4513 W McElroy Ave Tampa, FL 33611

Turnkey 4-Unit Investment | STR Approved | Great Opportunity Exceptional income-producing 4-unit multifamily property located in a highly desirable rental corridor, offering immediate cash flow and strong upside potential. Built in 1966 with solid concrete block construction, this property features 2,124 SF of heated space on a 9,000 SF lot (RM-16 zoning)-ideal for continued short-term rental use or long-term hold strategy. Each unit is efficiently laid out as 1 bed / 1 bath, making it highly attractive for both short-term rental (Airbnb/VRBO) and traditional tenants. The property is already positioned for STR income generation, making it a true turnkey investment. ?? Investment Highlights:     "¢Â    Asking Price: $850,000     "¢Â    Projected Cap Rate: 8.7     "¢Â    Net Operating Income (NOI): ~$73,950/year     "¢Â    Estimated Gross Income: ~$105,000+/year (STR optimized)     "¢Â    Low-maintenance concrete block construction     "¢Â    Individually rentable units = diversified income stream ?? Property Features:     "¢Â    Concrete block exterior + stucco finish     "¢Â    Gable/hip roof with asphalt shingles     "¢Â    Wood flooring & drywall interiors     "¢Â    4 total units (multifamily layout)     "¢Â    On-site additional storage (shed)     "¢Â    Functional layout ideal for maximizing nightly rates ?? Location & Upside: Situated in a high-demand rental area with strong tourism and local workforce demand, this property offers:     "¢Â    Immediate STR income potential     "¢Â    Value-add through interior upgrades or branding     "¢Â    Ability to increase ADR and occupancy with professional management     "¢Â    Long-term appreciation in a growing Tampa submarket