FL
Hillsborough
TAMPA
33611
4513 W MCELROY AVENUE
4513 W MCELROY AVENUE, TAMPA, FL 33611
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Listing Type
Condo/Townhome
Listing Status
Active
15
$850,000

Home Details for 4513 W MCELROY AVENUE

Price
$850,000
Type
Residential
Bedrooms
1
Total Bathrooms
1
Full Bathrooms
1
Square feet
2124
Year built
1966
Lot size acres
0.21
County
Hillsborough
Total rooms
4
MLS Listing#
TB8493099
Property Description

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:     •    Asking Price: $850,000     •    Projected Cap Rate: 8.7     •    Net Operating Income (NOI): ~$73,950/year     •    Estimated Gross Income: ~$105,000+/year (STR optimized)     •    Low-maintenance concrete block construction     •    Individually rentable units = diversified income stream ?? Property Features:     •    Concrete block exterior + stucco finish     •    Gable/hip roof with asphalt shingles     •    Wood flooring & drywall interiors     •    4 total units (multifamily layout)     •    On-site additional storage (shed)     •    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:     •    Immediate STR income potential     •    Value-add through interior upgrades or branding     •    Ability to increase ADR and occupancy with professional management     •    Long-term appreciation in a growing Tampa submarket

Property Features
  • Utilities
    • Cable Available
    • Cable Connected
  • Heating Information
    • Ductless
  • Water Features
    • None
Listing Courtesy: SELLSTATE COASTAL REALTY - 813-940-0101
Listings courtesy of Stellar MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided for consumers? personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright ©2026 MLS GRID. All Rights Reserved.
Last Updated: 2026-04-09 17:50:12
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EXIT BAYSHORE REALTY
201 E. Davis Blvd, Tampa, FL 33606
Office
813 839 6869
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