4513 w mcelroy avenue

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