4513 W MCELROY AVE Tampa, FL 33611
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Half Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,124 sqft
Price per Sqft $400
Subdivision Baybridge Rev
MLS Listing ID TB8493099
Bedrooms 1
Full Baths 1
HOA Y/N No
Year Built 1966
Annual Tax Amount $7,436
Lot Size 9,147 Sqft
Acres 0.21
Lot Dimensions 60x150
Property Sub-Type Half Duplex
Source Stellar MLS
Property Description
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
Location
State FL
County Hillsborough
Community Baybridge Rev
Area 33611 - Tampa
Zoning RM-16
Interior
Interior Features Primary Bedroom Main Floor
Heating Ductless
Cooling Mini-Split Unit(s)
Flooring Laminate
Furnishings Negotiable
Fireplace false
Appliance Cooktop, Dishwasher, Microwave
Laundry None
Exterior
Exterior Feature Private Entrance
Utilities Available Cable Connected
Roof Type Shingle
Garage false
Private Pool No
Building
Story 1
Entry Level One
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water None
Structure Type Block,Stucco
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/TB8493099
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