4513 W McElroy Ave - Apartments FOR SALE


Tampa, FL 33611- Sun Bay South
$795,000 USD
813-940-0101
4513 W McElroy Ave, Tampa, FL for Sale
$795,000 USD
Apartments - FOR SALE
1/34
null | 8.35% Cap Rate

4513 W McElroy Ave
Tampa, FL 33611
Sun Bay South


HIGHLIGHTS

  • ALL Major Updates Completed Included New Roof in 2022
  • Prime Location in South Tampa Minutes From The Major Destinations
  • Excellent opportunity for investors seeking income and long-term appreciation potential

OVERVIEW

Prime investment opportunity in the heart of South Tampa. This well-located 4-unit property offers immediate income potential with significant upside through short-term or mid-term rental optimization. Each unit presents a functional layout ideal for maximizing rental efficiency, making this asset attractive for both seasoned investors and owner-operators. Positioned in a high-demand rental corridor, the property benefits from close proximity to Downtown Tampa, Bayshore Boulevard, major employment hubs, dining, and entertainment. The area continues to experience strong growth, supporting both long-term stability and short-term rental demand. The property is being offered as part of a larger 8-unit asset, now split into two 4-unit buildings, providing flexibility for investors seeking a smaller acquisition or the opportunity to scale by acquiring both. With the right management and strategic upgrades, the property has the potential to significantly increase rental income through short-term rental platforms, corporate housing, or furnished mid-term rentals. Ideal for investors seeking a value-add opportunity in one of Tampa’s most desirable submarkets. **TURNKEY 4-UNIT INVESTMENT OPPORTUNITY IN SOUTH TAMPA!** Located in a highly desirable South Tampa rental corridor, this property presents an exceptional opportunity for investors seeking a versatile income-producing asset with multiple rental strategies. This well-positioned multifamily property features **four 1-bedroom, 1-bath units**, providing a diversified income stream while maintaining efficient and highly desirable floor plans while being built with solid concrete block construction. Each unit is separately rentable, making the property well suited for traditional long-term rentals, furnished mid-term rentals, or short-term rental strategies. Also this property features a newer roof, with the full roof replacement that was done in 2022! The property's South Tampa location provides convenient access to major roadways, employment centers, shopping, dining, entertainment, and the area's beaches and waterfront destinations. Its proximity to Westshore, Gandy, and surrounding South Tampa neighborhoods further enhances its appeal to both tenants and investors. For investors, the combination of four individual units at this affordable price in an exclusive area creates an attractive opportunity to acquire and operate a flexible multifamily asset. Whether you're looking for immediate rental income, a long-term hold, or additional upside through optimized management and rental strategy, this property offers a compelling investment platform in one of Tampa's most established markets. • Multiple rental strategy options • Strong demand for smaller residential units • Convenient access to Westshore, Gandy and major Tampa thoroughfares • Excellent opportunity for investors seeking income and long-term appreciation potential

FOR SALE DETAILS

PRICE

$795,000 USD

PRICE/SF

$359 USD /SF

# OF UNITS

4

PRICE/UNIT

$198,750

CAP RATE

8.35%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1966

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

RM-16

APN/PARCEL ID

A-08-30-18-3XJ-000020-00009.1

ASK ABOUT THIS PROPERTY

Taylor CresswellSellstate Coastal RealtyMore Info
813-940-0101

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Taylor CresswellSellstate Coastal RealtyMore Info
813-940-0101

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.