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4511 W MCELROY AVENUE

Multi-family For Sale
$825,000

BTC: 10.67270375

ETH: 336.87219273

New
4 bds
2,124 sqft

Overview

**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

Location

Florida • TAMPA • 33611 • Multi-family • For Sale

Details

Type:
Residential Income
Parking:
No Data
Year Built:
1966
Lot:
0.21 Acres
Heating:
Other
Price/sqft:
$388
Cooling:
Mini-Split Unit(s)
HOA:
No Data

Valuation

Our model vs. what's actually selling nearby.
Estimate
$625,000
$591K – $774K
Confidence Low
List vs. estimate
$200K above estimate
List $825,000 · +32.0%
Our model says this listing is priced above recent comparable activity. Room to negotiate.
Price per sq ft
$388
+46.7% vs. city median $264
Based on
5 MLS comparables
Median of recent comparable listings. Sold comps use closing price, active listings use list price.

Highlights

Annual tax
$7,460
2025
All facts and features

  • Heating

    • Other

    Cooling

    • Mini-Split Unit(s)

    Other interior features

    • Ceiling Fan(s)

    Bedrooms and bathrooms

    • Bedrooms: 4

  • Property

    • Levels: One

    • Exterior Features: Basketball Court / Dog Run / Fenced / Lighting / Outdoor Grill

    Lot

    • Lot: 0.21 Acres

    Other Property Information

    • Parcel Number: A0830183XJ00002000009.3

    • Zoning: RM-16

  • Type and style

    • Property Type: Residential Income

    • Property Sub Type: Quadruplex

  • Utility

    • Public

  • Other financial information

    • Annual tax amount: $7,461

  • Source details

    • MLS ID: TB8544469

    Other facts

    • Construction Materials: Block

    • Foundation Details: Slab

    • Laundry Features: None

    • Living Area: 2124

    • Water Source: Public

    • Lot Size Dimensions: 60 x 150

    • Subdivision Name: BAYBRIDGE REV

Private inquiry
Talk to the advisor on this listing.
Floor plans, HOA docs, off-market comparables, scheduling a private showing — one message, direct to the local specialist.

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Market around this address

Live counts in the same area.
View all
This zip
33611
256
median $512K
Active
Same city
TAMPA
3,860
median $448K
Active
Same type
Multi-family
68
median $509K
Active
Similar price
$577K – $1.1M
676
median $729K
Active

The multiple listing information is provided by the Stellar MLS from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026-present Stellar MLS. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: SELLSTATE COASTAL REALTY