$1,600,000 Multifamily for Sale — 4511 W McElroy Ave, Tampa, FL 33611, USA
4511 W McElroy Ave, Tampa, FL 33611, USA
Summary
This is a multifamily property for sale at 4511 W McElroy Ave, Tampa, FL 33611, USA, listed at $1,600,000. The property has 8 units, 4,248 square feet, built in 1966. Financials show net operating income of $143,165, a 8.9% cap rate, gross income of $172,800 based on seller figures.
Key facts
- Asking price: $1,600,000
- Property type: Multifamily
- Cap rate: 8.9%
- NOI: $143,165
- Gross income: $172,800
- Occupancy: 100%
- Price / unit: $200,000
- Expense ratio: 17.1%
- Units: 8
- Building SF: 4,248
- Lot (acres): 0.42
- Year built: 1966
- Zoning: RM-16
Description
The McElroy Garden Flats — 8 units across two quadplex buildings in a prime South Tampa location. Can be sold individually for $825k each or together for $1.6m with each folio classified as a quadplex. Every unit has been completely updated and are true 1 bedroom & 1 bathroom units NOT STUDIOS that range from 520–540 Sq Ft. Each building has a shared water meter but every unit has separate electric meters. New roof for both buildings installed in 2022. Extremely affordable flood insurance policy that is transferrable.
Photos
Frequently asked questions
What is the asking price for this multifamily property?
The asking price is $1,600,000 for the property at 4511 W McElroy Ave, Tampa, FL 33611, USA.
What is the cap rate?
The cap rate is 8.9%, based on $143,165 in net operating income.
How many units does the property have?
The property has 8 units.
How do I make an offer?
You can submit an offer directly to the seller on Caproll — there are no broker commissions, and the underwriting numbers are shown up front.
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