Heat boiler, with rack set 4 inches from heat.
Line a broiler pan with aluminum foil. Set aside.
In a large skillet, heat 1/4 cup oil over medium.
Add potatoes and cook, turning frequently with a thin metal spatula, until golden and crisp-tender, 15 to 20 minutes. (Allow less time, only about 10 minutes, if using frozen potatoes.)
Add peppers; season with salt and pepper. (You do not need to use salt and pepper if using frozen, pre-seasoned potatoes.)
Continue to cook, tossing occasionally, until vegetables are tender, about 10 minutes more.
Meanwhile, rub beef with remaining teaspoon oil; season with paprika, salt and pepper.
Broil, turning once, until medium-rare (an instant-read thermometer inserted in thickest part should register 130 degrees), 10 to 15 minutes.
Transfer to a plate, cover loosely with aluminum foil, and set aside to rest, 5 to 10 minutes.
Thinly slice beef against the grain, and serve with vegetables.
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