In a large skillet, heat the olive oil over medium heat. Add the chopped onion and minced garlic, sautéing until the onion is translucent, about 3-4 minutes.
Add the ground beef to the skillet, breaking it apart with a spatula. Cook until browned, about 5-7 minutes. Drain excess fat if necessary.
Stir in the diced potatoes, beef broth, salt, black pepper, and paprika. Bring the mixture to a simmer.
Cover the skillet and reduce the heat to low. Cook for about 20-25 minutes, or until the potatoes are tender, stirring occasionally.
Once the potatoes are cooked, sprinkle the shredded cheddar cheese over the top. Cover again and let it sit for 5 minutes, or until the cheese is melted.
Serve hot, garnished with chopped green onions and a dollop of sour cream if desired.