USAFLSt PetersburgSummit Park3103 16Th St N

3103 16th St N, ST PETERSBURG, FL

Real Estate

For Sale

Listed price in listed location currency (USD).

$1,199,000

840

MLS® TB8449162

Key Facts
Description
Map

Key Facts

Type Quadruplex

Levels Residential Income

Size 2680 sqft

Garage No

Taxes $9,172

Days Active 58

Lot Size 0.19 acres

Approx. Age 1985

Avg. Price Per Sqft $447

MLS® Number TB8449162

Property Address: 3103 16th St N, ST PETERSBURG, FL, 33704-1924

Average square foot calculated using Size range provided by listing agent.

Description

Introducing Blue Pelican, a brand-new commercial-quality quadplex rebuilt from the studs up. Only portions of the exterior framing and slab remain—every other major component is new, including the electrical system and panels, plumbing, roof, HVAC, siding, impact-rated windows and doors, driveway, insulation, drywall, upscale kitchens and bathrooms, and all interior finishes. The property also features a commercial fire sprinkler system and a commercial fire alarm system, offering insurance advantages, enhanced safety, and long-term durability rarely found in small multifamily assets. The building lives more like a newly constructed boutique apartment building than a traditional four-unit. Each residence has been fully redesigned with modern layouts and high-end finishes, and one of the units is fully ADA compliant with an exterior wheelchair-accessible ramp. Additional upgrades such as designated bicycle parking and thoughtful site enhancements help ensure low-maintenance ownership for years to come. The owners are currently replicating this project with the mirror-image property next door at 3101 16th St N, which will be completed as “Green Pelican” and will match Blue Pelican in layout, quality, and commercial-grade upgrades, with the only difference being a Seafoam Green exterior. Once completed, this will enhance the overall appeal and value of Blue Pelican, and a future purchaser will have the opportunity to acquire both properties for a cohesive and highly attractive 8-unit investment. Fully leased the property will deliver a total monthly rental income of $8, 825 plus an additional $200/month in reimbursement for water and trash, bringing the annual gross income to approximately $108, 300. All units are separately metered for electric, creating an efficient and predictable utility structure. Given the complete redevelopment and commercial-grade systems, future capital expenditure needs are minimal. Based on typical operating metrics for a brand-new, impact-rated multifamily building in Florida, the projected NOI supports a strong cap rate at list price. With rental upside over time, the pro forma performance trends even stronger. Blue Pelican presents a rare opportunity to acquire a true turnkey, fully rebuilt income-producing asset with commercial-level construction quality, modern design, and stabilized rent roll—all in a growing, high-demand market near downtown St Pete and right around the corner from Crescent Lake.

MLS® NumberTB8449162

Laundry LevelElectric Dryer Hookup, In Kitchen, Inside, Laundry Closet, Washer Hookup

Central VacNo

FireplaceNo

Acreage0.19

Exterior

GarageNo

Approx. Age1985

Basement

DrivewayDriveway, Off Street, Parking Pad

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Similar Listings

Price History

-End Date

Not Sold YetSold Price

For Sale

Nov 20, 2025List Date

$1,199,000List Price

Commute

Commute

Starting Address

Destination Address

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