3103 16th Street N, Saint Petersburg, FL 33704
Local realty services provided by:CENTURY 21 Carioti
Listed by: josh neighoff
Office: exp realty llc.
MLS#:TB8449162
Source:MFRMLS
Price summary
- Price:$1,199,000
- Price per sq. ft.:$447.39
About this home
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....
Contact an agent
Home facts
- Year built:1985
- Listing ID #:TB8449162
- Added:132 day(s) ago
- Updated:April 02, 2026 at 12:49 PM
Rooms and interior
- Bedrooms:8
- Total bathrooms:4
- Flooring:Luxury Vinyl, Tile
- Dining Description:Living Room/Dining Room Combo
- Kitchen Description:Convection Oven, Dishwasher, Exhaust Fan, Freezer, Kitchen/Family Room Combo, Microwave, Range, Refrigerator, Stone Counters
- Living area:2,680 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Central
- Central air:Yes
Structure and exterior
- Roof:Shingle
- Year built:1985
- Building area:2,680 sq. ft.
- Lot area:0.19 Acres
- Construction Materials:Frame, Hardi Plank Type
- Exterior Features:Balcony, Courtyard, Covered Porch/Patio, Deck, Dog Run, Fence, Lighting, Private Mailbox, Rear Porch, Side Porch, Sidewalk
- Foundation Description:Slab
- Levels:2 Story
Schools
- High school:St. Petersburg High-PN
- Middle school:Meadowlawn Middle-PN
- Elementary school:John M Sexton Elementary-PN
Utilities
- Water:Public, Water - Multiple Meters, Water Connected
- Sewer:Public, Public Sewer, Sewer Connected
Finances and disclosures
- Price:$1,199,000
- Price per sq. ft.:$447.39
- Tax amount:$9,172 (2024)
Features and amenities
- Appliances:Convection Oven, Dishwasher, Dryer, Electric Water Heater, Exhaust Fan, Freezer, Microwave, Range, Refrigerator
- Laundry features:Dryer, Electric Dryer Hookup, In Kitchen, Inside, Laundry Closet, Washer Hookup
- Amenities:Accessibility Features, BB/HS Internet Available, Cable Available, Ceiling Fans(s), Chair Rail, Fire Hydrant, Kitchen/Family Room Combo, Living Room/Dining Room Combo, Open Floorplan, Stone Counters, Thermostat, Window Treatments
- Pool features:Public Pool
Parking
- Parking description:Driveway, Off Street, Parking Pad
New listings near 3103 16th Street N
- New
$165,000Active1 beds 2 baths930 sq. ft.4895 Bay Street Ne #207, ST PETERSBURG, FL 33703
MLS# TB8490735Listed by: KELLER WILLIAMS ST PETE REALTY - New
$289,900Active3 beds 2 baths1,140 sq. ft.3001 58th Avenue S #1015, ST PETERSBURG, FL 33712
MLS# TB8487563Listed by: EPIQUE REALTY, INC. - New
$225,000Active2 beds 2 baths1,025 sq. ft.4910 Bay Street Ne #310, ST PETERSBURG, FL 33703
MLS# TB8489595Listed by: KELLER WILLIAMS ST PETE REALTY
$450,000Pending2 beds 1 baths1,083 sq. ft.132 21st Avenue S, ST PETERSBURG, FL 33705
MLS# TB8456213Listed by: KELLER WILLIAMS ST PETE REALTY- New
$185,000Active2 beds 2 baths1,002 sq. ft.6807 Mount Pleasant Road Ne #51, ST PETERSBURG, FL 33702
MLS# G5110153Listed by: POTOMAC LAND COMPANY - Open Sat, 11am to 1pmNew
$595,000Active3 beds 2 baths1,279 sq. ft.6468 17th Terrace N, ST PETERSBURG, FL 33710
MLS# TB8491991Listed by: COASTAL PROPERTIES GROUP - New
$250,000Active-- beds 1 baths489 sq. ft.470 3rd Street S #318, ST PETERSBURG, FL 33701
MLS# W7884389Listed by: BHHS FLORIDA PROPERTIES GROUP - New
$279,000Active2 beds 1 baths958 sq. ft.701 61st Avenue Ne, ST PETERSBURG, FL 33703
MLS# TB8493060Listed by: JAY ALAN REAL ESTATE - New
$319,900Active2 beds 2 baths1,605 sq. ft.5130 Brittany Drive S #1002, ST PETERSBURG, FL 33715
MLS# A4687843Listed by: RE/MAX ALLIANCE GROUP
$2,596,600Pending3 beds 4 baths2,606 sq. ft.400 Central Avenue #3907, ST PETERSBURG, FL 33701
MLS# TB8493069Listed by: MICHAEL SAUNDERS & COMPANY