3103 16TH STREET N, ST PETERSBURG, FL 33704

Description of 3103 16TH STREET N, ST PETERSBURG, FL 33704

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.

Property Details for 3103 16TH STREET N, ST PETERSBURG, FL 33704

Interior Features

Accessibility Features, Ceiling Fan(s), Chair Rail, Kitchen/Family Room Combo, Living Room/Dining Room Combo, Open Floorplan, Stone Counters, Thermostat, Window Treatments

Appliances

Convection Oven, Dishwasher, Dryer, Electric Water Heater, Exhaust Fan, Freezer, Microwave, Range, Refrigerator

Flooring

Luxury Vinyl, Tile

Heating

Central

Cooling

Central Air

Parking Features

Driveway, Off Street, Parking Pad

Pool Private

No

Property Condition

Completed

Building Information for 3103 16TH STREET N, ST PETERSBURG, FL 33704

Building Area Units

Square Feet

Association

No

Property Information for 3103 16TH STREET N, ST PETERSBURG, FL 33704

Lot Size Square Feet

8,107

Waterfront

No

View

No

Construction Materials

HardiPlank Type, Wood Frame

Roof

Shingle

Exterior Features

Balcony, Courtyard, Dog Run, Fenced, Lighting, Private Entrance, Private Mailbox, Sidewalk

Sewer

Public Sewer

Water Source

Public

New Construction

No

Public Records for 3103 16TH STREET N, ST PETERSBURG, FL 33704

Parcel Number

123116861660010230

Tax Annual Amount

$9,172

Tax Year

2024

Tax Legal Description

SUMMIT PARK BLK A, LOT 23 & N 1/2 OF LOT 22

County Or Parish

Pinellas

Schools Near 3103 16TH STREET N, ST PETERSBURG, FL 33704

Elementary School

John M Sexton Elementary-PN

Middle School

Meadowlawn Middle-PN

High School

St. Petersburg High-PN

School assignments are provided by the listing and should be independently verified.

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