3103 16th Street N, Saint Petersburg, FL 33704
Local realty services provided by:Better Homes and Gardens Real Estate Synergy
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:52 day(s) ago
- Updated:January 11, 2026 at 02:42 PM
Rooms and interior
- Bedrooms:8
- Total bathrooms:4
- Living area:2,680 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Central
Structure and exterior
- Roof:Shingle
- Year built:1985
- Building area:2,680 sq. ft.
- Lot area:0.19 Acres
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)
New listings near 3103 16th Street N
- New
$183,000Active2 beds 2 baths996 sq. ft.7106 Americana Drive Ne #140, ST PETERSBURG, FL 33702
MLS# TB8463252Listed by: BAREFOOT REALTY GROUP - New
$150,000Active2 beds 2 baths1,035 sq. ft.4895 Bay Street Ne #311, ST PETERSBURG, FL 33703
MLS# TB8463250Listed by: MELANGE REAL ESTATE INC - New
$239,000Active2 beds 2 baths792 sq. ft.4727 6th Avenue S, ST PETERSBURG, FL 33711
MLS# TB8463162Listed by: HOLLAND ASSOCIATES INC - New
$1,465,000Active1 Acres636 Sunset Drive S, ST PETERSBURG, FL 33707
MLS# TB8463207Listed by: LEFT COAST REALTY - New
$749,000Active4 beds 3 baths2,736 sq. ft.6518 Debbie Lane S, ST PETERSBURG, FL 33707
MLS# TB8462979Listed by: FIDICITY REALTY INC - New
$389,900Active2 beds 2 baths1,175 sq. ft.5220 Brittany Drive S #1510, ST PETERSBURG, FL 33715
MLS# TB8460563Listed by: COLDWELL BANKER REALTY - Open Sun, 10am to 12pmNew
$849,000Active3 beds 2 baths1,454 sq. ft.7930 Causeway Boulevard S, ST PETERSBURG, FL 33707
MLS# TB8462542Listed by: CENTURY 21 JIM WHITE & ASSOC - New
$155,000Active2 beds 2 baths965 sq. ft.8500 13th Street N #A, ST PETERSBURG, FL 33702
MLS# TB8463104Listed by: EQUITY REALTY SUNCOAST - New
$499,000Active3 beds 2 baths1,914 sq. ft.383 Mount Richmond Avenue Ne #339, ST PETERSBURG, FL 33702
MLS# TB8462230Listed by: BAREFOOT REALTY GROUP - New
$799,000Active4 beds 2 baths2,276 sq. ft.11419 47th Avenue N, ST PETERSBURG, FL 33708
MLS# TB8463020Listed by: RE/MAX ACTION FIRST OF FLORIDA