$1,199,000
3103 16th Street N Saint Petersburg, FL 33704
For Sale MLS# TB8449162
8 beds 4 baths 2,680 sq ft Multi-family
Details for 3103 16th Street N
MLS# TB8449162
Description for 3103 16th Street N, Saint 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.
Listing Information
Property Type: Residential, Quadruplex
Status: Active
Bedrooms: 8
Bathrooms: 4
Lot Size: 0.19 Acres
Square Feet: 2,680 sq ft
Year Built: 1985
Stories: 2 Story
Construction: HardiPlank Type,Wood Frame
Construction Display: New Construction
Subdivision: Summit Park
Foundation: Slab
Number Of Units Total: 4
County: Pinellas
Construction Status: New Construction
School Information
Elementary: John M Sexton Elementary-Pn
Middle: Meadowlawn Middle-Pn
High: St. Petersburg High-Pn
Additonal Room Information
Laundry: In Kitchen, Washer Hookup, Inside, Laundry Closet, Electric Dryer Hookup
Interior Features
Appliances: Convection Oven, Exhaust Fan, Electric Water Heater, Dishwasher, Dryer, Freezer, Microwave, Range, Refrigerator
Flooring: Luxury Vinyl,Tile
Doors/Windows: Blinds, Window Treatments
Accessibility: Accessibility Features, Accessible Approach with Ramp, Accessible Bedroom, Accessible Central Living Area, Accessible Doors, Accessible Electrical and Environmental Controls, Accessible Entrance, Accessible Full Bath, Accessible Hallway(s), Accessible Kitchen, Accessible Kitchen Appliances, Accessible Washer/Dryer
Additional Interior Features: Ceiling Fan(s), Window Treatments, Open Floorplan, Stone Counters, Chair Rail, Kitchen/Family Room Combo, Living/Dining Room
Utilities
Water: Public, Multiple Meters
Sewer: Public Sewer
Other Utilities: Cable Available,Electricity Connected,High Speed Internet Available,Municipal Utilities,Sewer Connected,Water Connected
Cooling: Central Air, Ceiling Fan(s)
Heating: Central
Exterior / Lot Features
Parking Description: Parking Pad, Off Street, driveway
Roof: Shingle
Lot Dimensions: 70x115
Additional Exterior/Lot Features: Private Entrance, Courtyard, Fence, Lighting, Balcony, Dog Run, Covered, Deck, Balcony, Rear Porch, Side Porch
Community Features
Community Features: Sidewalks
Security Features: Fire Hydrant(s)
Unit Information
Unit 1 Units Total: 1
Unit 1 Actual Rent: 2075
Unit 1 Baths Total: 1
Unit 1 Beds Total: 2
Unit 2 Units Total: 1
Unit 2 Actual Rent: 2250
Unit 2 Baths Total: 1
Unit 2 Beds Total: 2
Unit 3 Units Total: 1
Unit 3 Actual Rent: 2250
Unit 3 Baths Total: 1
Unit 3 Beds Total: 2
Unit 4 Units Total: 1
Unit 4 Actual Rent: 2250
Unit 4 Baths Total: 1
Unit 4 Beds Total: 2
Driving Directions
Heading south on 275 from Tampa take exit 24 for 22nd Ave N. Head east on 22nd Ave N, take a left on 16th St N to head north 8 blocks and you will see the Blue Pelican building on the right.
Financial Considerations
Terms: Cash,Conventional,FHA,VA Loan
Tenant Pays: Electricity,Gas
Gross Income: 108300
Tax/Property ID: 12-31-16-86166-001-0230
Tax Amount: 9172.33
Tax Year: 2024
A broker reciprocity listing courtesy: EXP REALTY LLC
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Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 3103 16th Street N
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
Schools
Schools nearby 3103 16th Street N
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The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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