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3103 16th Street

Saint Petersburg, FL 33704
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Bed 8

Bed

Bath 4

Bath

SqFt2,680

Sqft

Acres0.19

Acre(Lot)

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.

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Detail Ic Property Details

Property Type : Residential Income

Price : $1,199,000

AD Id : 68966004

MLS Id : MFRTB8449162

Beds : 8

Lot Size : 0.19 Acre

Living Area Size : 2,680

Year Built : 1985

County : Pinellas

Subdivision: Summit Park

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Feature Features

  • Bedroom Information

    Total Bedroom: 8

    Bathroom Information

    Total Baths: 4

    Interior Features

    Accessibility Features, Ceiling Fans(s), Chair Rail, Kitchen/Family Room Combo, Living Room/Dining Room Combo, Open Floorplan, Stone Counters, Thermostat, Window Treatments Roof: Shingle Appliances: Convection Oven, Dishwasher, Dryer, Electric Water Heater, Exhaust Fan, Freezer, Microwave, Range, Refrigerator Laundry Features: Electric Dryer Hookup, In Kitchen, Inside, Laundry Closet, Washer Hookup

    Roofing Information

    Shingle
  • Flooring Information

    Flooring: Luxury Vinyl, Tile Construction Materials: HardiPlank Type, Frame
  • Heating & Cooling

    Heating: Central Cooling: Central Air WaterSource: Public

  • Building Information

    Year Built: 1985
  • Exterior Features

    Balcony, Courtyard, Dog Run, Fence, Lighting, Private Entrance, Private Mailbox, Sidewalk Construction Materials: HardiPlank Type, Frame Foundation Details: Slab Road Responsibility: Public Maintained Road

  • Lot Information

    Lot Dimensions: 70x115 Lot Square Feet: 8107 Lot Acres: 0.19 Lot Size (SqMt): 753

    Property Information

    Property Type: Residential Income Sub Type: Quadruplex

  • Listing Price Information

    Original List Price:$1199000

  • Tax Information

    Tax Block: A Tax Book Number: 12-4 Tax Lot: 23 Tax Legal Description: SUMMIT PARK BLK A, LOT 23 & N 1/2 OF LOT 22 Annual Tax: $9172.33 Tax Year: 2024 Parcel Number: 12-31-16-86166-001-0230

  • School Information

    Elementary School: John M Sexton Elementary-PN Junior High School: Meadowlawn Middle-PN Senior High School: St. Petersburg High-PN
  • Utility Information

    BB/HS Internet Available, Cable Available, Electricity Connected, Fire Hydrant, Public, Sewer Connected, Water - Multiple Meters, Water Connected Sewer: Public Sewer Water Source: Public
  • Location Information

    Subdivision: SUMMIT PARK City: ST PETERSBURG Direction: 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.
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ByOwner last updated this listing 06/23/2026 @ 06:20

MLS: MFRMLS #TB8449162 LISTED BY: Josh Neighoff, EXP REALTY LLC 888-883-8509 SOURCE: MFRMLS (My Florida Regional MLS DBA Stellar MLS) (Listings courtesy of MFRMLS (My Florida Regional MLS DBA Stellar MLS) as distributed by MLS GRID)

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