# 3103 16TH STREET N, ST PETERSBURG, FL 33704

> **TL;DR:** 8bd/0ba multi-family, $1,199,000 ($447/sqft), built 1985, 2,680 sqft. Est. $5,196/mo. Listed 141 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $1,199,000 |
| Price/sqft | $447 |
| Bedrooms | 8 |
| Square Feet | 2,680 |
| Year Built | 1985 |
| Lot Size | 8,276 sqft (0.19 acres) |
| Property Type | Multi-Family (Quadruplex) |
| Status | For Sale |
| Days on Market | 141 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $5,196 |
| **Total** | **$5,196** |

## Nearby Schools

- **Elementary:** John M Sexton Elementary-PN
- **Middle:** Meadowlawn Middle-PN
- **High:** St. Petersburg High-PN

## Property Highlights

- Built in 1985
- 0.19 acre lot

## Description

### Agent Description
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.

## Location

- **Address:** 3103 16TH STREET N, ST PETERSBURG, FL 33704
- **County:** Pinellas
- **Neighborhood:** SUMMIT PARK
- **Coordinates:** 27.800256, -82.65463
- **Google Maps:** https://www.google.com/maps?q=27.800256,-82.65463

## Listing Agent

- **Name:** Josh Neighoff
- **Brokerage:** EXP REALTY LLC
- **Phone:** 4435256482
- **Email:** jneighoff1213@gmail.com

## Primary Photo

![3103 16TH STREET N - Primary Photo](http://lh.rdcpix.com/530888143235bfa0475d69af3d40de57l-f2268597525r.jpg)

*62 total photos available on [listing page](https://www.propertysimple.com/listing/3103-16th-street-n-st-petersburg-fl-33704-b8449162)*

---

**MLS#:** TB8449162 | **Updated:** 2026-04-29
**Source:** listhub

*Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/3103-16th-street-n-st-petersburg-fl-33704-b8449162)

---

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