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$899,900
6 Beds 4 Baths Baybridge Heights SubDv. 33702 Zip Code
Exceptional opportunity to own a single-level, garden-style quadplex in highly desirable North St. Petersburg with quick access to I-275, Tampa, and Downtown St. Pete. This well-maintained multi-family property sits on two lots totaling 0.28 acres and features four units across two concrete block duplexes, offering durability, curb appeal, and long-term value. The eastern duplex consists of two spacious 2-bedroom, 1-bath units, each with approximately 904 living square feet plus front porches. The western duplex offers two 1-bedroom, 1-bath units, each with approximately 644 living square feet with both front and rear porches. Three units are currently tenant-occupied, providing immediate income with upside potential. Major capital improvements include brand-new hurricane impact-rated windows and doors throughout, along with new roofs and gutters installed in June 2024. The property features fresh landscaping, artificial turf, and an irrigation system, creating a clean, low-maintenance exterior. The site sits high and dry and has never experienced flooding. Utility setup is investor-friendly: the eastern duplex has separate water, sewer, and trash accounts for each unit, while the western duplex is on a single W/S/T account. All four units have individual electrical meters. Additional amenities include a large storage room, a separate coin-operated laundry room with tenant cabinets, and a large rear parking pad with carport accessed via the alley. A truly rare opportunity to acquire a turnkey, single-story multi-family property with significant recent upgrades in one of St. Petersburg’s most convenient and sought-after locations. Ideal for investors seeking stable income, future rent growth, and minimal deferred maintenance. Rental Breakdown: 534 93rd Ave N (2 bed, 1 bath) - $1,795 per month; 536 93rd Ave N (2 bed, 1 bath) - $1,695 per month; 544 93rd Ave N (1 bed, 1 bath) - $1,650 per month; 546 93rd Ave N (1 bed, 1 bath) - $1,450 per month.

544 93rd Avenue N, St Petersburg

$1,199,000
8 Beds 4 Baths Summit Park SubDv. 33704 Zip Code
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.

3103 16th Street N, St Petersburg