SQUARE FEET2,304
MLS#TB8493145
STATUSActive
PROPERTY TYPECommercial - Multiple
SUBDIVISIONFRUITLAND HEIGHTS
Property Description
A stabilized PadSplit co-living property in St. Petersburg's 33705 corridor, producing $65,000 to $85,000 in gross annual revenue with an identifiable path to more. The structure operates as six private rooms, each with its own bathroom and keypad-entry door, sharing a renovated common kitchen and dining area outfitted with white shaker cabinets, stainless steel appliances, and a full washer and dryer. LVP flooring runs throughout, crown molding gives each common space a finished feel, and a covered front porch signals the kind of curb appeal that holds quality tenants.Step inside and the hallway tells the story quickly: numbered doors, smart locks, and a consistent finish level from front to back that keeps turnover low and occupancy high. Currently five of six rooms are filled at $280 per week, with flexible lease terms ranging from two months to two years and weekly rent collection built into the PadSplit platform. Full occupancy - the historical norm - puts gross revenue north of $87,000 annually.The common living room, which tenants rarely use, is the upside. Converting that space to a seventh bedroom adds approximately $14,500 in additional annual gross revenue while preserving the kitchen, dining area, and laundry. The bones are already there; it is a straightforward conversion with meaningful return.Positioned minutes from downtown St. Petersburg, the St. Pete Pier, Bayfront Health, and I-275 access to Tampa, this address draws working adults who need flexible lease terms and a connected location. Demand in this corridor is consistent, the PadSplit model keeps collections systematic, and the property transfers in stabilized, turnkey condition.
Property Features
Property Type: Commercial - Multiple
Cooling: Central Air
Heating: Central
Lot Size: 0.13 Acres
Roof Type: Shingle
Stories: 1.0
Taxes: $9,162
Year Built: 2023
Feature Descriptions
Appliances: Dishwasher, Dryer, Microwave, Refrigerator, Washer
Days on Site: 3
Directions: Head south toward I-275 S. Merge onto I-275 S. Continue straight to stay on I-275 S. Take exit 21 for 28th St S. Turn left onto 28th St S. Turn left onto 18th Ave S. Turn right onto 16th St S. Destination will be on the right
Exterior: Block
Flood Zone Code: X
Foundation: Slab
Home Warranty Y/N: No
Listing Terms: Cash
Lot Dimensions: 0.13
Ownership: Fee Simple
Property Attached Y/N: No
Property Sub-Type: Multi-Family 5+
Sale Includes: Building(s) and Land, Furniture/Fixtures, Leases
Sewer: Public Sewer
Showing Instructions: Appointment Only, ShowingTime
Special Sale Provisions: None
Units: 6
Utilities: BB/HS Internet Capable, Electricity Available, Public, Water Connected
Water: Public
Water Access Y/N: No
Listed By / Shown By
Listed By
Agency Name: KELLER WILLIAMS GULF BEACHES
Agency Contact: murraycoleman@kw.com
Shown By
Agency Title: RealtyMark
Agency Phone: 888-240-0600
1835 16th Street S | MLS# TB8493145
This commercial property located at 1835 16th Street S, Saint Petersburg, FL 33705 is currently listed for sale with an asking price of $625,000. Search Saint Petersburg real estate on www.realtymark.net today.