1835 16TH ST S, ST PETERSBURG, FL, 33705
$625,000
Commercial Sale
|
Living Area
2,112 Sqft
|
Lot Size
5,789 Sqft
|
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 Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRTB8493145 | Year Built: | 2023 | |
| Appliances: | Dishwasher, Dryer, Microwave, Refrigerator, Washer | Construction Materials: | Block | |
| Cooling: | Central Air | Country: | US | |
| County Or Parish: | Pinellas | Foundation Details: | Slab | |
| Heating: | Central | Income Includes: | Rent Only | |
| Levels: | One | Listing Agreement: | Exclusive Right To Sell | |
| Listing Terms: | Cash | Property Sub Type: | Multi-Family 5+ | |
| Property Type: | Commercial Sale | Road Frontage Type: | City Street | |
| Road Surface Type: | Asphalt, Paved | Roof: | Shingle | |
| Sewer: | Public Sewer | Showing Requirements: | Appointment Only, ShowingTime | |
| Special Listing Conditions: | None | Standard Status: | Active | |
| State Or Province: | FL | Utilities: | BB/HS Internet Capable, Electricity Available, Public, Water Connected | |
| Water Source: | Public | |||
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