1835 16th Street S, St Petersburg, FL 33705 (MLS # TB8493145)

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View Virtual Tour PRICE $625,000 SIZE 2,112 sqft LOT SIZE 5,663 sqft Request More Info Schedule a Showing

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.