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2 Adalia Avenue #704

Tampa, FL 33606
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Bed 2

Bed

Bath 2

Bath

SqFt1,209

Sqft

Some investments ask you to be patient. This one pays you while you wait. On a quiet street at the northern tip of Davis Islands, The Adalia Bayfront rises ten floors above Hillsborough Bay with the kind of unhurried confidence that only waterfront buildings on private island communities tend to carry. Unit 704 is one of the most strategically positioned assets currently available in this market, not because of what it looks like, but because of what it does. It generates income. From the day you close, rent arrives. No renovation sprint, no lease-up anxiety, no first-month vacancy. A qualified tenant is already in residence, with annual rent escalations contractually embedded into the lease. The current lease runs through June 2027. What makes this unit harder to replace than most peopl e realize: the Adalia Bayfront Association permits only 6 of its 65 units to be leased at any given time. This is one of them. With rental supply capped at the association level, demand stays concentrated, rents stay firm, and the competitive set for your income stream stays deliberately narrow. The building itself needs little introduction to anyone who knows South Tampa. Gated entry, on-site management, a saltwater pool that faces the bay, and a private marina with boat slips and lifts capable of handling vessels up to 13,000 pounds. This is the only building in the immediate vicinity with that kind of direct water access. Fitness center, sauna, community room, two reserved parking spaces per unit, dedicated storage. Tampa General Hospital is two blocks away. Downtown Tampa and Water Street are five minutes by car. The Davis Islands Yacht Club, the village shops, the dog beach are all within walking distance. Davis Islands has a way of holding its value that other Tampa neighborhoods aspire to. It is the kind of place where residents put down roots and stay, which, for an investor, is exactly the kind of community loyalty that underpins a long and stable tenancy. Comparable units in the building are actively listing above current contracted rent, which means the gap between what this tenant pays today and what the market will bear in June 2027 is already built into the asset. At the end of the lease, you hold a premium waterfront asset in one of Tampa Bay's most sought-after zip codes, free to release at current market rates, occupy personally, or sell on your own timeline and entirely your own terms. For a 1031 exchange buyer needing to place capital quickly, this is a turnkey acquisition with an income stream that begins immediately. For an international or out-of-state investor looking for a professionally managed, low touch hold in a market with genuine appreciation history, this is the kind of property that earns its keep.

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Detail Ic Property Details

Property Type : Residential

Price : $649,000

AD Id : 76033346

MLS Id : MFRTB8484507

Beds : 2

Living Area Size : 1,209

Year Built : 1986

Garage : 2

County : Hillsborough

Subdivision: Adalia Bayfront Condo

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Map

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Feature Features

  • Bedroom Information

    Total Bedroom: 2

    Bathroom Information

    Total Baths: 2 Full Baths: 2

    Interior Features

    Elevator, Kitchen/Family Room Combo, Solid Surface Counters, Solid Wood Cabinets Roof: Other Appliances: Cooktop, Dishwasher Laundry Features: Inside

    Roofing Information

    Other
  • Flooring Information

    Flooring: Hardwood Construction Materials: Other
  • Heating & Cooling

    Heating: Central Cooling: Central Air Water front: 1 WaterSource: Public

  • Building Information

    Year Built: 1986
  • Exterior Features

    Other, Outdoor Grill, Sidewalk Construction Materials: Other Foundation Details: Slab

  • Lot Information

    Lot Square Feet: 2

    Property Information

    Property Type: Residential Sub Type: Condominium

  • Listing Price Information

    Original List Price:$649000

  • Tax Information

    Tax Block: 000000 Tax Book Number: 9-20 Tax Lot: 007040 Tax Legal Description: ADALIA BAYFRONT CONDOMINIUM UNIT NO 704 Annual Tax: $8615.39 Tax Year: 2025 Parcel Number: A-25-29-18-50D-000000-00704.0

  • Garage Information

    Has Garage: Yes Garage Space: 2

    Homeowners Association Information

    Included Fees: Pool, Electricity, Escrow Reserves Fund, Insurance, Internet, Maintenance Structure, Maintenance Grounds, Maintenance, Management, Other

  • Utility Information

    Cable Connected, Electricity Connected, Other Sewer: Public Sewer Water Source: Public
  • Location Information

    Subdivision: ADALIA BAYFRONT CONDO City: TAMPA Direction: From Platt Street take S Hyde Park Ave over the Davis Islands Bridge. Your first right at the bottom of the bridge is Adalia Avenue. Turn right into Adalia Bayfront gate on your right. Follow signs to Visitor Parking spaces as you pass under the portico. Alternative: From Bayshore Blvd heading North, veer right on to Davis Islands bridge just before Downtown. Your first right at the bottom of the bridge is Adalia Avenue. Turn right into Adalia Bayfront gate on your right.
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
1000 W Horatio Street #.., Other, FL, 33606 $179,900 1 1 631 631 SqFt
160 Columbia Drive #206, Tampa, FL, 33606 $589,900 2 2 1,192 1,192 SqFt
91 Davis Boulevard #303, Tampa, FL, 33606 $1,659,000 3 3 2,627 2,627 SqFt
91 Davis Boulevard #204, Tampa, FL, 33606 $1,665,000 3 4 2,562 2,562 SqFt
91 Davis Boulevard #201, Tampa, FL, 33606 $1,599,000 3 3 2,387 2,387 SqFt
481 W Davis Boulevard, Tampa, FL, 33606 $3,199,000 5 6 5,863 5,863 SqFt
275 Bayshore Boulevard .., Tampa, FL, 33606 $1,289,900 3 2 1,628 1,628 SqFt
275 Bayshore Boulevard .., Tampa, FL, 33606 $999,900 2 2 1,583 1,583 SqFt
345 Bayshore Boulevard .., Tampa, FL, 33606 $515,000 2 2 1,022 1,022 SqFt
345 Bayshore Boulevard .., Tampa, FL, 33606 $435,000 2 2 1,022 1,022 SqFt
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ByOwner last updated this listing 06/15/2026 @ 18:20

MLS: MFRMLS #TB8484507 LISTED BY: Estela Ziu, COMPASS FLORIDA, LLC 305-851-2820 SOURCE: MFRMLS (My Florida Regional MLS DBA Stellar MLS) (Listings courtesy of MFRMLS (My Florida Regional MLS DBA Stellar MLS) as distributed by MLS GRID)

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