Ad #7380391
MLS #TB8484507
Some investments ask you to be patient. This one pays you while
2 ADALIA Ave 704, Tampa, FL 33606
$649,000
2Beds
2Baths
1,209Sqft
--Acres
About this property
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 people 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 tenancyparable 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.
Property Features
2 Beds
2 Baths
1,209 Sqft
Built in 1986
0.000 Acres
3 Stories
Central
$8,615 / yr property tax
Hillsborough County
ADALIA BAYFRONT CONDO Community
Additional Photos
Contact Information
Estela Ziu
Compass
813-858-6267
Location
Listing Agent: Estela Ziu 813-858-6267
Broker: Compass 305-851-2820 Listing Site
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Compass 305-851-2820 Listing Site
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
BarrierFreeHome.com
Printed Sep 7, 2026
Photo Gallery
$649,000
2
Beds
2
Baths
1,209
Sqft
2 ADALIA Ave 704, Tampa, FL 33606
By contacting this agent you agree to these Terms and Conditions.
MLS# TB8484507
$649,000
2 ADALIA Ave 704, Tampa, FL 33606
2
Beds
2
Baths
1,209
Sqft
--
Acres
$649,000
2 ADALIA Ave 704, Tampa, FL 33606
2 Beds
2 Baths
1,209 Sqft
-- Acres
Accessibility Features
Accessible Elevator Installed
Some investments ask you to be patient. This one pays you while
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 people 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 tenancyparable 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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Property Details
HOME DETAILS
2 Beds
2 Baths
1,209 Sqft
Built in 1986
0.000 Acres
3 Stories
INTERIOR
Central
FINANCIAL & COMMUNITY
$8,615 / yr property tax
Hillsborough County
ADALIA BAYFRONT CONDO Community
See More Details
Location
Mortgage Calculator
Ad Statistics
Ad Number
7380391
Viewed
178 times
Listing Status
Active
Added
Mar 09, 2026
Last Refreshed
Sep 07, 2026 10:21:22 PM
Listing Information
Data Source
Stellar MLS
Source Property ID
TB8484507
Listing Agent: Estela Ziu 813-858-6267
Broker: Compass 305-851-2820 Listing Site
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Compass 305-851-2820 Listing Site
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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