$649,000
2 Adalia Avenue #704 Tampa, FL 33606 - HILLSBOROUGH BAY
For Sale MLS# TB8484507
2 beds 2 baths 1,209 sq ft Condo
Details for 2 Adalia Avenue #704
MLS# TB8484507
Description for 2 Adalia Avenue #704, Tampa, FL, 33606 - HILLSBOROUGH BAY
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 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.
Listing Information
Property Type: Residential, Condominium
Status: Active
Bedrooms: 2
Bathrooms: 2
Square Feet: 1,209 sq ft
Year Built: 1986
Garage: Yes
Stories: 10
Construction: Other
Subdivision: Adalia Bayfront Condo
Foundation: Slab
County: Hillsborough
Room Information
Main Floor
Living Room:
Kitchen:
Bathroom 1:
Bedroom 1:
Primary Bathroom:
Primary Bedroom:
Porch:
Bathrooms
Full Baths: 2
Additonal Room Information
Laundry: Inside
Interior Features
Appliances: Cooktop, Dishwasher
Flooring: Engineered Hardwood
Additional Interior Features: Built-in Features, Elevator, Solid Surface Counters, Wood Cabinets, Kitchen/Family Room Combo
Utilities
Water: Public
Sewer: Public Sewer
Other Utilities: Cable Connected,Electricity Connected,Other
Cooling: Central Air
Heating: Central
Exterior / Lot Features
Attached Garage: Attached Garage
Garage Spaces: 2
Roof: Other
Pool: Community
Lot View: Bay,Marina,Water
Additional Exterior/Lot Features: Outdoor Grill, Other
Waterfront Details
Standard Water Body: HILLSBOROUGH BAY
Water Front Features: Bayfront, Bay Access
Community Features
Community Features: Sidewalks, Pool, Clubhouse, Gated, Fitness, Golf Carts OK, Community Mailbox
Security Features: Gated Community
HOA Dues Include: Reserve Fund, Insurance, Maintenance Grounds, Maintenance Structure, Pool(s), Electricity, Internet, Other, Association Management
Driving Directions
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.
Financial Considerations
Tax/Property ID: A-25-29-18-50D-000000-00704.0
Tax Amount: 8615.39
Tax Year: 2025
A broker reciprocity listing courtesy: COMPASS FLORIDA, LLC
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Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 2 Adalia Avenue #704
Sales History
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Tax Summary
| Tax Year | Estimated Market Value | Total Tax |
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| Currently not available. | ||
Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 2 Adalia Avenue #704
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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