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$739,900
2 Beds ⋅ 2 Baths ⋅ TB8533925 MLS ⋅ Adalia Bayfront Condominium BLDG.
Experience exceptional penthouse living in Unit 1004 at Adalia Bayfront Condominium on Davis Islands, where breathtaking panoramic views of Tampa Bay create an extraordinary waterfront lifestyle. Situated on the top floor with a desirable southern exposure, this beautifully maintained 2-bedroom, 2-bath residence offers approximately 1,209 square feet of thoughtfully designed living space, along with exclusive keyed elevator access for added privacy and security. The open-concept living and dining area is filled with natural light and flows seamlessly onto an expansive covered terrace, creating the perfect setting to enjoy morning coffee, spectacular sunsets, and the frequent sight of dolphins and manatees in the bay below. Inside, hardwood flooring, smooth ceilings, custom walnut cabinetry (Book and Bank Matched pined seamless), and walnut closet systems complement the home's elegant design. The updated kitchen features generous storage space, modern countertops, and ample workspace for everyday living and entertaining. The spacious primary suite offers direct balcony access, stunning water views, abundant closet space, and a beautifully renovated, spa-inspired bathroom with a walk-in shower. This exceptional residence includes two parking spaces, including one covered garage space, a private storage unit, and ample guest parking. Residents enjoy resort-style amenities, including a waterfront swimming pool, fitness center, outdoor grilling area, and numerous building improvements, including a resurfaced 30' x 8' balcony with southwest views of Old Tampa Bay, reconstructed seawall, exterior painting, and garage enhancements. Boat Slips Available. Ideally located just moments from Bayshore Boulevard, Tampa General Hospital, Water Street, Hyde Park, SoHo, downtown Tampa, Channelside, and Ybor City, Unit 1004 offers the perfect combination of luxury, convenience, and island living. Whether you are searching for a primary residence or a seasonal retreat, this remarkable penthouse presents a rare opportunity to experience some of the finest waterfront living that Davis Islands has to offer.

2 Adalia Avenue Unit 1004, Tampa
$649,000
2 Beds ⋅ 2 Baths ⋅ TB8484507 MLS ⋅ Adalia Bayfront BLDG.
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.

2 Adalia Avenue Unit 704, Tampa