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$649,900
2 Beds ⋅ 2 Baths ⋅ 509 | Davis Islands Pb10 Pg52 To 57 And Pb17 Pg5 T SubDv. ⋅ 33606 Zip Code
Build your vision in the heart of Davis Islands, one of Tampa’s most distinctive and desirable neighborhoods. Situated on a buildable 50-by-103-foot interior lot, this RS-60 property presents a rare opportunity for a builder, developer, or future homeowner to create a custom residence surrounded by the island lifestyle. From this central location, enjoy easy access to the shops, restaurants, and neighborhood businesses of Davis Islands Village, along with Tampa General Hospital, Downtown Tampa, the Riverwalk, and Bayshore Boulevard. Davis Islands offers an exceptional collection of recreational and waterfront amenities, including Marjorie Park Marina, a public boat ramp, the Davis Islands Yacht Club, dog park, private airport, Sandra W. Freedman Tennis Complex, Bayshore Little League fields, and the Davis Islands Garden Club. An extensive sidewalk network connects the neighborhood to the Riverwalk and Bayshore, making it easy to enjoy everything from morning walks and waterfront sunsets to dining and recreation. The value is primarily in the land. The existing one-story block home was built in 1955 and contains approximately 1,313 square feet of reported living area and 1,790 gross square feet. It experienced flooding during Hurricane Helene and has been professionally remediated but not rebuilt. Portions of the interior have been removed approximately three feet from the floor, including drywall, flooring, lower cabinetry, plumbing fixtures, and appliances. The home is vacant and is being sold strictly as-is. The property includes public water, public sewer, electric service, a one-car garage, front porch, and enclosed porch. It is located in FEMA Flood Zone AE. The seller will provide the available survey and remediation documentation, and an existing open permit is expected to be closed before closing. No HOA or CDD fees. Whether designing a refined coastal-inspired residence, a modern architectural statement, or a timeless custom home, this property offers the chance to build within one of Tampa’s most connected and sought-after communities. Buyers should independently verify zoning, lot dimensions, square footage, flood requirements, permitting, redevelopment feasibility, and all information relevant to their intended use.

621 E Davis Boulevard, Tampa
$649,000
2 Beds ⋅ 2 Baths ⋅ Adalia Bayfront Condo SubDv. ⋅ 33606 Zip Code
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