501 Venice Avenue W
VENICE, FL 34285

$2,770,000

Description

Sold as a Portfolio - The Venice Beach Villas is an owner manager/operated twenty-three-unit hotel, located on two parcels of land, within a five-minute walk of each other. The first parcel is located directly on the Downtown Venice main strip of Venice Avenue, just west of all the popular retail destinations. This location features thirteen total units, in three masonry/concrete block construction buildings. The unit mix for this location consists of One, 2 bedroom / 2 bathroom unit, Three, 2 bedroom / 1 bathroom units, Seven, 1 bedroom / 1 bathroom units, and Two, studio/efficiency units. The Venice Ave location features the main office for both properties, and is equipped with a larger heated in-ground pool. The location is within one block west of the downtown shops & restaurants, and just three blocks east of the luxurious sand on Venice Beach! The second parcel is located just a five-minute walk south of the Venice Avenue location, and features ten total units, in four masonry/concrete block construction buildings. The unit mix for this location consists of One, 2 bedroom / 1 bathroom units, Seven, 1 bedroom / 1 bathroom units, and Two, studio/efficiency units. Menendez features a screened in swimming pool, vibrant landscaping, gazebo, and BBQ area alongside the pool. The location is within two blocks west of downtown Venice, and just three blocks east of Venice Beach. All said, the Venice Beach Villas offering is a tremendous opportunity to acquire a well performing hotel asset with upside, in a strong vacation market, with limited competition DO NOT WALK PROPERTY, DISTURB MANAGEMENT OR GUESTS

Details

MLS#U8007869
StyleIndustrial
Sub-TypeResale
StatusActive
Year1952
Days On Site10

Features

SQ Feet6,197
Story(s)1
ZoningNHO2

Market Activity 34285

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Area Information

StateFL
CountySarasota
CityVENICE
Zip Code34285
Area34285 - Venice
Listing VS Median (in 34285)
Price:
$2,770,000
low | high
Med:
$259,800
100% of Average
SqFt:
6,197
low | high
Med:
1,056
100% of Average
$ / SqFt:
$447
low | high
Med:
$246
94.970434449941% of Average
On Site:
10
low | high
Med:
114.5
8.733624454148% of Average
Listing Updated: 06/23/2018
MLS Number: U8007869
Listing Provided By:
Debbie Mueller  of  RADIANT ASSET MANAGEMENT INC

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