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501 Venice Ave W
Venice, FL 34285

Rare 10% CAP Rate Offering! · Multifamily Property For Sale · 13 Units

PROPERTY FACTS

No. Units 13
Property Type Multifamily
Property Subtype
Apartment
  • Hospitality Hotel
Apartment Style Low Rise
Building Class C
Lot Size 0.58 AC
Building Size 8,927 SF
No. Stories 2
Year Built 1959
Parking Ratio 10/1,000 SF

Unit Amenities

  • Air Conditioning
  • Microwave
  • Kitchen
  • Oven
  • Grill
  • Smoke Free

Site Amenities

  • Business Center
  • Courtyard
  • Laundry Facilities
  • Pool
  • Property Manager on Site
  • Community-Wide WiFi

About 501 Venice Ave W , Venice, FL 34285

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, "on the Island" in Venice Florida. The first parcel is located directly on the Downtown Venice “main strip” of Venice Avenue, just west of all the popular retail destinations 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 location is within two blocks west of downtown Venice, and just three blocks east of Venice Beach. All said,the offering is a tremendous opportunity to acquire an established hotel asset with strong upside, in a high demand vacation market with very limited competition. The property has consistently generated $850,000 in gross annual income over the last 4 years; with a strategic marketing campaign, modest cosmetic upgrades, and minor adjustments to the management structure, a 10% annual increase in sales is extremely attainable!

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0176-08-0002
Land Assessment
$780,000
Improvements Assessment
$922,200
Total Assessment
$1,702,200

zoning

Zoning Code RMF-4
RMF-4
  • Listing ID: 13750167

  • Date on Market: 9/10/2018

  • Last Updated:

  • Address: 501 Venice Ave W, Venice, FL 34285

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