Description

BUY FOR $240,000 WITH ASSUMABLE 2.75 RATE INTEREST MORTGAGE (23+ YEARS)ASSUMABLE 2.75 RATE INTEREST MORTGAGE | DUAL-LOT BUILD/HOLD/FLIP | SOUTH VENICETHE FINANCING: $160,000 assumable mortgage at 2.75 rate interest with 23+ years remaining (lender-verified). At $400,000 purchase price, buyer invests $240,000 down and assumes existing note at 2.75 rate interest-significantly below current conventional rates. Lender approval and assumption fee required. Second buildable lot requires refinance to separate; assumable will not allow the separation of the vacant ready to build lot; valued $90-95K, recent 8,000 sqft comparables.INVESTOR CASE: Area rents $2,100-$2,800/month. Includes boat/RV/trailer storage, off-street parking, utilities (electric only), and annual private beach passes.THE PROPERTY: Two merged 8,000 SF parcels (16,000 SF total, one legal description). Deeded community beach via ferry (1,000 ft away). Optional $200/year pass for ferry and private boat launch access. Optional community center membership. Free water and septic service on house lot.THE LAND: Second 8,000 SF lot is fully buildable and zoned for development. Approved for single-family residential. Separates and sells independently if financed and not assumed loan; represents capital recovery path or expansion/hold opportunity. No deed restrictions.THE HOUSE: Fully updated 2-3-bedroom, 2 bath: entire house, all interior rooms under roof with A/C, 1,390 sf.Kitchen: Entire kitchen redone. Granite counters, 18 custom cabinets, under-cabinet LED, recessed lighting. Appliances (avg. 2.5 years): beverage cooler, refrigerator, air fryer/convection oven, slim-profile microwave, dishwasher. Counter seating. Reverse osmosis water treatment (2 years old). Stainless steel euro sink, commercial faucet wand and racks.Flooring & Structure: Engineered hardwood throughout (recently replaced). Roof 7.5 years. A/C system with new compressor (August 2026). 4-season porch with new split A/C unit.Bedrooms & Living: Master with walk-in closet. Garage converted to third bedroom. Flex room/office/living space with barn door privacy. Remote ceiling fans. Recessed TV with ambient backlighting. 5-foot electric fireplace. Opens to counter dining kitchen.Finishes: all windows plantation shutters (exterior). All LED lighting with remote controls. Security lighting (front). New laundry room with washer/dryer and counter. Two new closets added in laundry and bedroom.Outdoor: 16à?16 patio. Gated fenced backyard. 10à?12 storage shed (to be roofed). Landscaping includes lemon tree and native beach plantings (bougainvillea, beach grass). Easy-care property.Utilities: Free water (well). Free septic. Electric only. New A/C condenser (August 2026). Split A/C for 4-season porch. 2-year-old whole-house eco water treatment system.Flood Zone: AE, bordering X500. Zero documented flood or storm damage history.LOCATION: Intracoastal Waterway proximity and access. Deeded beach and boat launch. Downtown Venice, 5 public beaches, shopping, dining. Sarasota (SRQ) and Punta Gorda (PGD) airports. Medical, commercial, hardware retailers, and municipal services minutes away.