A truly unique property boasting an additional guesthouse featuring 3 individual apartments offering 4 bedrooms and 3 bathrooms collectively. If having many options is what you like, then you will enjoy the rental income from the guest house with 4 apartments/studio/ efficiencies that are currently rented, or possibly adding additional homes creating a true family compound. This historic Mediterranean Revival home was once listed in Sarasota Magazine as "Our City's 10 Most Beautiful Homes," and rightfully so. In addition to the guesthouse, there is a cabana with an attached spacious storage shed. The historic name given to this residence by the original owner is "Casa della Pace" meaning "House of Peace". The property is truly a compound surrounded by an 8-foot concrete wall around three large lots across from Venetia Park. The home itself boasts five bedrooms, three baths, a grand great room with a crystal chandelier, beamed ceilings and a wood-burning fireplace. Capture a little quiet time in the reading nook or sip your favorite beverage in the sunroom. Entertaining will be a must in this expansive and sprawling estate with a charming courtyard featuring wrought-iron gates, tropical plantings and grounds to seek peace and tranquility. Owned by the same family for over 62 years and said to be the second-largest privately-owned property on the Island of Venice, this truly is a rare find. Adding to the appeal of this property, it is centrally located in the historic Venetian Park district, a short distance to downtown, shopping, dining, the hospital, two parks, library, community center, art center, tennis courts, municipal airport and of course the beach, where we are famous for being "the shark tooth capital of the world.‹ Being a bike-friendly community, Venice sponsors many bike touring events and you will see friendly faces everywhere you go riding around in golf carts. If you are looking for something unique and special, your search is over. This is a must-see property to fully appreciate all the options and advantages of living in paradise on the Island of Venice.