Short Sale. Short Sale!!! Investor opportunity with endless potential on Little Lake Victoria! This rare short sale property sits on 1.68 secluded acres in South Lakeland on a private peninsula with water on three sides, offering breathtaking lake views from nearly every room. If you've been searching for a one-of-a-kind waterfront estate to renovate and transform into something spectacular, this is it. The main home features 4 bedrooms and 3 bathrooms, including a private 4th bedroom suite located off the garage with its own entrance and bathroom - ideal for an older child wanting independence, guests, a home office, or multigenerational living. While the home needs significant updating and repairs, the setting and layout offers incredible possibilities for the right buyer with vision. Adding even more value and opportunity is the detached 2 bedroom, 2 bathroom cottage located on the property. The cottage is currently not livable after sustaining major roof damage during the last hurricane, but the potential is undeniable. With extensive renovation, it could become an income-producing rental, AirBnB, guest house, or the perfect detached in-law home for an amazing family compound. Important updates already completed on the main home include a new roof, septic system, and drainfield in 2020, along with a new AC in 2017. This property is being sold as a short sale and will require lender approval. The listed price is not guaranteed to be the final accepted sales price. Buyers should expect a lender response time of approximately 60-90 days. Cash offers only due to the condition of the property. Bring your vision, roll up your sleeves, and look beyond the tall grass and deferred maintenance - because this hidden waterfront estate could truly become paradise once again. NO SITE UNSEEN OFFERS WILL BE CONSIDERED!