Exceptional income producing waterfront property on peaceful Lake Starr with two private in law suites a rare feature few properties offer. This unique property includes a spacious main residence, a detached cottage, and a in law suite with its own entrance and full privacy ideal for multigenerational living, extended guests, or rental income. The first in law suite is a private, attached upstairs suite featuring a full one bedroom, one bath layout with living area and full kitchen overlooking beautiful Lake Starr. The lower level provides additional storage and a dedicated laundry area. The second in law suite is the detached cottage, currently rented, with a functional kitchen, bedroom, living area, ample storage, and washer/dryer hookup. Both in law suites have separate electric meters, water tanks, and water heaters, allowing for fully independent utility management. Two septic systems one for the main home and one for the cottage further enhance flexibility. The main residence offers expansive living space, including a spacious primary suite with a large walk in closet and an attached room with a private laundry area. Central AC and multiple mini split systems ensure efficient climate control. Additional updates include a mid section roof replacement approximately seven years ago, two storage sheds, and newly installed handicap accessible railing. Enjoy direct lake access perfect for kayaking, paddleboarding, canoeing, and fishing while being conveniently located just north of Downtown Lake Wales with easy access to US 27. This rare waterfront property combines versatile living, strong rental potential, and lifestyle appeal, offering two fully independent in law suites, privacy, and beautiful lakefront views.