This is a rare opportunity to own a truly unique five-bedroom, four-and-a-half-bath compound nestled in the heart of Florida's waterfront paradise. The crown jewel of this property is the location, perched directly on the Alafia River with endless potential for transformation. With an investor mindset and a bit of creativity, this one-of-a-kind home can become a showstopper. The main house features soaring cathedral ceilings with exposed wood beams and a dramatic two-story fireplace that connects the kitchen and living area, creating an open, inviting space filled with natural light. A wide staircase adding both elegance and accessibility to the upper level. Two upstairs master suites, both with ensuite baths. One master opens to a private deck offering stunning water views. The lower level of the main home has been refreshed with new drywall and upgraded electrical following minimal water damage. Remediation has been fully completed, including the installation of a brand-new AC unit. The bottom floor is prepped and ready for your vision. The layout includes a detached two-bedroom guest house or mother-in-law suite with its own entrance, kitchen, 1.5 baths, and laundry, offering excellent income potential for short or long-term rental use. Additional highlights include paid-off solar panels for reduced energy costs, a newly serviced septic system, a fully fenced yard, a high-clearance RV-ready carport, and a second garage with additional laundry access. The backyard is a private retreat with a reinforced seawall, heated spa under cover, boathouse with a remote-controlled lift, and a dedicated fish-cleaning station for your catch of the day. The home is located with quick access to I-75, US-41, and the Crosstown, making it ideal for commuters or vacation renters. With no HOA or CDD restrictions, this property is perfect for use as an Airbnb, full-time residence, or even a waterfront event venue. Repairs are currently underway, and now is the time to act fast and take over the project while the opportunity is still available. This is a boater’s dream home with character, flexibility, and space to make it your own. Bring your offers and let your vision bring this waterfront compound to life.