An extraordinary, flexible waterfront compound opportunity awaits on Lake Travis, combining two distinct properties across a quiet street in Volente with no HOA and low taxes. Comprising a total of 1.49 acres under the jurisdiction of Travis County and the Village of Volente, this offering provides ultimate freedom for a grand estate or a premium co-living setup, all within the acclaimed Leander ISD and just 15 minutes from HEB and Target. The showcase begins at 8018 Lakeview Street, a 0.43-acre waterfront parcel boasting incredible lake and hill country views. The 2,480-square-foot home features a generous living room with large windows opening to a deck overlooking the water, a primary bedroom with a private hot tub balcony, and a versatile four-bedroom, two-bath layout where one room serves perfectly as a home office. Outdoor entertaining thrives here with multiple terraces, a fire pit, a workshop with electricity, and a conveying boat dock. Major updates include a 2024 roof and a 1,000-gallon double-filtration lake pump system. Located a golf cart ride from Beachside Billy's and eligible for a Volente short-term rental license, this waterfront property offers unmatched lifestyle and income potential. Directly across the street at 8023 Lakeview Street, the 1.06-acre parcel features a pristine structure built in 2021. It includes a massive 1,196-square-foot, three-car garage with nearly nine-foot ceilings beneath a beautiful, fully connected 1,176-square-foot, two-bedroom, two-bathroom residence. This lot features its own well, septic, and electricity, alongside great building envelopes completely outside of the flood plain. With no zoning restrictions except for commercial use, it is an ideal canvas to build an additional primary custom home while utilizing the existing structure for guests, multi-generational living, or an extended household.