Nestled in one of Lake Austin's most desirable neighborhoods, this thoughtfully updated property offers a rare combination of flexible living space, modern finishes, and direct access to the outdoor lifestyle that makes this area so special. Currently operating as a successful Airbnb, the home is equally suited as a primary residence, weekend retreat, or turnkey short-term rental. For buyers interested in continuing the business, most furnishings are available to convey. The property features a two-bedroom, one-bath main home along with a guest apartment attached to the two-car garage. Complete with an additional bedroom, living area, partial kitchen, and half bath, the guest space offers exceptional flexibility for visitors, multigenerational living, a home office, or continued short-term rental use. Thoughtfully equipped with a full-size sink, dishwasher, and ample cabinetry, it functions comfortably for extended stays. Inside the main home, you'll find an open, inviting layout with durable laminate flooring throughout-no carpet-along with striking waterfall-edge granite countertops, an updated bathroom, and abundant natural light. Step outside and enjoy one of the property's most unique features: the backyard backs directly to Fritz Hughes Park, offering easy access to green space and the shores of Lake Austin just beyond. A voluntary neighborhood membership provides access to the community boat ramp, making it easy to spend your days boating, paddleboarding, kayaking, or fishing on the lake. Whether you're looking for a home that embraces the Lake Austin lifestyle or a fully furnished property with an established short-term rental history, this one offers exceptional flexibility in an unbeatable location just minutes from local marinas, waterfront dining, and everything that makes Austin's lake area so desirable.