Under contract-accepting backup offers. Virtually Staged. Discover the timeless appeal of this classic 1962 Mid-Century Modern waterfront residence, perfectly positioned on Phillippi Creek in Sarasota's highly coveted South Gate neighborhood. Set on an oversized quarter-acre-plus homesite, this exceptional property captures breathtaking water views and offers endless potential to restore or reimagine a true architectural gem. A 430-square-foot screened lanai stretches across the rear of the home, seamlessly connecting the living and dining areas, kitchen, and primary suite to the tranquil waterfront setting. The thoughtfully designed split-bedroom floor plan features three bedrooms, including a spacious primary retreat with picturesque creek views, an en-suite bath, and a generous walk-in closet. Authentic Mid-Century Modern details abound, including iconic pink and yellow vintage tile baths, terrazzo flooring beneath the carpeting in the main living areas and bedrooms, and Saltillo tile in the eat-in kitchen and lanai, where a wall of glass frames the serene waterfront and opens to the lanai. A large laundry and storage room adjoins the one-car garage, while the circular driveway provides abundant parking for family and guests. Ideally located within the sought-after Southside Elementary School district and two blocks to Brookside Middle School, this home is just minutes from world-renowned Siesta Key Beach, vibrant downtown Sarasota, premier shopping, dining, and cultural attractions. South Gate has an optional $200/annual HOA membership allowing use of the community pool and Sarasota School of Architecture clubhouse. Situated in Flood Zone X, the property experienced no recent flooding. Whether preserving its iconic Mid-Century character or creating a stunning custom waterfront showcase, this is a rare opportunity to own an exceptional piece of Sarasota waterfront living. Home needs TLC and a roof replacement.