Experience waterfront living at its finest with this MULTI-GENERATIONAL estate located in South Gulf Cove, offering direct access to the open waters of the Gulf of Mexico. With an easy manageable lock system, enjoy a consistent water depth of 5-6' in the canals all year. This versatile home is the ideal setting for those with a large family, those who enjoy hosting, those looking for a short-term rental revenue, or perhaps a combination of all three. Although located in an optional HOA community, there are no restrictions on short term rentals. Fully furnished and featuring 7 bedrooms, 4.5 bathrooms, 2 full kitchens, 2 living rooms, and 2 dining areas. With dedicated entrances, the home could be separated into two distinct residences. As you enter through the doors of the main home, you'll be greeted by a warm, welcoming palette and an abundance of windows and French doors that provide stunning views of the heated pool with a waterfall spa and the gently flowing canal. The lower level of the main house includes a full bathroom and two bedrooms, one of which has direct access to the pool area. Ascend the stairs to the primary suite boasting of a spacious sitting area with a private sun porch entrance and a two-way fireplace that can be enjoyed from both the bed and the ensuite bathroom's jetted tub. Down the hall you'll find two additional bedrooms, each with a large window bench for the qualified daydreamer. The upper-level guest rooms share a Jack and Jill bathroom. Returning to the first floor, a set of French doors lead you into the in-law suite, which includes its own full kitchen, dining area, additional sitting area, full bathroom, living area, and two large bedrooms, all accessible through a separate entrance. Situated on a ½ acre lot with 175 feet of water frontage, the property is equipped with a wooden dock on a concrete seawall, complete with electricity and running water. It is time to get back to boating and relaxing weekends. Recent updates include a roof replacement (2019), HVAC replacement (2021), and new garage doors (2022). Conveniently located near shopping, pristine Manasota Key beaches, numerous golf courses, the Atlanta Braves Spring Training Complex, Tampa Bay Rays Spring Training Stadium, historical Punta Gorda, and many other attractions. There is something nearby that fits all lifestyle themes. This home offers a blend of comfort and convenience for a variety of lifestyles. Please inquire about rental rates, potential revenue, and forthcoming reservations.