Two homes, five bedrooms, 4 full and 2 half baths on approximately 1.5 acres of waterfront on Terra Ceia Island-one of the area's few true family compounds-are now available. Spanning nearly 1½ acres across two separate parcels, this estate includes TWO residences on Miguel Bay with no deed restrictions, generous parking for boats, RVs, trailers, and “toys,” and a separate 3-bed/2-bath guest home, making it ideal as a multi-generational retreat, second home, or vacation/rental property. This is the Florida waterfront lifestyle dreams are made of. Morning coffee and sunset happy hours just feel different when dolphins and manatees become your neighbors. Western exposure delivers breathtaking sunsets with the iconic Sunshine Skyway Bridge as your backdrop. With no bridges between your dock and Tampa Bay or the Gulf of Mexico, boating, waterfront restaurants, world-class fishing, Egmont Key, Passage Key, and sunset cruises are just minutes away. Originally built in 1937 and thoughtfully updated, the main residence (2 bedrooms, 2 baths, attached 2-car garage) blends timeless character with modern comfort. The kitchen, dining room, and great room are designed to capture panoramic water views, while a beautiful coral fireplace adds warmth and authentic Old Florida charm. Whether preparing dinner, gathering around the table, or relaxing beside the fire, the water is always part of the experience. The spacious upstairs owner's suite features a private waterfront balcony, spa-inspired bath with soaking tub and separate shower, plus flexible bonus space for an office, fitness room, nursery, or sitting area. Outdoor living is exceptional with a newer heated pool, expansive paver deck, covered pavilion, putting green, fire pit, mature tropical landscaping, charming tabby walkways, private dock, and boat lift. The beautifully updated 3-bedroom, 2-bath guest home sits on its own approximately one-acre parcel-ideal for extended family, guests, caretakers, or rental income-and has its own address and parcel ID. Two separate Manatee County parcel IDs provide the flexibility to preserve this long-term family compound, operate it as a vacation or seasonal rental, or potentially sell the homes separately in the future. The first-floor living area has 14' elevation, is in Flood Zone X, and sustained no storm damage during the 2024 hurricanes. A whole-house generator, attached two-car garage, two-car carport, and abundant room for boats, RVs, trailers, and recreational equipment complete the property. With no deed restrictions, you can fully enjoy the boating, RV, and rental potential that make this estate stand out. As an added bonus, owners may join the Terra Ceia Village Improvement Association for approximately $250 per year, providing access to a private waterfront park with boat ramp, fishing pier, pavilion, grills, pickleball courts, and community events. This is more than a waterfront home-it's a private waterfront compound where friends and family can fish from the dock, spend the afternoon in the pool, boat to lunch, and end the day watching another unforgettable sunset over Miguel Bay. Every day feels like a vacation, and the best memories are made without ever leaving home. Convenient to St. Petersburg, Tampa, Bradenton, and Sarasota.