516 Lake St is listed for sale at $ 2,800,000. The Single Family property has 5 bedrooms, 5 Full Bathrooms, 1 Half Bathroom, 4028 square feet and was built in 2025. The lot size is 0.15 Acres. BRLocated within The Drace, Kingsland’’s premier gated waterfront enclave, the new construction residence at 516 Lake St. offers a balance of modern lake living and flexible, guest-friendly spaces. Positioned in one of Lake LBJ’’s most desirable vacation destinations, the property presents strong investment potential, with projected rental income exceeding $100K annually based on comparable nearby homes of similar size and amenities. Spanning 4,028 sq. ft. with five bedrooms and 5.5 baths, the home is well-suited as both a private retreat and income-producing property with a private pool, covered outdoor living, multiple decks and balconies, and a private boat dock to enjoy. The open-concept main level features a spacious living, dining, and kitchen area anchored by a waterfall island, along with a wet bar just off the main living space for easy entertaining. Two guest suites on this level offer flexibility for multi-family stays or guests who prefer main-level access, while upstairs, the primary suite offers a private retreat with its own balcony. An additional lounge area with built-in bunk beds expands sleeping capacity without sacrificing comfort. An elevator provides convenient access between levels, while the garage is equipped for electric vehicle charging-adding everyday ease for owners and guests alike. The Drace’’s private boat ramp and overflow/trailer parking enhance both convenience and rental appeal, making this property a strong opportunity for those seeking a luxury waterfront home on Lake LBJ.