Welcome to 324-326 Black Bass Bay, a stunning 4.5-acre, waterfront property, offering endless swimmable shoreline and panoramic views of beautiful Mississippi Lake. This estate would make the perfect family compound, investment property, development property, hobby farm or lakeside retreat. Conveniently located in close proximity to Ottawa (and minutes from Carleton Place), this rare offering includes a 'LAKE HOUSE' (raised bungalow), a four season 'COTTAGE', a stunning 'BOATHOUSE', several outbuildings and room for anything you can imagine (only half the lot has been developed / cleared). The 'lake house' features 4 bedrooms and 3 bathrooms across 2000 square feet. Large windows frame water views from nearly every room, while the bright sunroom and walk-out lower level maximize your connection to the lake. A massive deck overlooks the bay, ideal for entertaining or quiet relaxation. The 'lake house' features stone counters in both the kitchen and bathrooms (along with updated cabinets), hardwood flooring throughout and fresh paint. The attached garage provides convenience and plenty of additional storage. The fully insulated 2-bedroom guest 'cottage' with a large deck and forced-air furnace is perfect for four-season use whether hosting family, accommodating guests, or generating rental income. The 'boathouse" adds versatility, offering space for additional guest accommodation, or an amazing home office, gym, studio or workshop. Outdoor living shines with a scenic dock, waterside outbuilding, and additional garden & equipment sheds. The flat, clear lot is ideal for recreation or future development. The parcels size and configuration present exciting severance potential. Whether enjoying a swim, hosting a lakeside gathering, or unwinding by the water, every detail of this property invites year-round enjoyment. With unmatched acreage, shoreline, and versatility, this unicorn offers endless opportunities to create memories and build future value.