141 penbay place

1.5+ Acre Lake Hamilton View Property | Peninsula Point Area A rare opportunity to own approximately 1.5+ acres in the desirable Peninsula Point area with elevated views overlooking Lake Hamilton. Set in a peaceful, natural setting, the property offers the potential for expansive panoramic lake views along with multiple possibilities for renovation, new construction, or future development. The existing one-owner home is in need of substantial TLC and renovation, but its history and design set it apart. The residence was architecturally designed by the owner’s brother, who studied under renowned Arkansas architect E. Fay Jones, and was built by the owner’s father, a general contractor with more than 30 years of residential and commercial construction experience. Its distinctive design provides a compelling foundation for buyers interested in restoring, renovating, or reimagining a truly unique property. The generous acreage also creates flexibility for a variety of uses. A buyer may choose to renovate the existing residence, use it as a guest home while constructing a new primary residence positioned to maximize the elevated lake views, or explore the possibility of subdividing the property into multiple buildable lots, subject to applicable city approvals, zoning, utilities, and development requirements. Located just minutes from Lake Hamilton amenities and the conveniences of Hot Springs, this property offers an uncommon combination of acreage, architectural character, privacy, lake-view potential, and development possibilities.