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Lake LBJ Colorado Arm waterfront lot. This lot has 70 feet of excellent Lake LBJ waterfront, scenic views of the lake and Texas Hill Country and beautiful old growth pecan trees. The lot is located in beautiful and peaceful Shangri La Subdivision. The lakefront has a nice level area and already has a concrete cut out for a boat slip and a retaining wall. In addition to the waterfront lot, the lot across the street comes with the property and can be used for a septic system. This is a great place to build your dream home !!!