Price reduced $100K! Experience luxury lakeside living at Villa 3203 in Phase 3 of the Island on Lake Travis Resort Community, ideally positioned on the coveted southwest sunset side directly on Lake Travis with year round water views (not the cove side). This sought-after second-floor Phase 3 condo is just steps from the Island Restaurant, pools, fitness center, spa, and more. Enjoy sweeping views of Lake Travis, the south pool, and surrounding parkland from this beautifully updated villa. Renovated by the original developer, the home features an open-concept layout, crown molding, large windows, and a seamless blend of travertine stone floor tile and water-resistant flooring. The chef's kitchen offers stainless steel appliances, solid black granite countertops, and crisp white self-closing drawers and cabinetry. The spacious living and dining areas open to a private balcony overlooking year-round water in the lake-perfect for relaxing or entertaining. Both bedrooms are generously sized, including a primary suite with en-suite bath and lake views. A second full bath adds convenience for guests or a home office setup. It is one of the only units in the complex with full surround crown molding in every room added as a custom upgrade. The AC unit was recently upgraded. The porch is one of a few units in each building with an open concept metal railing for superior views of the water and pool area. Phase 3 stands out as the only Phase of the 3 with upgraded electrical infrastructure to each unit, adding long-term value and safety. The unit also includes rare side-by-side flat, level, and wide deeded parking for two cars with a rear (directly behind the deeded parking) finished storage room. This unit has potential access to additional onsite storage currently leased to the owner. Residents enjoy gated security and resort-style amenities including pools, fitness center, tennis/pickleball courts, trails, marina access, and more-all surrounded by the natural beauty of Lake Travis. Located just minutes from Lago Vista and within easy reach of Cedar Park and Austin. Ideal as a primary residence, vacation home, or investment property, with short-term rentals permitted. HOA dues include WiFi, cable, water, and hot water. Available partially furnished and nearly rental-ready. Don't miss this exceptional opportunity to own your private retreat and investment villa directly on Lake Travis.