Located on 3.5 luxuriously landscaped acres (2.8 upland) overlooking RAINBOW LAKE, this Tuscan masterpiece was an award-winning model home built by Lee Fernandez. Fine architectural details can be found throughout this classic Mediterranean home including 10’ arched front doors, ITALIAN TRAVERTINE stone flooring and custom columns. Walking into the home the spacious formal living room greets you with large, beautiful windows that offer dazzling views of the lake and custom PEBBLE TEC POOL with spa. A grand, GAS FIREPLACE completes this room and provides a wonderful space for entertaining guests or a relaxing place to unwind after a busy day. A spacious dining room also with large windows and custom wood crown molding is located off the living room and can easily seat a table for 10. An arched hallway leads you from the living/dining area into the CHEF’S KITCHEN and family room. Here you will find custom coffered ceilings, a gourmet eat-in kitchen with high end custom cabinetry, center island with sink, GRANITE COUNTERTOPS, THERMADOR appliances, TWO REFRIGERATORS with cabinet paneling and a walk-in pantry. A 6-BURNER GAS RANGE with CUSTOM COPPER HOOD and pot filler completes this amazing space. Natural light fills the kitchen and family room with oversized windows providing more incredible outdoor views. This will be one of your favorite spots in the home for sure! This fantastic split floorplan has a grand master retreat and executive style office located on the east side of the home. The master suite boasts a beautiful sitting area with an abundance of natural light, a SPA-LIKE BATHROOM WITH CLAWFOOT TUB, large walk-in shower with RAIN SHOWER HEAD, and a dual sink vanity with makeup station. A custom walk-in closet with built-in storage can be accessed through the bathroom. On the opposite side of the home, a hallway off the kitchen leads to two spacious bedrooms each with ensuite bathrooms, a WINE ROOM and laundry room. The hallway from the family room leads to a 4th bedroom, and across from it is the pool bath. A staircase leads to the incredible BONUS ROOM and MULTI-LEVEL THEATER. Upstairs you will also find a full bathroom, WET BAR, POOL TABLE and an unbelievable BALCONY where you can enjoy gorgeous sunsets. Stepping outside, the peace and serenity of RAINBOW LAKE will immediately relax you. Beyond your BUILT-IN OUTDOOR KITCHEN, you will find beautiful cypress trees and a well-manicured lawn. Enjoy the gazebo style dock area complete with water and electricity to accommodate a boat, jet ski, kayaks, paddleboards, etc. Welcome home to RAINBOW LAKE – your private Odessa retreat awaits!
Single-familyProperty Type
2007Year Built
3.48 acresLot Size
$467Est. Price/Sq.Ft.
3 car garageParking
Listed by Wendy Ross• FLORIDA EXECUTIVE REALTY
Bought with Bernard Marshall• COLDWELL BANKER REALTY
Welcome to this gorgeous 6,287 sqft mediterranean masterpiece. This fabulous estate sits on 3.48 acres of waterfront property overlooking the highly desirable ski lake known as Rainbow Lake. It’s a 4 bedroom, 5.5 bathroom home with an office, movie theater, wine cellar/room with a wrought iron gate entry, bonus room with a wet bar, and plenty of other room to spread out in. The oversized 10ft arched front door, custom columns, and Italian travertine stone flooring transport you to a feeling of living lavishly somewhere in Europe. One of the best features of this home is the abundance of massive windows that overlook the views of Rainbow Lake. When you walk into the home you’ll enter into the formal living room which has a custom tray ceiling, a palatial propane fireplace, and of course a jaw dropping view of the heated, Pebble Tec, salt water pool, waterfall spa and lake. The dining room is quite spacious and can comfortably fit a table of 10. Enter through the arched hallway to the kitchen/family room. Now a lot of features will beg for your attention, but some things that will be impossible to miss are the custom coffered ceilings, gourmet eat-in kitchen with granite countertops, high end custom wood cabinetry, Thermador appliances with cabinet paneling (TWO refrigerators), and a secret walk in pantry through the cabinets! Overlook the fantastic views from both the kitchen and the family room through some of the best windows in the home. Fantastic split floor plan with the master suite and office on the east side of the home, two bedrooms and the wine room on the west side of the home, and the fourth bedroom and stairs to the second floor at the back of the home. In the Master suite there is a sitting area with tons of natural light, a spa-like bathroom with a clawfoot tub, large walk-in shower with a rain shower head and multiple shower faucets, large dual sink vanity with a makeup station, and a large custom walk-in closet. Upstairs is the multi-level movie theater, wet bar, bonus room/loft with a full bathroom, and an unbelievable balcony with (more) jaw dropping views. This smart home can be controlled from your phone: security system, pool, outdoor propane fire pit, TVs, indoor/outdoor audio, etc. (tutorial included if needed!). Step out towards the water, past your built in cabana kitchen, and through the extensive mature and well manicured landscaping to your very own private covered dock with running water, electric and an open deck area to enjoy waterfront living at its best on Rainbow Lake. As an added bonus the home also has a concrete poured "safe room" built to FEMA standards. Some of the many other fantastic features worth mentioning are: 7in custom baseboards, crown molding, a 6 burner gas range with pot filler and custom copper hood in the kitchen, all new pool equipment a few years ago, and a gorgeous barrel tile roof! Additionally it’s important to note that 3/4 of the bedrooms have bathroom en-suites and every bedroom has a walk-in closet! Ready to see it? Call and schedule your appointment today or request our virtual walkthrough tour where you can click your way through the home.
Stellar MLS as Distributed by MLS Grid #U7789917
Jun 26, 2017
Sold
$1,650,000
$262/sq ft
Jun 2, 2017
Pending
—
Feb 10, 2017
Price Changed
$1,975,000
$314/sq ft
Aug 29, 2016
Listed
$2,399,000
$382/sq ft
Located on 2.81 luxuriously landscaped acres overlooking Lake Rainbow, this Tuscan masterpiece was an award winning model home built by Lee Fernandez in 2007. Outdoor amenities include a gazebo dock, Pebble Tec saltwater pool and waterfall spa, firepit with bench seating, outdoor kitchen and covered lanai. Superb architectural design combines with outstanding craftsmanship in the upgraded interiors which include Italian travertine floors with inlays, custom ceiling treatments, crown moldings, custom built-ins and volume ceilings. Entertain graciously in the open formal rooms with a cozy gas fireplace, decorative columns and hall bar and wine cellar. The island kitchen with rich wood cabinets, granite counters and chef’s appliances opens to a breakfast area and family room overlooking the lake. The master wing features a private study, bedroom sitting area and luxury bath with clawfoot tub, oversized walk-in shower, dual sink vanity and custom walk-in closet room. A second floor game room offers a wet bar and sliding doors to a lakefront terrace with an adjoining multilevel media room.
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Permits
Beds
4
Baths
6
Stories
2
Lot width
147 ft.
Lot depth
200 ft.
Lot size
3.48 Acres
Year renovated
2015
Sq. Ft.
6,287
Year built
2007
Style
Single Family Residential
County
Hillsborough County
APN
0020980406
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 31, 2026.
ASC-1
Agricultural, Single-Family Conventional District
The purpose of this district is to encourage agricultural and related uses and permit single-family conventional development in a rural environment on lots containing a minimum of 1 acre.
Permitted uses
Include but are not limited to:
Agriculture
Housing-Single unit
Housing-Other
Educational/school
Library
Recreation
Casino / gaming facility
Park & open space
Mar 4, 2025 • Final
Residential plumbing trade
Remove a homeowner-owned above-ground liquid propane tank and install a company-owned underground liquid propane tank. Install a service line and tie the new tank into the existing system.
Gas
Plumbing
Oct 1, 2021 • Final
Residential mechanical trade
Replace a 2.5 ton heating and air conditioning system with a 14 SEER unit. The work includes a change out of the air handler and condensing unit.
HVAC
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.