LAKE ELIZABETH WATERFRONT CANAL LOT 21 The current buyers market has made a great opportunity for you to own a waterfront property. All these Homes Only Parcels are just beautiful. They are cleared and ready for your home. Lake Elizabeth is a peaceful 115 acre private no wake Lake and is great for canoeing, fishing & kayaking. This subdivision is all paved. Lake Elizabeth is an easy commute to Gainesville, Palatka & Ocala. Please check the MLS for our other available lots! MLS# 330058.