Waterfront
Address
701 Terrace Dr, Lake Oswego, OR
Price
$ 2,495,000
Property Attributes
- MLS#663841569
- TypeSingle Family
- Listing Status Active
- CountyCLACKAMAS
- CityLake Oswego
- Area147
- NeighborhoodMcvey Southshore
- Zip97034
- StyleTraditional
- Year Built1969
- Taxes$ 28046
- Price$ 2,495,000
- Bedrooms4
- Full Bathrooms4
- Half Bathrooms1
- Sqr Footage3852
- Lot Size0.42 Acres
Data Source:
Regional Multiple Listing Service (RMLSOR)
Property Description
Set on a private 0.42-acre lot in Lake Oswego’s coveted Palisades neighborhood, this lakefront traditional offers sweeping Oswego Lake views and exceptional indoor-outdoor living. The 3,852-square-foot home features vaulted ceilings, sunken living room, formal dining, and an open kitchen / great room that flows seamlessly to outdoor entertaining spaces through French doors. A standout feature is the recently rebuilt private boathouse with an expansive rooftop deck complemented with a dock, boat lift, landscaped grounds, and irrigation supported by deeded water rights—an ideal setting for lakeside gatherings as bald eagles and herons pass overhead.The upper-level primary suite includes a sitting area, dual walk-in closets, and a well-appointed bath. Three large additional bedrooms and a dedicated office offer custom built-ins and generous space.Other recent capital improvements are dual HVAC systems, water heaters, and a whole-house generator, providing year-round comfort and reliability. Additional features include a large two-car garage and security system. With access to top-rated Lake Oswego schools, this is a rare opportunity to own a true legacy waterfront property.
| Elementary School | Middle School | High School |
|---|---|---|
| Hallinan Elementary School | Lakeridge Middle School | Lakeridge High School |
| Price History | |
|---|---|
| 4/24/2026 | Listed $2,895,000 |
| 6/10/2026 | 7$2,695,000 |
| 7/28/2026 | 8$2,495,000 |
General Features
| Sewer | PublicSewer |
|---|---|
| Heating | ForcedAir |
| Cooling | CentralAir |
| Roof | Composition |
| Appliances | BuiltinOven,ConvectionOven,Dishwasher,Disposal,DownDraft,FreeStandingRefrigerator,GasAppliances,Granite,InstantHotWater,Microwave,PlumbedForIceMaker,StainlessSteelAppliance,WaterPurifier |
| HOA Fee | 2985.0 |
| Garage Spaces | 2.0 |
| Architectural Style | Traditional |
| Security Features | SecuritySystemOwned |
| Year Built | 1969 |
| Stories Count | 2 |
| Property Subtype | SingleFamilyResidence |
| Tax Year | 2025 |
| Parcel Number | 00250542 |
| Waterfront Features | Lake |
| Accessibility | AccessibleFullBath,GarageonMain,MainFloorBedroomBath,UtilityRoomOnMain,WalkinShower |
| HOA Fee 2 | 7500.0 |
| Assoc Fee Paid Per | Annually |
| County | Clackamas |
| Property Type | Residential |
| Association Amenities | BoatSlip,Management |
| HOA | Yes |
| Subdivision Name | Mcvey Southshore |
| Full Baths | 4 |
| Status | Active |
| Directions | Southshore to Palisades Terrace to Terrace |
| High School | Lakeridge |
| City | LakeOswego |
| Body of Water | Oswego Lake |
| Disclosures | Disclosure |
| MLS Area | _147 |
| Lot Size Square Feet | 18295.0 |
| Listing Terms | Cash,Conventional |
| HOA Fee 2 Frequency | OneTime |
| Elementary School | Hallinan |
| Tax Annual Amount | 28046.7 |
| Middle/Junior High School | Lakeridge |
| Property Condition | Resale |
| Standard Status | Active |
| Accessory Dwelling Unit Y/N | No |
| ViewDescription | Lake |
| Legal Description | SECTION 09 TOWNSHIP 2S RANGE 1E QUARTER DA TAX LOT 00300 |
| AttributionContact | harnish@harnishproperties.com |
| SeniorCommunityYn | False |
| ADU | False |
Interior Features
| Interior Amenities | AirCleaner,CeilingFan,GarageDoorOpener,HardwoodFloors |
|---|---|
| Basement | CrawlSpace,ExteriorEntry,StorageSpace |
| Total Fireplaces | 2 |
| Fireplace Features | Gas |
| Hot Water | Electricity,Gas |
| Window Features | DoublePaneWindows,StormWindow |
| Total Bathrooms | 4.1 |
| FuelDescription | Electricity,Gas |
| Total Bedrooms | 4 |
| Total Baths | 5 |
| 1/2 Baths | 1 |
Exterior Features
| Exterior Amenities | BoatHouse,CoveredPatio,Deck,Dock,Fenced,Garden,GasHookup,Outbuilding,Sprinkler,StormDoor,Yard |
|---|---|
| Parking Features | Driveway |
| Lot Features | Private,Sloped |
| Water Source | PublicWater |
| Total Parking | 2.0 |
| Garage Type | Attached |
| Exterior Description | Brick,Cedar |
| Foundation Details | ConcretePerimeter |
| Building Area Total | 3852.0 |
| Lot Size Acres | 0.42 |
| Road Surface Type | Paved |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 97034
Price
Taxes
Year Built
Visits
All information provided is deemed reliable but is not guaranteed and should be independently verified. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by RMLSTM.
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLSTM of Portland, Oregon. Real estate listings held by brokerage firms other than Portland are marked with the RMLSTM logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2026 RMLSTM, Portland, Oregon.
This content last updated on September 12, 2026 6:25 PM UTC at 4 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Southern Oregon Multiple Listing Service All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be
