701 TERRACE DR, Lake Oswego, OR 97034

Listing Courtesy of Harnish Company Realtors.

$2,495,000
4
BD
4
BA
3,852
SqFt

Show Photos

Verify your account to unlock exclusive photos, mortgage tools, and more.

List Price
$2,495,000
Status
ACTIVE
Days on Market
142
Price Change
▼ $200,000 1785283427
MLS#
663841569
Subtype
Single Family Residence
Style
Traditional
Year Built
1969
Bedrooms
4
Bathrooms
4
Full Baths
4
Living Area
3,852
Lot Size
18,295
Acres
0.42
Subdivision
Mcvey Southshore
Neighborhood
Mcvey Southshore
MLS Area Major
Lake Oswego, West Linn

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.

Additional Information

Amenities
Boat Slip, Management
Interior Features
Air Cleaner, Ceiling Fan(s), Garage Door Opener, Hardwood Floors
Exterior Features
Boat House, Covered Patio, Deck, Dock, Fenced, Garden, Gas Hookup, Outbuilding, Sprinkler, Storm Door(s), Yard
HOA Fee
$2,985
Property Description
Traditional
Exterior Features
Boat House, Covered Patio, Deck, Dock, Fenced, Garden, Gas Hookup, Outbuilding, Sprinkler, Storm Door(s), Yard
Stories
2
Parking
Driveway
Parking Features
Driveway
Garage Spaces
2
Elementary School
Hallinan
Middle School
Lakeridge
High School
Lakeridge
View
Lake

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

The content relating to real estate for sale on this site comes in part from the IDX program of the RMLS of Portland, Oregon. Real Estate listings held by brokerage firms other than this firm are marked with the RMLS logo, and detailed information about these properties include the name of the listing's broker. Listing content is copyright © 2026 RMLS of Portland, Oregon. All information provided is deemed reliable but is not guaranteed and should be independently verified. This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.