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4 Beds
5 Baths
3,852 sqft

$2,495,000

701 TERRACE DR, Lake Oswego OR, 97034

Price per sqft$647.72
Built in1969
Property size3,852 sqft
Property typeResidential
Listing Courtesy of Harnish Company Realtors, Justin Harnish. [email protected]

Overview

Active

Listed Apr 23, 2026

Updated Jul 29

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.

$16,599/mo

Est. mortgage payment based on a $2,495,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
663841569

Interior Features

Bedrooms
4
Bathrooms
5
Fireplace
Yes
Cooling
Yes
Heating
Yes
Basement
No

Exterior Features

Lot Size
0.42 Acres

Other Property Details

Taxes
$28,047
Tax Frequency
Annually
Association Fee Frequency
Yearly
Secondary Association Fee
$7,500
Garage
Yes
View
Yes
Waterfront
Yes
55+/Senior Community
No
MLS provider logo

Listing Courtesy of Harnish Company Realtors, Justin Harnish. [email protected]

The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland, Oregon. Real estate listings held by brokerage firms other than Independent Broker Collective are marked with the RMLS logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2026 RMLS, Portland, Oregon. All information provided is deemed reliable but is not guaranteed and should be independently verified.

This content last updated on 7/29/2026, 2:53 AM UTC. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available

Listing content is copyright © 2026 RMLS™, Portland, Oregon. All rights reserved.

 

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