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701 Terrace Dr, Lake Oswego, OR 97034

$2,495,000

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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.

701 Terrace Dr | MLS# 663841569

This single family home located at 701 Terrace Dr, Lake Oswego, OR 97034 is currently listed for sale with an asking price of $2,495,000. This property was built in 1969 and has 4 bedrooms and 4 full and 1 partial baths with 3852 sq. ft. Terrace Dr is located in the Mcvey Southshore subdivision. Search Mcvey Southshore real estate on angeleewray.bendpremierrealestate.com today.

Property Features

Property Type: Residential - Single Family
Basement: Crawl Space, Exterior Entry, Storage Space
Cooling: Central Air
Fenced: Yes
Fireplaces: 2
Fuel Type: Electricity, Gas
Garage: 2 car attached
Heating: Forced Air
Home Style: Traditional
Lot Size: 0.42 Acres
Roof Type: Composition
Stories: 2.0
Taxes: $28,047
Year Built: 1969
Square Feet: 3,852

Feature Descriptions

Accessibility: Accessible Full Bath, Garage on Main, Main Floor Bedroom w-Bath, Utility Room On Main, Walk-in Shower
Bathroom: 1.1 (Main), 3.0 (Upper)
Body of Water: Oswego Lake
Days on Site: 190
Exterior: Brick, Cedar
Exterior: Boat House, Covered Patio, Deck, Dock, Fenced, Garden, Gas Hookup, Outbuilding, Sprinkler, Storm Door(s), Yard
Fireplace: Gas
HOA Fee: Fee 1 - $2985.00 (Annually), Fee 2 - $7500.00 (OneTime)
Hot Water: Electricity, Gas
Interior: Air Cleaner, Ceiling Fan(s), Garage Door Opener, Hardwood Floors
Kitchen: Built-in Oven, Convection Oven, Dishwasher, Disposal, Down Draft, Free-Standing Refrigerator, Gas Appliances, Granite, Instant Hot Water, Microwave, Plumbed For Ice Maker, Stainless Steel Appliance(s), Water Purifier
Lot: Private, Sloped
Parking Notes: Attached, Driveway
Sewer: Public Sewer
Special View Info: Lake
Square Footage: 2054 (Main), 1798 (Upper)
Water: Public Water
Waterfront: Lake

Room Sizes

Den: 16 X 11 Level - Upper
4th Bedroom: 14 X 11 Level - Main
2nd Bedroom: 16 X 10 Level - Upper
3rd Bedroom: 15 X 10 Level - Upper
Dining Room: 16 X 10 Level - Main
Family Room: 22 X 16 Level - Main
Kitchen: 24 X 13 Level - Main
Living Room: 24 X 15 Level - Main
Primary Bedroom: 21 X 18 Level - Upper

Local Schools

High School: Lakeridge
Middle School: Lakeridge
Elementary School: Hallinan

Listed By / Shown By

Listed By

Agency Name: Harnish Company Realtors
Agency Contact: harnish@harnishproperties.com

Shown By

Agent Name: Angelee Wray, Principal Broker
Agent Phone: (541) 325-2950
Agency Title: Bend Premier Real Estate

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Estimated Payment

$ 15,681.04 per month $12,616.08 Principal & Interest $2,337.25 Property Tax $727.71 Homeowner's Insurance

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