USAORLake OswegoMcvey Southshore701 Terrace Dr
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$2,895,000

For Sale

3 days ago

701 Terrace Dr, Lake Oswego, OR

House

MLS® 663841569

4 Bed

5 Bath

3852 sqft

2 Parking

  • Key Facts
  • Description
  • Rooms
  • Map

Key Facts

Type Single Family Residence
Levels Residential
Size 3852 sqft
Garage Yes
Taxes $28,047
Days Active 2
Lot Size 
Approx. Age 1969
Avg. Price Per Sqft $751
MLS® Number 663841569

Property Address: 701 Terrace Dr, Lake Oswego, OR, 97034-4631

Average square foot calculated using Size range provided by listing agent.

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.
MLS® Number663841569
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
GarageYes
Approx. Age1969
BasementCrawl Space, Exterior Entry, Storage Space
DrivewayDriveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Rooms

Change to metres

Den:Upper Level11 × 16 ft
Bedroom 4:Main Floor11 × 14 ft
Family Room:Main Floor16 × 22 ft
Kitchen:Main Floor13 × 24 ft
Living Room:Main Floor15 × 24 ft
Great Room:Not available
Laundry:Main FloorNot available
Bedroom 3:Upper Level10 × 15 ft
Bedroom 1:Upper Level18 × 21 ft
Bedroom 2:Upper Level10 × 16 ft
Dining Room:Main Floor10 × 16 ft

Price History

-End Date
Not Sold YetSold Price

For Sale

Apr 24, 2026List Date
$2,895,000List Price
  • Commute

Commute

Starting Address
Destination Address
701 Terrace Dr, Lake Oswego, OR

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