Date
Details
Price
Change
Source
4/23/2026
Listed
$2,895,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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$2,895,000 Just Listed
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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.
Full Property Details
Full Property Details for 701 Terrace Dr
General
- Price: $2,895,000
- HOA FEE: $249/month
- HOA FEE FREQ.: Annually
- Taxes: $28,046 (2025)
- Status: Active
- Type: Single Family
- Source: RWMLS
- MLS ID: 663841569
- Updated: 4/24/2026
- Added to Site: 1 day(s) ago
Interior
- Interior Features: Air Cleaner, Ceiling Fan(s), Garage Door Opener, Hardwood Floors
- Fireplace: Yes
- Number of Fireplaces: 2
- Fireplace(s): Gas
- Appliances: 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
Rooms
Bathrooms
- Total Bathrooms: 5
- Full Bathrooms: 4
- Partial Bathrooms: 1
- Upper - Full Baths: 3
- Main - Full Baths: 1
Bedrooms
- Total Bedrooms: 4
- Primary Bedroom: 21 x 18, Upper, 378 Sq. Ft.
- Bedroom 2: 16 x 10, Upper, 160 Sq. Ft.
- Bedroom 3: 15 x 10, Upper, 150 Sq. Ft.
- Bedroom 4: 14 x 11, Main, 154 Sq. Ft.
Other Rooms
- Living Room: 24 x 15, Main, 360 Sq. Ft.
- Family Room: 22 x 16, Main, 352 Sq. Ft.
- Kitchen: 24 x 13, Main, 312 Sq. Ft.
- Dining Room: 16 x 10, Main, 160 Sq. Ft.
- Den: 16 x 11, Upper
- Laundry: Main
Additional Information
- Shared Amenities: Boat Slip, Management
- Security/Safety: Security System Owned
Exterior
- Exterior Features: Boat House, Covered Patio, Deck, Dock, Fenced, Garden, Gas Hookup, Outbuilding, Sprinkler, Storm Door(s), Yard
Parking
- Garage: Yes
- Attached garage: Yes
- Total Spaces: 2
- Parking Features: Driveway
Location
- County: Clackamas
- Subdivision: Mcvey Southshore
- Driving Directions: Southshore to Palisades Terrace to Terrace
School Information
- Elementary School: Hallinan
- Middle School: Lakeridge
- High School: Lakeridge
Community
- Community Name: 147 - Lake Oswego, West Linn
- Association: Yes
Heating & Cooling
- Central air: Yes
- Air Conditioning: Yes
- Cooling Type: Central Air
- Heating Type: Forced Air
- Heating Fuel: Electricity, Gas
Utilities
- Sewer: Public Sewer
- Water: Public Water
Structural Information
- Property Detached: Yes
- Architectural Style: Traditional
- Basement Desc.: Crawl Space, Exterior Entry, Storage Space
- Roof: Composition
- Windows: Double Pane Windows, Storm Window(s)
- Stories/Levels: 2
- Square Feet: 3,852
- Year Built: 1969
- Property Condition: Resale
Lot Features
- Lot Size (Acres): 0.42
- Lot Size (Sq. Ft.): 18,295
- Lot Size: 15, 000 to 19, 999 SqFt
- Frontage: Paved
- Lot Features: Private, Sloped
Water Features
- Water Front: Yes
- Water Front Name: Oswego Lake
- Water Front Desc.: Lake
- Lake Front: Yes
Financial Considerations
- Association Fee: $2,985
- Assoc Fee Freq.: Annually
- Other Assoc Fees: $7,500
- Tax Amount: $28,046.7
- Tax Year: 2025
- Terms: Cash, Conventional
Disclosures and Reports
- Legal Description: SECTION 09 TOWNSHIP 2S RANGE 1E QUARTER DA TAX LOT 00300
- Disclosures/Reports: Disclosure
- Property ID: 250542
Listed by Harnish Company Realtors (503) 699-8483, Justin Harnish (503) 699-8483 and Harnish Company Realtors (503) 699-8483, Errol Bradley (503) 699-8483
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Listing agents
— 701 Terrace Dr —
Justin Harnish
Harnish Company Realtors
503-699-8483
Errol Bradley
Harnish Company Realtors
503-699-8483
harnish@harnishproperties.com
NMLS#: 1598647
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Schools
Schools serving 701 Terrace Dr
School District:Lake Oswego School District 7j
| Name | Grades | Distance |
|---|---|---|
Hallinan Elementary School 16800 Hawthorne Drive, Lake Oswego, OR 97034 | K-5 | 1.1 mi |
Lakeridge Middle School, Lake Oswego, OR 4700 Jean Road, Lake Oswego, OR 97035 | 6-8 | 2.3 mi |
Lakeridge High School 1235 Overlook Drive, Lake Oswego, OR 97034 | 9-12 | 1.1 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 701 Terrace Dr
Tax History
Tax History for 701 Terrace Dr
Year
Property Taxes
Change
Tax Assessment
Change
2025
$28,047
3%
$1,463,655
3%
2024
$27,299
3%
$1,421,025
3%
2023
$26,497
12%
$1,379,636
6%
2021
$23,744
-8%
$1,300,440
-3%
2022
$25,711
8%
$1,339,453
6%
2021
$23,744
5%
$1,262,564
3%
2019
$22,579
5%
$1,225,791
3%
2018
$21,471
4%
$1,190,088
3%
2017
$20,717
10%
$1,155,425
3%
2016
$18,858
4%
$1,121,772
3%
2015
$18,219
1%
$1,089,099
3%
2014
$17,984
2%
$1,057,378
3%
2013
$17,657
—
$1,026,581
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 701 Terrace Dr
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701 Terrace Dr, Lake Oswego, OR 97034 (MLS# 663841569) is a Single Family property with 4 bedrooms, 4 full bathrooms and 1 partial bathroom. 701 Terrace Dr is currently listed for $2,895,000 and was received on April 23, 2026. Want to learn more about 701 Terrace Dr? Do you have questions about finding other Single Family real estate for sale in Northwest Heights? You can browse all Northwest Heights real estate or contact a Coldwell Banker agent to request more information.