Thomas Hrabal

701 Terrace Dr

Lake Oswego, OR
$ 2,495,000 Beds 4 Baths 4.5 Sq 3,852
Monthly Estimate* How much can I afford?

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.

Active

  • Price
  • $ 2,495,000
  • City
  • Lake Oswego
  • Bedrooms
  • 4
  • Full Bathrooms
  • 4
  • County
  • CLACKAMAS
  • Half Bathrooms
  • 1
  • Area
  • 147
  • Lot Size
  • 0.42 Acres
  • Zip
  • 97034
  • Sqr Footage
  • 3,852
  • Year Built
  • 1969
  • Taxes
  • $ 28046
  • Style
  • Traditional
  • MLS#
  • 663841569
Listed By: Harnish Company Realtors - harnish@harnishproperties.com
Data Source: Regional Multiple Listing Service (RMLSOR)

Features

General

Sewer PublicSewer
Heating ForcedAir
Cooling CentralAir
Roof Composition
Appliances BuiltinOven,ConvectionOven,Dishwasher,Disposal,DownDraft,FreeStandingRefrigerator,GasAppliances,Granite,InstantHotWater,Microwave,PlumbedForIceMaker,StainlessSteelAppliance,WaterPurifier
HOA Fee 2985.0
Garage Spaces 2.0
Architectural Style Traditional
Security Features SecuritySystemOwned
Year Built 1969
Stories Count 2
Property Subtype SingleFamilyResidence
Tax Year 2025
Parcel Number 00250542
Waterfront Features Lake
Accessibility AccessibleFullBath,GarageonMain,MainFloorBedroomBath,UtilityRoomOnMain,WalkinShower
HOA Fee 2 7500.0
Assoc Fee Paid Per Annually
County Clackamas
Property Type Residential
Association Amenities BoatSlip,Management
HOA Yes
Subdivision Name Mcvey Southshore
Full Baths 4
Status Active
Directions Southshore to Palisades Terrace to Terrace
High School Lakeridge
City LakeOswego
Body of Water Oswego Lake
Disclosures Disclosure
MLS Area _147
Lot Size Square Feet 18295.0
Listing Terms Cash,Conventional
HOA Fee 2 Frequency OneTime
Elementary School Hallinan
Tax Annual Amount 28046.7
Middle/Junior High School Lakeridge
Property Condition Resale
Standard Status Active
Accessory Dwelling Unit Y/N No
ViewDescription Lake
Legal Description SECTION 09 TOWNSHIP 2S RANGE 1E QUARTER DA TAX LOT 00300
AttributionContact harnish@harnishproperties.com
SeniorCommunityYn False
ADU False

Interior Features

Interior Amenities AirCleaner,CeilingFan,GarageDoorOpener,HardwoodFloors
Basement CrawlSpace,ExteriorEntry,StorageSpace
Total Fireplaces 2
Fireplace Features Gas
Hot Water Electricity,Gas
Window Features DoublePaneWindows,StormWindow
Total Bathrooms 4.1
FuelDescription Electricity,Gas
Total Bedrooms 4
Total Baths 5
1/2 Baths 1

Exterior Features

Exterior Amenities BoatHouse,CoveredPatio,Deck,Dock,Fenced,Garden,GasHookup,Outbuilding,Sprinkler,StormDoor,Yard
Parking Features Driveway
Lot Features Private,Sloped
Water Source PublicWater
Total Parking 2.0
Garage Type Attached
Exterior Description Brick,Cedar
Foundation Details ConcretePerimeter
Building Area Total 3852.0
Lot Size Acres 0.42
Road Surface Type Paved

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$3,786

Per Month

Based on the average sale price from the Hillsboro, OR office

  • Monthly Principal & interest $2,658
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
Adjust Payment Options
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Let's determine your purchasing power. Working with my mortgage partner, you'll have the information you need to shop for a home with confidence.

Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

Schools

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

Price History

4/24/2026 Listed $2,895,000
6/10/2026 7% - $2,695,000
7/28/2026 8% - $2,495,000

Property vs Zip Code Average in 97034

Price
AVG $2.05M
$2.5M
Taxes
AVG $17,842
$28,046
Year Built
AVG 1984
1969
Visits
AVG 153
180
Data Provided by Inside Real Estate®

Areas That We Cover

701 Terrace Dr Lake Oswego, OR is a Single Family Home for sale at $2495000 with 3852 sqft and a lot size of 0.42 Acres Acre(s). 701 Terrace Dr Lake Oswego has 4 bedrooms, 4 baths and was built in 1969. The property's zip code is 97034 which is in Lake Oswego, OR

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Mortgage calculator provided courtesy of Inside Real Estate.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Thomas Hrabal

Thomas Hrabal

Real Estate Broker

971-400-3829

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