701 Terrace Dr Lake Oswego, OR 97034

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.