FIRST ADDITION Real Estate

FIRST ADDITION Real Estate

Welcome to First Addition, a charming and vibrant subdivision nestled in the heart of Lake Oswego, Oregon. Renowned for its picturesque tree-lined streets and friendly community atmosphere, First Addition offers a unique blend of suburban tranquility and urban convenience.

As you stroll through this delightful neighborhood, you’ll discover a variety of beautifully maintained homes, ranging from classic mid-century designs to modern architectural gems. Each residence exudes character, reflecting the diverse tastes of its residents. With spacious yards and inviting front porches, First Addition is perfect for those who appreciate outdoor living and community engagement.

One of the standout features of First Addition is its prime location. Residents enjoy easy access to Lake Oswego's charming downtown area, which boasts an array of boutique shops, delightful cafes, and gourmet restaurants. The nearby Lake Oswego Lake provides ample opportunities for outdoor recreation, including boating, fishing, and picnicking along its scenic shores. Additionally, First Addition is just a short drive from the bustling city of Portland, making it an ideal spot for commuters seeking a peaceful retreat at the end of the day.

Families will also appreciate the highly-rated schools within the Lake Oswego School District, ensuring that children receive a top-notch education in a supportive environment.

Whether you’re looking to buy your first home, seeking a serene place to retire, or simply want to enjoy the vibrant community spirit, First Addition in Lake Oswego is a hidden gem waiting to be discovered. Come and experience the warmth and charm of this delightful neighborhood today!

Newest Listings in FIRST ADDITION

205 E AVE, Lake Oswego
$2,599,900
157383393 MLS
4-Plex ALTERNATIVE! Own the 4 remaining homes in the project! DETACHED/fee simple single-family homes! Three of the homes are 3 Bed/2.1 Bath with about 1,500SF and One 2 Bed/2.1 Bath with about 1,200SF. One of the 3 bedrooms is currently rented at $5,000/mo. First Addition has never seen anything like this before! Stunning NW Modern design! Light and bright with lots of windows, open floor layout, SS appliances, quartz counters, upscale finishes, and designer colors. Builder warranty included! Don't miss this ultra rare opportunity to bolster your investment portfolio! SUPER LOW TAXES; About $5,500 per home annually!

205 E AVE, Lake Oswego
651 5TH ST, Lake Oswego
$1,350,000
5 Beds ⋅ 2 Baths ⋅ 159415059 MLS
Unique investment opportunity in the prestigious heart of Lake Oswego's First Addition! This is a duplex. Surrounded by luxury single-family residences, this well maintained 3,003 sq ft duplex generates $5,500/month gross revenue alongside unmatched long-term appreciation in one of Oregon's most coveted zip codes.Unit 1 (3 Bed | 1.1 Bath 1777 sqft) rents $3,100/month. Highlights include a spacious floor plan, cozy wood-burning fireplace, updated countertops, full dishwasher, in-unit washer/dryer, an attached garage, and private fenced yard. Unit 2 (2 Bed | 1 Bath | 1,226 Sq Ft) rents $2,400/month. Features a bright, well-scaled layout, wood-burning fireplace, updated countertops, dishwasher, dedicated in-unit washer/dryer, covered carport parking, and a private fenced yard. An unbeatable lifestyle location: minutes to boutique shopping, artisan dining, fitness studios, neighborhood parks, grocery and Oswego Lake. Perfect for the savvy owner occupant looking to live in one unit while subsidizing their mortgage, or the portfolio investor securing a low-vacancy asset in an irreplaceable location. Both units fully leased with a history of low turnover and established income. R-6 zoning includes single-family homes, duplexes, triplexes, townhomes, and cottage clusters *subject to specific lot-coverage, Floor Area Ratio (FAR), and design guidelines *buyer to do due diligence. Interior photos and floorplan are just of unit 653. PLEASE DO NOT DISTURB TENANTS

651 5TH ST, Lake Oswego
651 5TH ST, Lake Oswego
$1,350,000
798915183 MLS
Unique investment opportunity in the prestigious heart of Lake Oswego's First Addition! Surrounded by luxury single-family residences, this well maintained 3,003 sq ft duplex generates $5,500/month gross revenue alongside unmatched long-term appreciation in one of Oregon's most coveted zip codes.Unit 1 (3 Bed | 1.1 Bath 1777 sqft) rents $3,100/month. Highlights include a spacious floor plan, cozy wood-burning fireplace, updated countertops, full dishwasher, in-unit washer/dryer, an attached garage, and private fenced yard. Unit 2 (2 Bed | 1 Bath | 1,226 Sq Ft) rents $2,400/month. Features a bright, well-scaled layout, wood-burning fireplace, updated countertops, dishwasher, dedicated in-unit washer/dryer, covered carport parking, and a private fenced yard. An unbeatable lifestyle location: minutes to boutique shopping, artisan dining, fitness studios, neighborhood parks, grocery and Oswego Lake. Perfect for the savvy owner occupant looking to live in one unit while subsidizing their mortgage, or the portfolio investor securing a low-vacancy asset in an irreplaceable location. Both units fully leased with a history of low turnover and established income. R-6 zoning includes single-family homes, duplexes, triplexes, townhomes, and cottage clusters *subject to specific lot-coverage, Floor Area Ratio (FAR), and design guidelines *buyer to do due diligence. Interior photos and floorplan are just of unit 653. PLEASE DO NOT DISTURB TENANTS

651 5TH ST, Lake Oswego
21 D AVE Unit #10, Lake Oswego
$1,850,000
2 Beds ⋅ 2 Baths ⋅ 460238633 MLS
The one and only capsule collection of its kind for years to come, Frances luxury residences set a new standard for downtown Lake Oswego cosmopolitan living with unrivaled club amenities and ready access to Oregon’s exceptional quality of life. Residents enjoy concierge services, a grand piano arrival hall, garden courtyard, tasting lounge with wine vaults, fitness studio & sauna, library, club room, dog wash facilities, and a guest studio all with the ease of a true lock-&-leave lifestyle. Located a mere 3 blocks from Lake Oswego’s celebrated dining, boutiques, farmer’s market, and lakefront paths, this location features a high walk score. Inspired by the art of fine living, #10 is all luminous grace with desirable southern exposure, 10’ ceilings, book-matched marble slab finishes, and naturally-toned European oak plank/herringbone floors to its soaring wood-framed windows and doors, Restoration hardware and high design lighting, and smart features. Designed for both hospitality and retreat, the home features a showcase ‘Michelin Star’ entertainer’s kitchen plus full caterer’s prep kitchen. The magnificent great room is highlighted by a gas fireplace library wall and vast 9’ glass doors gazing out over treetop views. Guests and owners rejuvenate in style with two en-suite bedrooms, including an expansive and privately situated primary suite featuring European wet room marble bath, pedestal tub, dual walk-in closets, and nearby dedicated office space. Step outdoors onto the home’s private view terraces and delight in miles of top-rated Tryon Creek Park wooded trails 2 minutes away with championship golf, Mt Hood high-alpine skiing, the breathtaking Oregon Coast and picturesque wine country all close at hand. Immaculately planned and expertly crafted, Frances marries an intimate community lifestyle within Lake Oswego's sought after First Addition neighborhood and all the wonder of the Pacific Northwest’s elemental beauty. Additional residences available on request.

21 D AVE Unit #10, Lake Oswego
21 D AVE Unit #13, Lake Oswego
$2,295,000
2 Beds ⋅ 2 Baths ⋅ 440995494 MLS
The one and only capsule collection of its kind for years to come, Frances luxury residences set a new standard for downtown Lake Oswego cosmopolitan living with unrivaled club amenities and ready access to Oregon’s exceptional quality of life. Residents enjoy concierge services, a grand piano arrival hall, garden courtyard, tasting lounge with wine vaults, fitness studio & sauna, library, club room, dog wash facilities, guest studio, and a true lock-&-leave lifestyle. Located a mere 3 blocks from Lake Oswego’s celebrated dining, boutiques, farmer’s market, and lakefront paths, this location features a high walk score. Inspired by the art of fine living, #13 lives like a penthouse with its elevated positioning, 10’ ceilings, book-matched marble slab finishes, European oak plank/herringbone floors, soaring wood-framed windows, Restoration hardware and high design lighting, and wall of showcase glass doors. Designed for both hospitality and retreat, the home features a flawless ‘Michelin Star’ entertainer’s kitchen plus full caterer’s prep kitchen. The magnificent great room is highlighted by a statement floating fireplace wall and vast 9’ glass doors gazing out over the private terrace with romantic bridge and Willamette River views just beyond. Guests and owners rejuvenate in style with two en-suite bedrooms, including a spectacular primary suite featuring European wet room marble bath graced with a pedestal tub and dual walk-in closets as well as a full guest suite with luminous attached study. Step outdoors to miles of top-rated Tryon Creek Park wooded trails 2 minutes away with championship golf, Mt Hood high-alpine skiing, the breathtaking Oregon Coast and picturesque wine country all close at hand. Immaculately planned and expertly crafted, Frances marries an intimate community lifestyle within Lake Oswego's sought after First Addition neighborhood and all the wonder of the Pacific Northwest’s elemental beauty. Additional residences available on request.

21 D AVE Unit #13, Lake Oswego
21 D AVE Unit #5, Lake Oswego
$1,490,000
2 Beds ⋅ 2 Baths ⋅ 307578080 MLS
The one and only capsule collection of its kind for years to come, Frances luxury residences set a new standard for downtown Lake Oswego cosmopolitan living with unrivaled club amenities and ready access to Oregon’s exceptional quality of life. Residents enjoy concierge services, a grand piano arrival hall, garden courtyard, tasting lounge with wine vaults, fitness studio & sauna, library, club room, dog wash facilities, and a guest studio all with the ease of a true lock-&-leave lifestyle. Located a mere 3 blocks from Lake Oswego’s celebrated dining, boutiques, farmer’s market, and lakefront paths, this location features a very high walk score. Inspired by the art of fine living, #5 is a light-filled pied-a-terre offering wonderful southern exposure, 10’ ceilings, book-matched marble slab finishes, European oak plank/herringbone floors, soaring wood-framed windows and doors, Restoration hardware and high design lighting, and smart features. Designed for a day on the town and as a glamorous private retreat, the home features a showcase ‘Michelin Star’ entertainer’s kitchen plus full caterer’s prep kitchen. The handsome great room is highlighted by a gas fireplace library wall and vast 9’ glass doors gazing out over the garden courtyard views. Guests and owners rejuvenate in style with two en-suite bedrooms, including a spectacular primary suite featuring European wet room marble bath graced with a pedestal tub and walk-in closet. Step outdoors onto the home’s private terrace and delight in miles of top-rated Tryon Creek Park wooded trails 2 minutes away with championship golf, Mt Hood high-alpine skiing, the breathtaking Oregon Coast and picturesque wine country all close at hand. Immaculately planned and expertly crafted, Frances marries an intimate community lifestyle within Lake Oswego's sought after First Addition neighborhood and all the wonder of the Pacific Northwest’s elemental beauty. Additional residences available on request.

21 D AVE Unit #5, Lake Oswego
21 D AVE Unit #4, Lake Oswego
$1,999,000
2 Beds ⋅ 2 Baths ⋅ 276134825 MLS
The one and only capsule collection of its kind for years to come, Frances luxury residences set a new standard for downtown Lake Oswego cosmopolitan living with unrivaled club amenities and ready access to Oregon’s exceptional quality of life. Residents enjoy concierge services, a grand piano arrival hall, garden courtyard, tasting lounge with wine vaults, fitness studio & sauna, library, club room, dog wash facilities, guest studio, and a true lock-&-leave lifestyle. Located a mere 3 blocks from Lake Oswego’s celebrated dining, boutiques, farmer’s market, and lakefront paths, this location features a high walk score. Inspired by the art of fine living, #4 is a corner residence exuding a Gatsby-era glamour with southern exposure, 10’ ceilings, book-matched marble slab finishes, European oak plank/herringbone floors, a glass wrapped studio/office, soaring wood-framed windows, Restoration hardware and high design lighting, and smart features. Designed for both hospitality and retreat, the home features a showcase ‘Michelin Star’ entertainer’s kitchen plus full caterer’s prep kitchen. The magnificent great room is highlighted by a statement floating fireplace wall and vast 9’ glass doors gazing out over the treed views with the Willamette River just beyond. Guests and owners rejuvenate in style with two en-suite bedrooms, including a spectacular primary suite featuring European wet room marble bath graced with a pedestal tub and dual walk-in closets. Step outdoors onto the home’s two private view terraces and delight in miles of top-rated Tryon Creek Park wooded trails 2 minutes away with championship golf, Mt Hood high-alpine skiing, the breathtaking Oregon Coast and picturesque wine country all close at hand. Immaculately planned and expertly crafted, Frances marries an intimate community lifestyle within Lake Oswego's sought after First Addition neighborhood and all the wonder of the Pacific Northwest’s elemental beauty. Additional residences available on request.

21 D AVE Unit #4, Lake Oswego
805 3rd ST, Lake Oswego
$659,900
3 Beds ⋅ 2 Baths ⋅ 491029681 MLS
*** Now 50% sold out! 4 out of 8 homes are pending! *** Don't miss your chance! Designed for true lock-and-go living, Koval Cottages offers something Lake Oswego has never seen before: new-construction, detached fee simple homes in First Addition at an attainable entry price point. Perfect for downsizers, first-time buyers, small families, seasonal residents, or anyone seeking low maintenance luxury in the city’s most charming neighborhood. Each home showcases exceptional finish work, modern contemporary design, and a refined attention to detail throughout. A rare and extraordinary opportunity to own a standalone home in the heart of First Addition. Enjoy effortless access to downtown Lake Oswego’s restaurants, boutique shopping, cafes, and one of the region’s best Saturday Markets! For investment purposes....ACTUAL RENT ON ANOTHER HOME IN THE PROJECT IS $5,000/MO.

805 3rd ST, Lake Oswego
205 E AVE, Lake Oswego
$699,900
3 Beds ⋅ 2 Baths ⋅ 495387816 MLS
** Now 50% sold out! 4 out of 8 homes are pending! ** Don't miss your chance! Designed for true lock-and-go living, Koval Cottages offers something Lake Oswego has never seen before: new-construction, detached fee simple homes in First Addition at an attainable entry price point. Perfect for downsizers, first-time buyers, small families, seasonal residents, or anyone seeking low maintenance luxury in the city’s most charming neighborhood. Each home showcases exceptional finish work, modern contemporary design, and a refined attention to detail throughout. A rare and extraordinary opportunity to own a standalone home in the heart of First Addition. Enjoy effortless access to downtown Lake Oswego’s restaurants, boutique shopping, cafes, and one of the region’s best Saturday Markets! For investment purposes. Taxes have been assessed and are only $5,800 per year!

205 E AVE, Lake Oswego
815 E AVE, Lake Oswego
$2,295,000
4 Beds ⋅ 3 Baths ⋅ 364229279 MLS
Step into a storybook sanctuary in Lake Oswego's First Addition, where timeless elegance and charm effortlessly blend in this welcoming Tudor-style home. Featuring a main floor primary suite with a private sunroom and patio, a recently completed ADU, and an expansive indoor/outdoor layout, perfect for year-round entertaining, this home offers the ultimate privacy surrounded by a lush Arborvitae border. Hand-scraped hardwood floors, a gourmet kitchen, and enchantingly timeless details like arched doorways and a ceiling-height stone fireplace create a warm, inviting atmosphere. The ADU is a flexible option for an ideal home office, exercise studio, guest suite, or multi-generational living. Just minutes from Lake Oswego's best restaurants, shopping, community events, and Farmer's Market, this home is a rare opportunity at a sanctuary in the heart of the community.

815 E AVE, Lake Oswego
815 3rd ST, Lake Oswego
$699,900
3 Beds ⋅ 2 Baths ⋅ 740627741 MLS
** Now 50% sold out! 4 out of 8 homes are pending! ** Don't miss your chance! CORNER LOT with the ability to fence both street facing sides! Designed for true lock-and-go living, Koval Cottages offers something Lake Oswego has never seen before: new-construction, detached fee simple homes in First Addition at an attainable entry price point. Perfect for downsizers, first-time buyers, small families, seasonal residents, or anyone seeking low maintenance luxury in the city’s most charming neighborhood. Each home showcases exceptional finish work, modern contemporary design, and a refined attention to detail throughout. A rare and extraordinary opportunity to own a standalone home in the heart of First Addition. Enjoy effortless access to downtown Lake Oswego’s restaurants, boutique shopping, cafes, and one of the region’s best Saturday Markets! For investment purposes. Taxes have been assessed and are only $5,800 per year!

815 3rd ST, Lake Oswego
311 E AVE Unit #7, Lake Oswego
$649,900
2 Beds ⋅ 2 Baths ⋅ 776248346 MLS
Open Sat 1:00-3:00 and Sun 11:00-1:00. Introducing The Oswego Cottages in Lake Oswego’s sought-after Historic First Addition neighborhood ideally located just blocks from downtown Lake Oswego, Tryon Creek State Natural Area, local restaurants, grocery stores, the theater, library, coffee shops, and more. Beautifully designed featuring stylish kitchen with quartz countertops, stainless steel appliances, and a spacious island perfect for gatherings. Step outside to a private covered patio, ideal for year-round outdoor living and entertaining. Pictures are of similar unit.

311 E AVE Unit #7, Lake Oswego
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The content relating to real estate for sale on this site comes in part from the IDX program of the RMLS of Portland, Oregon. Real Estate listings held by brokerage firms other than this firm are marked with the RMLS logo, and detailed information about these properties include the name of the listing's broker. Listing content is copyright © 2026 RMLS of Portland, Oregon. All information provided is deemed reliable but is not guaranteed and should be independently verified. This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.

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