FIRST ADDITION Homes under $700,000

Welcome to First Addition, a charming and vibrant subdivision nestled in the heart of Lake Oswego, Oregon. This picturesque community offers a perfect blend of suburban tranquility and urban convenience, making it an ideal place for families, professionals, and retirees alike. Known for its tree-lined streets, friendly neighbors, and a strong sense of community, First Addition is truly a gem in Clackamas County.

One of the standout features of this delightful neighborhood is the availability of homes under $700,000. Here, you’ll find a variety of architectural styles, from cozy bungalows to modern townhomes, all designed to cater to diverse tastes and lifestyles. Whether you’re a first-time homebuyer or looking to downsize, First Addition provides an array of options that fit your budget without compromising on quality or charm.

Residents of First Addition enjoy easy access to a wealth of amenities, including beautiful parks, scenic walking trails, and the serene shores of Lake Oswego. The proximity to local shops, restaurants, and top-rated schools enhances the overall appeal of this community. Plus, with its convenient location, commuting to nearby Portland is a breeze, allowing you to enjoy the best of both worlds.

Explore the inviting homes of First Addition, where you can create lasting memories in a welcoming environment. With homes available under $700,000, now is the perfect time to discover why this neighborhood is one of Lake Oswego’s most sought-after locations. Come experience the charm and warmth of First Addition—you’ll be glad you did!

Newest FIRST ADDITION Homes under $700,000

$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

$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....ACTUAL RENT ON ANOTHER HOME IN THE PROJECT IS $5,000/MO. Low taxes $5,800 per year!

205 E AVE, 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....ACTUAL RENT ON ANOTHER HOME IN THE PROJECT IS $5,000/MO. Low taxes $5,500 per year!

815 3rd ST, Lake Oswego

$649,900

2 Beds ⋅ 2 Baths ⋅ 776248346 MLS

Open Sat 2:00-4:00. 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

$669,900

3 Beds ⋅ 2 Baths ⋅ 712181519 MLS

262 G AVE, Lake Oswego

$599,900

2 Beds ⋅ 2 Baths ⋅ 335778811 MLS

242 G AVE, Lake Oswego

$449,000

2 Beds ⋅ 2 Baths ⋅ 380628087 MLS

Light-filled condominium offering 1,320 square feet of beautifully updated living space with views of Mt. Hood. This spacious 2-bedroom, 2-bath residence features oversized rooms, an open and airy floor plan, and extensive recent updates throughout.The remodeled kitchen features an elegant quartz countertop, and a fresh, contemporary design ideal for both everyday living and entertaining. New engineered hardwood flooring, all-new carpet, fresh interior paint, and updated lighting create a modern, move-in-ready environment.The generous living and dining areas are filled with natural light and perfectly positioned to capture spectacular Mt. Hood views. Large windows enhance the bright and welcoming atmosphere, while the oversized bedrooms provide exceptional comfort and flexibility. The spacious primary suite features ample closet space and an en-suite bath, creating a private retreat.A rare highlight is the expansive 8' x 25' private outdoor deck—an exceptional extension of the living space. Perfect for morning coffee, outdoor dining, entertaining guests, container gardening, or simply relaxing while enjoying the Mt. Hood views and beautiful sunrises.Additional conveniences include an in-unit washer and dryer, storage unit, and a thoughtfully designed floor plan that lives larger than its square footage allowing the next owner to simply move in and enjoy.Ideally located near shopping, dining, parks, and all that Lake Oswego has to offer, this beautifully refreshed home combines comfort, style, and convenience. Rarely do opportunities arise to own a condominium with this combination of size, updates, natural light, generous outdoor living space, and iconic Mt. Hood views, for this price.Move-in ready and meticulously updated, this is easy living at its finest.

750 1ST ST, 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.

FIRST ADDITION Homes under $700,000

Newest FIRST ADDITION Homes under $700,000

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