Rarely does an Oswego Lake property offer 0.40 acres of flat main canal frontage, exceptional privacy, mature gardens, and the flexibility to enjoy today while thoughtfully shaping its future. Tucked behind lush landscaping in one of Lake Oswego's most desirable waterfront settings, this remarkable property offers an increasingly rare combination of land, lifestyle, and long-term potential. The 0.40-acre homesite is the true centerpiece. Flat waterfront lots of this size on Oswego Lake's main canal are becoming exceptionally difficult to find, creating an estate-like setting with expansive lawns, mature trees, colorful gardens, and seamless indoor-outdoor living. Launch your boat from the private dock with covered boat lift, paddleboard or kayak from your backyard, entertain along the water, or simply enjoy peaceful mornings overlooking the canal. Grandfathered lake water rights for irrigation help preserve the mature landscape that has taken decades to create. Thoughtfully maintained, the home is comfortable to enjoy from day one, offering four bedrooms, hardwood floors, an updated kitchen, two gas fireplaces, inviting living spaces, and beautiful garden and water views. A detached oversized two-car garage includes a finished, heated and cooled bonus room, ideal for a private office, gym or creative workspace. Professionally prepared conceptual architectural plans are available for buyers who wish to reimagine the home over time, illustrating one possible renovation while respecting the property's existing character and extraordinary setting. Whether you're searching for a move-in-ready waterfront home, an exceptional homesite for a future luxury renovation, or a legacy property to enjoy for generations, this rare main canal offering presents an opportunity that is becoming increasingly difficult to find on Oswego Lake.