Built in 2004, this hidden jewel crowns Portland Heights at the top of the West Hills-rarely visible from the street yet unforgettable once discovered. Originally conceived as a NW estate with modern American ease, the home was thoughtfully redesigned with sleek, South American inspired interiors. Today, it presents as even more remarkable thanks to extensive updates by the current owners, who enhanced nearly every corner. The 6-bedroom, 5.1-bath layout spans nearly 7,000 square feet of elevated living. Multiple verandas, secret gardens, and outdoor fireplaces blur the line between indoor and outdoor life. Interiors are alive with texture-lime-washed walls, custom closets by California Closets, curated lighting, leathered wall finishes, and rich wood ceilings. Expansive entertaining spaces flow to a gourmet kitchen, while highlights include a custom wine cellar, soundproof theater with glitter carpet and projector, and a dedicated gym.Every detail has been addressed: new balcony doors and windows in the primary suite, new outdoor lighting, irrigation upgrades, fresh paint throughout, remote-control curtains, and a whole-house generator (2024). Three fireplaces-two gas and one wood-burning-anchor the gathering spaces, while Sonos sound enriches daily life. The 3-car garage, new security system, and a gated entry reinforce ease and privacy.Minutes from downtown yet worlds away, this home offers serenity, scale, and sophistication. For the next owner, the true luxury is inheriting a home that’s been elevated inside and out. [Home Energy Score = 4. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10192482]
Active
Price cut: $435K (4/15)
$3,915,000
1948 SW Terrace Dr, Portland, OR 97201
6beds
6,858sqft
Residential, Single Family Residence
Built in 2004
0.44 Acres Lot
$-- Zestimate®
$571/sqft
$-- HOA
What's special
Three fireplacesOutdoor fireplacesMultiple verandasSecret gardensDedicated gymExpansive entertaining spacesCustom wine cellar
- 288 days |
- 448 |
- 22 |
Zillow last checked:
Listing updated:
Listed by:
Suzann Baricevic Murphy 503-789-1033,
Where, Inc.
Source: RMLS (OR),MLS#: 517376493
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 6
- Full bathrooms: 5
- Partial bathrooms: 1
- Main level bathrooms: 2
Rooms
- Room types: Bedroom 4, Bedroom 5, Bonus Room, Bedroom 2, Bedroom 3, Dining Room, Family Room, Kitchen, Living Room, Primary Bedroom
Primary bedroom
- Features: Balcony, Suite, Walkin Closet, Wallto Wall Carpet
- Level: Upper
- Area: 272
- Dimensions: 17 x 16
Bedroom 2
- Features: Wallto Wall Carpet
- Level: Upper
- Area: 168
- Dimensions: 12 x 14
Bedroom 3
- Features: Wallto Wall Carpet
- Level: Upper
- Area: 168
- Dimensions: 12 x 14
Bedroom 4
- Features: Wallto Wall Carpet
- Level: Upper
- Area: 156
- Dimensions: 12 x 13
Bedroom 5
- Features: Suite, Wallto Wall Carpet
- Level: Main
- Area: 156
- Dimensions: 12 x 13
Dining room
- Features: Exterior Entry, Formal, Patio, Wood Floors
- Level: Main
- Area: 192
- Dimensions: 12 x 16
Family room
- Features: Builtin Features, Fireplace, Wood Floors
- Level: Main
- Area: 247
- Dimensions: 13 x 19
Kitchen
- Features: Eating Area, French Doors, Island, Patio, Butlers Pantry, Marble
- Level: Main
- Area: 238
- Width: 17
Living room
- Features: Fireplace, Formal, French Doors, Patio, Wood Floors
- Level: Main
- Area: 285
- Dimensions: 19 x 15
Heating
- Forced Air, Fireplace(s)
Cooling
- Central Air
Appliances
- Included: Built-In Range, Built-In Refrigerator, Dishwasher, Disposal, Microwave, Range Hood, Stainless Steel Appliance(s), Wine Cooler
- Laundry: Laundry Room
Features
- Central Vacuum, Elevator, High Ceilings, Marble, Soaking Tub, Sound System, Wainscoting, Suite, Balcony, Formal, Built-in Features, Eat-in Kitchen, Kitchen Island, Butlers Pantry, Walk-In Closet(s), Pot Filler
- Flooring: Hardwood, Wall to Wall Carpet, Wood
- Doors: French Doors
- Basement: Finished
- Number of fireplaces: 3
- Fireplace features: Gas, Wood Burning, Outside
Interior area
- Total structure area: 6,858
- Total interior livable area: 6,858 sqft
Property
Parking
- Total spaces: 3
- Parking features: Off Street, Garage Door Opener, Detached
- Garage spaces: 3
Features
- Stories: 3
- Patio & porch: Patio, Porch
- Exterior features: Garden, Yard, Balcony, Exterior Entry
Lot
- Size: 0.44 Acres
- Dimensions: 19,359 SF
- Features: Gated, Level, Private, Sprinkler, SqFt 15000 to 19999
Details
- Additional structures: GuestQuarters
- Parcel number: R174574
- Zoning: R5
- Other equipment: Intercom
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Custom Style
- Property subtype: Residential, Single Family Residence
Materials
- Cedar, Stucco
- Roof: Shake
Condition
- Resale
- New construction: No
- Year built: 2004
Utilities & green energy
- Gas: Gas
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Security: Security Gate
- Subdivision: Portland Heights, West Hills
HOA
- Has HOA: No
Location
- Region: Portland
Financial & listing details
- Price per square foot: $571/sqft
- Tax assessed value: $2,986,180
- Annual tax amount: $51,829
- Date on market: 9/11/2025
- Listing terms: Cash,Conventional
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 4/15/2026 | Price change | $3,915,000-10%$571/sqft |
Source:  RMLS (OR) #517376493 Report a problem | ||
| 9/11/2025 | Listed for sale | $4,350,000+10.8%$634/sqft |
Source: RMLS (OR) #517376493 Report a problem | ||
| 5/23/2025 | Listing removed | $11,980$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 5/17/2025 | Listed for rent | $11,980$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 5/12/2022 | Sold | $3,925,000$572/sqft |
Source: RMLS (OR) #22289293 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $53,786 +3.8% | $2,183,960 +3% |
| 2024 | $51,830 -2.6% | $2,120,350 +3% |
| 2023 | $53,188 +13.6% | $2,058,590 +11.4% |
| 2022 | $46,838 -0.7% | $1,848,270 +3% |
| 2021 | $47,168 +20.2% | $1,794,440 +3% |
| 2020 | $39,244 +3% | $1,742,180 +3% |
| 2019 | $38,116 | $1,691,440 +3% |
| 2018 | $38,116 -5% | $1,642,180 +3% |
| 2017 | $40,140 +18.2% | $1,594,350 +3% |
| 2016 | $33,950 | $1,547,920 +3% |
| 2015 | $33,950 +5.1% | $1,502,840 +3% |
| 2014 | $32,293 +0.7% | $1,459,070 +3% |
| 2013 | $32,071 +27.5% | $1,416,580 +3% |
| 2012 | $25,161 -5.8% | $1,375,330 +3% |
| 2011 | $26,696 -4.4% | $1,335,280 +3% |
| 2010 | $27,910 +1.8% | $1,296,390 +3% |
| 2009 | $27,422 +5.9% | $1,258,640 +3% |
| 2008 | $25,887 +0.2% | $1,221,990 +3% |
| 2007 | $25,831 +11.4% | $1,186,400 +3% |
| 2006 | $23,195 +4.7% | $1,151,850 +3% |
| 2005 | $22,143 -8.4% | $1,118,310 +3% |
| 2004 | $24,167 +785.8% | $1,085,740 +636% |
| 2003 | $2,728 -8.2% | $147,520 +3% |
| 2002 | $2,971 +8% | $143,230 +6.1% |
| 2000 | $2,752 | $135,010 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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Climate risks
Neighborhood: Southwest Hills
Nearby schools
GreatSchools rating
- 9/10Ainsworth Elementary SchoolGrades: K-5Distance: 0.1 mi
- 6/10West Sylvan Middle SchoolGrades: 6-8Distance: 3 mi
- 8/10Lincoln High SchoolGrades: 9-12Distance: 0.9 mi
Schools provided by the listing agent
- Elementary: Ainsworth
- Middle: West Sylvan
- High: Lincoln
Source: RMLS (OR). This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
- Oregon
- Multnomah County
- Portland
- 97201
- Southwest Hills
- 1948 SW Terrace Dr
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