Development Opportunity in Prime Milwaukie Location! Beautifully renovated 2,800 SF one-level ranch on a rare 0.51-acre R7-zoned lot in desirable Oak Grove, offering exceptional livability today and exciting future development potential. This spacious home features 5 bedrooms, 3 bathrooms, including 2 primary suites, a large open kitchen and dining area, two family rooms, and plumbing in place for a future kitchenette and bar-ideal for multigenerational living or entertaining.Extensively updated with nearly every major system replaced, including a new roof, energy-efficient windows, siding, fireplace and chimney, fresh interior and exterior paint, new plumbing, new 80-gallon water heater (plumbed for future gas hookup), new gas furnace, central A/C, solar system, 340-amp electrical panel, new interior and exterior outlets, and all new interior and exterior lighting.Enjoy modern conveniences including a whole-home speaker system with indoor and outdoor speakers, Ring doorbell, interior and exterior security cameras, covered patio, private courtyard, attached garage, 3-car carport, and abundant parking for RVs, boats, trailers, and recreational vehicles. A 50-amp outlet is ready for an RV, camper, or tiny home.The R7 zoning offers incredible potential for future development with the possibility of creating 3-5 lots (buyer to verify with local authorities). Whether you're searching for a home, investment property, or future development opportunity, this property offers unmatched flexibility.Conveniently located just minutes from downtown Milwaukie, the future MAX station, Sellwood, shopping, dining, parks, and schools. Rarely does a property combine extensive renovations, a large dividable lot, and outstanding investment potential in such a desirable location. Live in it, rent it, or develop it-the possibilities are endless!