From the moment you arrive, you'll be captivated by the rare blend of storybook charm, effortless luxury, and waterfront living that defines this exceptional Cabana retreat on Oswego Lake's coveted Lakewood Bay. Located in the heart of downtown Lake Oswego, this beautifully renovated residence offers the rare opportunity to enjoy serene lakefront living with unmatched walkability to restaurants, coffee shops, boutiques, and everyday amenities. Fully renovated in 2019, the home was thoughtfully designed for seamless indoor/outdoor living and effortless entertaining. Begin your mornings paddleboarding into town for coffee, spend sunny afternoons on your private Southern facing dock, and end the evening boating to dinner or hosting sunset gatherings along the bay.The gourmet kitchen opens beautifully to the great room overlooking the water, while covered outdoor entertaining spaces create an inviting extension of the home year-round. The main residence offers a main-level guest suite adjacent to a remodeled full bath. Upstairs, the primary suite features vaulted ceilings, skylights, a walk-in closet, and French doors opening to a private deck overlooking the bay. Two additional bedrooms plus a spacious den or optional fifth bedroom provide flexibility for a home office, gym, or media room. Elevator access to all floors and a charming upper-level laundry chute add convenience and character. Outdoor spaces feel equally magical, with a private courtyard featuring lush gardens, elegant fountain, gas fireplace, two patios, and a fully fenced low-maintenance turf yard. The detached guest cottage offers a luxurious retreat with a bright bedroom, lower-level living area, wine cellar, and private patio with gas fireplace. Four garage spaces, a private boathouse with lift, rare no-stair water access, true walkability, and turn-key condition make this a true unicorn! This is more than a home-It is one of Lake Oswego's most coveted waterfront lifestyles.