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!