Rare 15.5-Acre Sauvie Island Estate with Two Homes Listed for $1.5M

The iconic 'Penny Lane' property features a classic ranch-style home and a newer Mediterranean-style residence.

Apr. 12, 2026 at 12:04am by

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An extremely abstracted, out-of-focus photograph of a rural, countryside scene with a classic ranch-style home in the background, composed entirely of soft pools of warm color and light, conceptually representing the tranquil and picturesque setting of the Sauvie Island property.This scenic Sauvie Island estate offers a unique opportunity to own a versatile property with endless possibilities.Portland Today

A rare 15.5-acre property on scenic Sauvie Island in Portland, Oregon, featuring two homes, a pole barn with office, and multiple outbuildings, has been listed for sale for $1.495 million. The original 3-bedroom, 2-bathroom ranch-style home at 19330 NW Gillihan Road is known as the 'Penny Lane' home, which was featured in the movie 'Almost Famous.' The second, newer 2009-built home at 19490 NW Gillihan showcases a spacious Mediterranean design with a large primary suite and an attached in-law quarters.

Why it matters

This versatile property presents endless possibilities for a hobby farm, livestock, recreational storage, a woodshop, art studio, or other custom uses, making it an attractive option for those seeking a unique island estate in the Portland area.

The details

Built under a farm exemption, the newer home at 19490 NW Gillihan offers added flexibility, while the original home at 19330 NW Gillihan is eligible for conversion to an accessory dwelling unit. The property features a pole barn with an office, as well as multiple outbuildings, providing ample space for a variety of uses.

  • The original residence at 19330 NW Gillihan is a classic ranch-style home.
  • The second home at 19490 NW Gillihan was built in 2009.

The players

Sauvie Island

A scenic island located in the Columbia River near Portland, Oregon.

19330 NW Gillihan Road

The address of the original 'Penny Lane' ranch-style home on the property.

19490 NW Gillihan Road

The address of the newer Mediterranean-style home on the property, built in 2009.

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The takeaway

This unique property on Sauvie Island offers a rare opportunity for buyers seeking a versatile and picturesque island estate, with the potential for a variety of uses, from a hobby farm to an art studio or recreational space.