Rare opportunity to own 15.5 acres on scenic Sauvie Island. The iconic 'Penny Lane' home (Yes, the Penny Lane played by Kate Hudson in the movie 'Almost Famous')features two homes on one tax lot, a pole barn with office, and multiple outbuildings in a truly picturesque countryside setting. The original residence at 19330 NW Gillihan is a classic ranch-style home offering 3 beds, 2 baths, an open floor plan, and pole barn with office. The second home at 19490 NW Gillihan, showcases single-level Mediterranean design with a spacious layout, a large primary suite, and a beautiful surrounding yard. It also includes an attached in-law quarters with a kitchenette and private exterior entrance. Built under a farm exemption, the newer home offers added flexibility, while the original home is eligible for conversion to an accessory dwelling unit (buyer to verify with the City of Portland regarding zoning and permitted uses). This versatile property presents endless possibilities—ideal for a hobby farm, livestock, or chickens, and perfectly suited for recreational storage, a woodshop, art studio, fitness space, or other custom uses. Bedrooms, baths and square footage posted are for both homes. Schedule your viewing today and find your dream island estate.