Owned by the López family of Iloilo, it was the former residence of Eugenio López Sr., the co-founder of ABS-CBN Corporation, and the brother of Fernando Lopez Sr., who served as Vice President of the Philippines.

The house, built in 1935, was declared a National Heritage House by the National Historical Commission on March 13, 2002.

According to Oscar Lopez, one of the heirs and son of Eugenio, the design of the house evokes the appearance of a battleship, complete with portholes.

The long veranda of the house is likened to a boat's viewing deck, while the tower extends up to a fourth-floor observation area.

[3] From 1992 to 1997, the Boat House was leased by the PAREF Westbridge School for boys.