Duplex with Attached Garages and
For Sale
$609,000
1880 LAKE COVE Ave, Eugene, OR 97408
MULTI_FAMILY - Eugene, OR
Property Size2,256 SF
Lot Size0.12 Acres
Price / SF$269.95
Days on Market363
Property Features for 1880 LAKE COVE Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R_2 PD
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 2
Subdivision
LAKE SHORE ESTATES
Elementary school
Gilham
Middle school
Cal Young
High school
Sheldon
Directions
North on Gilham, Left on Ayers, Left at Lake Shore Estates
Standard status
Active
APN
1514031
Size
2,256 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
1703083301137
Tax Annual Amount
7557
Legal Description
1703083301137
Utilities
Heating system
Heat Pump (Heating), Forced Air
Cooling system
Heat Pump, Central Air
Amenities
common area with lake views
lakeside walking path
Building Details
Year built
1998
Floors in Building
1
Number of units
2
Roof type
Tile
Listing Agency:
John L. Scott Portland Central
(503) 230-8600
Listed By:
Kristin Clark
(541) 912-2646
Added: Aug 5, 2025
Changed: Aug 2
Last Checked: Aug 2 at 11:06PM
MLS# 189946520
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained duplex offers flexible living arrangements with both units vacant and ready for immediate occupancy. Each unit is a two-bedroom, one-bath layout with a private patio. The property also includes attached single-car garages with laundry in each unit, and a tile roof. Unit 1880 features a tub/shower combination, while the other unit (3328 Lake Glenn) includes a walk-in shower.
Set within the gated community of Lake Shore Estates, the duplex also benefits from shared amenities including a common area to sit and enjoy lake views and a scenic lakeside walking path.
Built in 1998, the property sits on a 0.12-acre lot and provides 2,256 square feet in total. Heating is provided by heat pump and forced air systems, and cooling includes central air and a heat pump.
Set within the gated community of Lake Shore Estates, the duplex also benefits from shared amenities including a common area to sit and enjoy lake views and a scenic lakeside walking path.
Built in 1998, the property sits on a 0.12-acre lot and provides 2,256 square feet in total. Heating is provided by heat pump and forced air systems, and cooling includes central air and a heat pump.
Key Highlights
- Duplex in Lake Shore Estates with both units vacant and ready for immediate occupancy
- Each unit has 2 bedrooms, 1 bathroom, plus a private patio
- Attached single‑car garages with laundry for each unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.2k | $12.96 |
| − Vacancy | −$333 | −$0.15 |
| EGI | $28.9k | $12.81 |
| − OpEx | −$8.7k | −$3.84 |
| NOI | $20.2k | $8.97 |
2,256 SF · lease $12.96/SF/yr · vacancy 1.14% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$289.0K
$252.9K – $337.2K
NOI $20,233 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$252.2K
$220.7K – $294.2K
NOI $17,653 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$680.7K
$595.6K – $794.1K
NOI $47,647 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Explore this area
Business Placement
Demographics for 97408, OR
14,655
Population
6,585
Households
2.2
Avg Household Size
44
Median Age
49%
College-Educated
96%
High-School Grad
49.8 sq mi
ZIP Area
294
Density / Sq Mi
$102,063
Median Household Income
$47,280
Median Earnings
$1,731
Median Rent
$535,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex in Lake Shore Estates, both units vacant and ready for immediate occupancy.
Where is this duplex located?
The property is located at 1880 LAKE COVE Ave Eugene, OR.
What is the asking price?
The asking price for this property is $609,000.
What are key features of this property?
This property features: Duplex in Lake Shore Estates with both units vacant and ready for immediate occupancy; Each unit has 2 bedrooms, 1 bathroom, plus a private patio; Attached single‑car garages with laundry for each unit
