Duplex with Private
For Sale
$559,000
1880 LAKE COVE Ave, Eugene, OR 97408
MultiFamily, Eugene, OR
Property Size2,256 SF
Lot Size0.12 Acres
Price / SF$247.78
Days on Market455
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
Bathroom 1, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 1, 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
Forced Air, Heat Pump (Heating)
Cooling system
Heat Pump, Central Air
Amenities
gated
common area
lake views
lakeside walking path
Building Details
Year built
1998
Floors in Building
1
Number of units
2
Roof type
Tile
Buildings
1
Listing Agency:
John L. Scott Portland Central
(503) 230-8600
Listed By:
Kristin Clark · License #200610184
(541) 912-2646
Added: Aug 5, 2025
Changed: Oct 30
Last Checked: Nov 2 at 3:06PM
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.
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Investment Insights
Based on property information with market context.
This 2,256-square-foot duplex was built in 1998 and includes two vacant residences, each with two bedrooms, one bathroom, a private patio, an attached single-car garage, and laundry facilities. Unit 1880 has a tub and shower combination, while Unit 3328 Lake Glenn includes a walk-in shower. Heating is provided by forced air and heat pumps, with heat-pump and central-air cooling. The property has a tile roof and sits on a 0.12-acre lot zoned R_2 PD.
Set within the gated Lake Shore Estates community, the property includes access to a shared sitting area with lake views and a lakeside walking path. Both residences are currently vacant, allowing the next owner to occupy, lease, or use the two units for household needs, as supported by the existing configuration.
Set within the gated Lake Shore Estates community, the property includes access to a shared sitting area with lake views and a lakeside walking path. Both residences are currently vacant, allowing the next owner to occupy, lease, or use the two units for household needs, as supported by the existing configuration.
Key Highlights
- 2,256‑square‑foot duplex on a 0.12‑acre lot
- Built in 1998 with tile roofing
- Two units, each with 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,233
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,660
$404.7K
Cap Rate 7%
$289,043
$289.0K
Cap Rate 9%
$224,811
$224.8K
Market Conditions
NOI Build-Up for 2,256 SF
Gross rent
$29.2K $12.96/SF
− Vacancy
−$333 −$0.15/SF
EGI
$28.9K $12.81/SF
− OpEx
−$8.7K −$3.84/SF
NOI
$20.2K $8.97/SF
Area
Eugene, OR
Vacancy
1.14%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,660
Cap Rate 7%
$289,043
Cap Rate 9%
$224,811
Alternative Uses
Best Use
Multifamily LT 5
$289.0K
$252.9K – $337.2K
NOI $20,233 @ 7.0% cap · market cap 3.62%
Second Best
Apartment 5plus
$252.2K
$220.7K – $294.2K
NOI $17,653 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$680.7K
$595.6K – $794.1K
NOI $47,647 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Vacant duplex in gated Lake Shore Estates with private patios, attached garages, and in-unit laundry.
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 $559,000.
What are key features of this property?
This property features: 2,256‑square‑foot duplex on a 0.12‑acre lot; Built in 1998 with tile roofing; Two units, each with 2 bedrooms and 1 bathroom
