The cove is situated just east of the northern glacier tongue, which calves into Lake Hvitarvatn.  A spit ofland almost closes its mouth and at the end of it is sunny and sheltered area, where 84 species of plants thrive at an elevation of 420-440 m above sea level (marsh cinquefoil, marsh marigold, wood crane’s bill, angelica, stone bramble, birch, willow and juniper).

According to a legend, an elderly man regularly brought a mare with a foal to Karlsdrattur.  He left the foal on one side of the cove and took the mare to the other side.  Then he fastened a long net to the mare, let it swim across the mouth of the cove to the foal, and held the other end of the net rope. He then walked around the cove and caught a lot of lake char every time.  Ruins of a fishermen’s’ shelter were found on the cove late in the 19^th century.