A walk of about 40 minutes will take you to find these hidden waterfalls in the forest. If you want you can then go down to Lake Traful and visit Puerto Arrayan.
Coa Co
The first tranche is made in vehicle, up to Pampa de los Alamos, a parking area. There you have to drop the car and walk the trail, well marked with signage and markings on the trees. There are two possible options. To the left you reach the waterfall viewpoint Coa Co, an easy walk returning to the parking. The walk takes about 30 minutes.
Then you can take the path on the right which will take you up to the Arroyo Blanco waterfall. This walk lasts 30 minutes too.
Co Lemu
This waterfall is larger than the other ones and is a little farther from the center of the town. Take the road to Villa La Angostura and at about 8 km on route 65, before crossing the Arroyo Catarata, is the parking.
There the ascent that takes about 30 minutes begins. The difficulty is low. The trail runs alongside the stream Catarata amidst an attractive landscape that surprises with a cascade of 20 m. height, surrounded by a rock canyon!
If you wish you can continue to Puerto Arrayan, a beautiful bay with magnificent beaches formed by the southern arm of Lake Traful.