For Sale: 37 Martin Lake Drive, Lake Echo, NS - REW
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$969,000
0 bd • ba • sf • Multifamily
37 Martin Lake Drive
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$969,000

37 Martin Lake DriveLake Echo, NS, B3E 1B3

  • 0 Bed
  • Bath
  • Sqft
  • Multifamily

About this home

RARE OPPORTUNITY. A fully occupied fourplex minutes from Dartmouth offering a 6.0% going-in capitalization rate at the asking price. The property includes four 2-bedroom apartments, established tenants, commercial-grade laundry and a newly constructed four-unit storage building. More than $212,000 has been invested in capital improvements and major building upgrades since 2022, including a new Ecoflo septic system, drainage management system, well equipment, bathroom renovations, commercial laundry equipment, insulation, exterior doors and other significant improvements. The result is an income-producing multifamily property with substantial infrastructure work already completed and approximately $58,149 in annual NOI. Full financials and list of upgrades and maintenance since 2022 available. (id:63626)
Listed by: Tanya Smyk, RE/MAX Nova (Halifax)

Home facts and features

Price details
List Price
$969,000
Home facts
Bedrooms
0
Full Bathrooms
Parking Details
Parking Space(s), Gravel
Property Type
Multifamily
Depth
Year Built
Built in 1972 (54 yrs old)
Title
Freehold
Exterior Finish
Stucco, Vinyl
Heating Type
Baseboard heaters, Oil
Features
Balcony, Storage - Locker
Appliances
Dryer, Refrigerator, Stove, Washer
Agent details
Primary Agent
Primary Broker
RE/MAX Nova (Halifax)
Listing details
Days on REW
100 Days
MLS® Number
202616349
Source
Canadian Real Estate Association
Board
Nova Scotia Association of REALTORS®
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Purchase Price
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Amortization
25 Years
Interest Rate
3.99%

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Property Insights

Bell Park Academic Centre
  • n/a
  • K - 6
  • In Catchment
Graham Creighton Junior High School
  • n/a
  • 7 - 9
  • In Catchment
Humber Park Elementary School
  • n/a
  • K - 6
  • In Catchment
Auburn Drive High School
  • n/a
  • 10 - 12
  • In Catchment
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Call Agent
Tanya Smyk
Phone:
(902) 237-2437
Office:
902-453-9300
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