About 37 Martin Lake Drive
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.
Features of 37 Martin Lake Drive
| MLS® # | 202616349 |
|---|---|
| Price | $969,000 |
| Bedrooms | 16 |
| Year Built | 1972 |
| Type | Residential Income |
| Sub-Type | Quadruplex |
| Status | Active |
Community Information
| Address | 37 Martin Lake Drive |
|---|---|
| Area | Halifax - Dartmouth |
| Subdivision | 31-B |
| City | Lake Echo |
| County | Halifax |
| Province | NS |
| Postal Code | B3E 1B3 |
Amenities
| Parking | Gravel, Parking Spaces(s) |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior Features | Locker, See Remarks, Storage |
|---|---|
| Appliances | Stove, Dryer, Washer, Refrigerator |
| Heating | Baseboard |
| Fireplace | No |
| # of Stories | 2 |
| Has Basement | No |
| Basement | None |
Exterior
| Exterior Features | Balcony |
|---|---|
| Lot Description | Under 0.5 Acres |
| Roof | Asphalt |
| Construction | Stucco, Vinyl Siding |
| Foundation | Slab |
School Information
| Elementary | Bell Park Academic Centre |
|---|---|
| Middle | Graham Creighton Junior High School |
| High | Auburn Drive High School |
Additional Information
| Zoning | R-1 |
|---|
Listing Details
| Office | RE/MAX Nova (Halifax) |
|---|