37 Martin Lake Drive
$969,000
37 Martin Lake Drive
Lake Echo · MLS® 202616349
House · Multi-family · built 1972 · 114 days on market
listed by Tanya Smyk, RE/MAX Nova (Halifax)
realtor's description
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.
property details
- type
- House, Multi-family
- parking
- 0
- year built
- 1972
- days on market
- 114
- MLS®
- 202616349
features
- Balcony
- School Bus
- Recreational Facilities
- Washer
- Refrigerator
- Stove
monthly cost
$4,222/mo
Mortgage $4,222
20% down at 4.34% fixed (Ratehub.ca), 25 years.