Address
37 Martin Lake Drive, Lake Echo, NS
Price
$ 999,000
Property Attributes
- MLS#202616349
- TypeMulti-Family
- Listing Status ACTIVE
- CityLake Echo
- AreaHalifax - Dartmouth
- Neighbourhood31-B
- Postal CodeB3E 1B3
- StyleQuadruplex
- Year Built1972
- Price$ 999,000
- Bedrooms16
- Full Bathrooms0
- Half Bathrooms0
Data Source:
Nova Scotia Association of REALTORS® (NSAR)
Property Description
RARE OPPORTUNITY. Investment opportunities like this are seldom available in Lake Echo. One of the few four-unit apartment buildings in the area, this fully occupied property offers immediate rental income with a 5.1% cap rate in a market where demand for quality rental housing remains strong. The well-maintained building features four two-bedroom apartments, a common laundry room, well and septic, and a newly constructed four-unit storage building (2025), adding both tenant convenience and long-term value. With happy, established tenants already in place, investors can step into a stable, income-producing asset from day one. Significant capital improvements have already been completed, reducing the risk of costly deferred maintenance for the next owner. Major investments include an Eco-Flow septic system, drainage management system, well pump, pressure tank, commercial laundry equipment, renovated bathrooms, and numerous other infrastructure upgrades completed over the past several years. Rather than inheriting a list of major projects, the next owner can focus on operating and growing the investment with confidence. Located in one of the Halifax area's most sought-after bedroom communities, Lake Echo continues to attract families and professionals seeking a quieter, cottage-country lifestyle within commuting distance of the city. Its combination of natural surroundings with lakes and outdoor activities, public transit, nearby amenities, and easy access to downtown Halifax and the airport supports strong tenant demand, helping minimize vacancy risk and making this a compelling addition to any investment portfolio. Full financials and list of upgrades and maintenance since 2022 available.
| Elementary School | Middle School | High School |
|---|---|---|
| Bell Park Academic Centre Elementary School | Graham Creighton Junior High School Middle School | Auburn Drive High School High School |
| Price History | |
|---|---|
| 7/2/2026 | Listed $1,100,000 |
| 8/4/2026 | 5$1,050,000 |
| 9/6/2026 | 5$999,000 |
General Features
| Sewer | Septic Tank |
|---|---|
| Heating | Baseboard |
| Possession | Negotiable |
| Roof | Asphalt |
| Zoning | R-1 |
| Gas Y/N | Oil |
| Year Built | 1972 |
| Property Subtype | Quadruplex |
| Ownership | Freehold |
| County | Halifax |
| New Construction | false |
| Property Type | Residential Income |
| Garage Y/N | false |
| Status | ACTIVE |
| Directions | Highway 107 to exit 18, right on Hwy 7 left on Martin Lake Drive, property is on the right. |
| City | Lake Echo |
| MLS Area | 31-Lawrencetown, Lake Echo, Porters Lake |
| MLS Area Minor | 31-B |
| Rent Control Y/N | false |
| Building Area Units | Square Feet |
| Living Area Units | Square Feet |
| Standard Status | Active |
| High School | Auburn Drive High School |
| Elementary School | Bell Park Academic Centre |
| Middle/Junior High School | Graham Creighton Junior High School |
| Construction Materials | Stucco,Vinyl Siding |
| Stories Count | 2 |
| Virtual Tour | https://tours.snaphouss.com/37martinlakedrivelakeechonsb3e1b1?b=0 |
| Appliances | Stove,Dryer,Washer,Refrigerator |
| Community Features | Park,Playground,Near Public Transport,Recreation Center,School Bus Service,Place of Worship,Beach |
| Other Structures | Shed(s) |
| Number Of Units Total | 4 |
| Number of Units Leased | 4 |
Interior Features
| Interior Amenities | Locker,See Remarks,Storage |
|---|---|
| Basement | None |
| Flooring | Laminate |
| Heating Y/N | true |
| Total Bedrooms | 16 |
| Below Grade Finished Area Unit Type | Square Feet |
| Laundry Features | Laundry |
Exterior Features
| Parking Features | Gravel,Parking Spaces(s) |
|---|---|
| Lot Features | Under 0.5 Acres |
| Water Source | Drilled Well |
| Inclusions | 4 Fridges, 4 Stoves, 1 Commercial Washing Machine, 1 Commercial Dryer, Lawn Mower, Salt Spreader |
| Foundation Details | Slab |
| Waterfront Y/N | false |
| Other Equipment | No Rental Equipment |
| Road Frontage Type | Public |
| Other Parking | Parking Details(Gravel, Multiple Spaces),Garage Details(8 Spaces) |
| Exterior Amenities | Balcony |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No Strata Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in B3E 1B3
Price
Year Built
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