37 Martin Lake Drive

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 areas 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. (id:56844)