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37 Martin Lake Drive in Lake Echo: 31-Lawrencetown, Lake Echo, Porters Lake Multi-Family for sale (Halifax-Dartmouth) : MLS®# 201922114

37 Martin Lake Drive Lake Echo B3E 1B3 : 31-Lawrencetown, Lake Echo, Porters Lake

Main Photo: 37 Martin Lake Drive in Lake Echo: 31-Lawrencetown, Lake Echo, Porters Lake Multi-Family for sale (Halifax-Dartmouth)  : MLS®# 201922114
$315,000
Prop. Type:
Multi-Family
MLS® Num:
201922114
Status:
Active
Year Built:
1974
Great 4-PLEX income producer in Lake Echo (8.1 Cap rate). Only 20 min. from McKay Bridge! There is only 1 other apt. building in Lake Echo making it a very sought after rental building. Huge 2 bedroom units rent for $835; $835; $793 & $720 inc. heat & water. Tenants pay power. NEW ROOF inc. plywood August 2017, 18 NEW WINDOWS throughout May 2019 plus numerous other upgrades. This very quiet area is among owner/occupied homes. Walk to the rec centre on the lake and canoe or kayak, corner stores, Metro transit. Large lot. Lots of parking. Well has never gone dry in 18 yrs.
Hwy 107 to Lake Echo exit, left to Hwy #7, right 6-10 blocks to Martin Lake Drive.
Listing Sub-Area:
31-Lawrencetown, Lake Echo, Porters Lake
Property Type:
Multi-Family
Multi-Family Type:
Fourplex
Title To Land:
Freehold
Lot Details:
25010 Sq Ft
Prop Size:
0.5 to 0.99 Acres
# of Rental Units / Occupied:
4
Year built:
1974 (Age: 45)
Age:
45
Exterior Finish:
Stucco, Vinyl
Foundation:
Concrete, Slab
Basement:
None
Floor Finish:
Laminate, Linoleum
Roof:
Asphalt Shingle
Heating:
Baseboard, Furnace, Hot Water
Fuel:
Oil
Parking:
Yes
Parking Description:
8+ spaces
Driveway:
Gravel, Parking Spaces(s), Shared
Water Supply:
Drilled Well
Sewer:
Septic
Num Units:
4
Num 2 Bed Units:
4
# Of Fridges:
4
# Of Stoves:
4
Rental Income:
Yes, $38,220/yr
Laundry Income:
$340/yr
Approx. Net Income:
$24,022.27
Insurance Expense:
$2332..35
Taxes Costs:
$3049.9
Snow / Garbage Collection:
$500 approx.
Heating Bill:
$8164.10
Electricity Bill:
$991.36
Approx. Total Income:
$38560
Balcony, Cable, Laundry, Storage
4 fridges, 4 stoves
Coin-op washer/dryer ( can have contracts with Coin-o-matic)
Public Transit, School Bus Service, Shopping, Ski Hill
Stove, Refrigerator
None
Deck
No
Zoning:
Gen
Possession Info:
Negotiable
Listed Date:
Days on Mkt:
Listed by Royal LePage Atlantic
Data was last updated October 17, 2019 at 11:20 PM (UTC)
COHEN MACINNIS

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Nova Scotia Income Property | Nova Scotia Multi-Unit Apartment Buildings For Sale

Cohen has been involved with many aspects of the real estate industry since 2006. This includes residential and commercial renovations, property management and investing in multi-family income properties after purchasing first apartment building at age of 19, He built Highland Place Group Inc. to over 50 rental units at its peak.

 

A passion for real estate has made Cohen a top performer – winning an International Sterling Society Award placing him in the top 12% of agents worldwide with Coldwell Banker and more recently the RE/MAX Executive Club Award in both 2013, 2014 and RE/MAX 100% Club in 2015 and 2016 placing him among top agents under 30 - A young leader in the Halifax marketplace.

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