2-4 Unit - Multi-Units Investments
37 Martin Lake Drive
31-Lawrencetown, Lake Echo, Porters Lake
Lake Echo
B3E 1B3
$1,100,000
Multi-Family
built: 1972
- Status:
- Active
- Prop. Type:
- Multi-Family
- MLS® Num:
- 202616349
- Year Built:
- 1972
- Photos (35)
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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.
- Highway 107 to exit 18, right on Hwy 7 left on Martin Lake Drive, property is on the right.
- Listing Sub-Area:
- 31-Lawrencetown, Lake Echo, Porters Lake
- Property Type:
- Multi-Family
- Multi-Family Type:
- Fourplex
- Title To Land:
- Freehold
- Building Dimenions:
- 52.4 x 33.4
- Outside Dimenions:
- 52'4" x 33'4"
- Prop Size:
- Under 0.5 Acres
- Commercial / Retail Space:
- No
- # of Rental Units / Occupied:
- 4
- Year built:
- 1972 (Age: 54)
- Age:
- 54
- # Floors:
- 2
- Exterior Finish:
- Stucco, Vinyl
- Foundation:
- Slab
- Basement:
- None
- Floor Finish:
- Laminate
- Roof:
- Asphalt Shingle
- Heating:
- Baseboard
- Fuel:
- Oil
- Garage Description:
- 8 spaces
- Parking:
- Yes
- Parking Description:
- Gravel, multiple spaces
- Driveway:
- Gravel, Parking Spaces(s)
- Water Supply:
- Drilled Well
- Sewer:
- Septic
- Num Units:
- 4
- Num 4 Bed Units:
- 4
- # Of Dryers:
- 1
- # Of Fridges:
- 4
- # Of Stoves:
- 4
- # Of Washers:
- 1
- Rental Income:
- Yes, 78990.
- Approx. Net Income:
- 56,111.13
- Insurance Expense:
- 2897.30
- Taxes Costs:
- 6605.74
- Other Costs:
- 2038.20
- Maintenace:
- 1200.0
- Heating Bill:
- 9473.02
- Electricity Bill:
- 1864.52
- Approx. Total Expense:
- 22878.87
- Approx. Total Income:
- $78,990.00
- Balcony, Laundry, Locker, See Remarks, Storage
- 4 fridges, 4 stoves, 1 commercial washing machine, 1 commercial dryer, lawn mower, salt spreader
- Beach, Park, Playground, Public Transit, Recreation Center, School Bus Service, Place of Worship
- Stove, Dryer, Washer, Refrigerator
- Furnace
- Shed
- No
- Zoning:
- R-1
- Possession Info:
- Negotiable
- Elementary School:
- Bell Park Academic Centre
- High School:
- Auburn Drive High School
- Middle School:
- Graham Creighton Junior High School
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Front
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Aerial
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Front
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Side/back of building
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Front of building
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Storage Building
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Birdseye
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Unit 2 floor plan
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Unit 3 deck
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Unit 3 deck
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Unit 3 foyer
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Hallway
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Unit 3 kitchen
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Unit 3 kitchen
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Unit 3 living room
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Unit 3 living room
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Unit 3 bedroom
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Unit 3 bedroom
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Unit 3 bathroom
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Back of building showing Unit 4 balcony
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Unit 2 foyer
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Unit 2 kitchen
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Unit 2 kitchen
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Unit 2 living room
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Unit 2 living room
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Unit 2 bedroom
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Unit 2 bedroom
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Unit 2 bedroom
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Unit 2 back door
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Unit 2 bathroom
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Common area laundry room
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Exterior
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Side yard
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Aerial
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Aerial
Larger map options:
Listed by RE/MAX Nova (Halifax)
Data was last updated July 3, 2026 at 01:20 AM (UTC)
Area Statistics
- Listings on market:
- 119
- Avg list price:
- $825,000
- Min list price:
- $275,000
- Max list price:
- $6,595,000
- Avg days on market:
- 57
- Min days on market:
- 1
- Max days on market:
- 619
These statistics are generated based on the current listing's property type
and located in
Halifax-Dartmouth. Average values are
derived using median calculations. This data is not produced by
the MLS® system.
- Angela Leaman
- KELLER WILLIAMS SELECT REALTY - 14094
- 9022927826
- Angela@LeamanRE.ca

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