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7402 3 Highway
405-Lunenburg County Martins River B0J 2E0

$589,000
Multi-Family

Main Photo: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 1: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 2: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 3: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 4: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 5: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 6: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 7: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 8: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 9: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 10: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 11: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 12: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 13: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 14: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 15: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Photo 16: 7402 3 Highway in Martins River: 405-Lunenburg County Multi-Family for sale (South Shore)  : MLS®# 202620769
Status:
Active
Prop. Type:
Multi-Family
MLS® Num:
202620769
Located just minutes from the town of Mahone Bay, this multi-unit apartment house in the heart of Martins River has had numerous upgrades in recent years including: roofing (metal and asphalt) drywall, kitchens, baths, flooring and ductless heat-pumps. The building consists of five one-bedroom units totaling 2,600 sq. ft. with all units fully occupied. The property has ample parking, a large back yard and adjacent the building a 24 ft. by 24 ft detached garage. The land is comprised of two side-by-side lots: one occupied by the building consisting of 15,500 sq. ft. of level land and the second vacant parcel consisting of 25,800 sq. ft. for a total of just under one acre of land. This property would lend itself for further expansion - either for residential use or for any number of commercial enterprises. The convenient location has always insured stable occupancy and revenue.
Exit 10 from Highway 103. Left onto old Highway 3 direction Martins River. Property on the left shortly after the bridge in Martins River.
Listing Sub-Area:
405-Lunenburg County
Property Type:
Multi-Family
Multi-Family Type:
5 - 8 Unit
Title To Land:
Freehold
Building Dimenions:
25'x36'+16'5x34'+6'5x9'5+12'5x20'+16'x15'
Outside Dimenions:
25'x36'+16'5x34'+6'5x9'+12'5x20'+16'x15'
Lot Size:
0.95 acre(s)
Prop Size:
0.5 to 0.99 Acres
Commercial / Retail Space:
No
# of Rental Units / Occupied:
5
Age:
75
# Floors:
2
Exterior Finish:
Vinyl
Foundation:
Concrete
Basement:
Crawl Space
Floor Finish:
Carpet, Laminate, Tile, Vinyl
Roof:
Metal
Heating:
Baseboard, Heat Pump -Ductless
Fuel:
Electric
Garage Description:
Garage 24 ft by 24 ft
Parking:
Yes
Parking Description:
Ample parking for five vehicles.
Driveway:
Gravel, Parking Spaces(s)
Water Supply:
Drilled Well
Sewer:
Septic
Num Units:
5
Num 1 Bed Units:
4
Num 2 Bed Units:
1
# Of Fridges:
6
# Of Stoves:
5
Rental Income:
Yes, $4,450 per month
Approx. Net Income:
$35,720
Insurance Expense:
$5,520
Taxes Costs:
$3,504 approximate
Snow / Garbage Collection:
$629
Electricity Bill:
$8,027
Approx. Total Expense:
$17,680
Approx. Total Income:
$53,400 annually
Air Conditioning, Balcony, Power, Storage
Five fridges and five stoves.
Range - Electric, Refrigerator
None
Deck
No
Zoning:
res
Possession Info:
Negotiable.
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Listed by Engel & Volkers (Lunenburg)
Data was last updated October 15, 2026 at 06:30 AM (UTC)
Area Statistics
Listings on market:
16
Avg list price:
$687,400
Min list price:
$379,900
Max list price:
$3,500,000
Avg days on market:
120
Min days on market:
27
Max days on market:
447
These statistics are generated based on the current listing's property type and located in 405-Lunenburg County. Average values are derived using median calculations. This data is not produced by the MLS® system.