2447 Nw Old Thompson Bridge Road, Gainesville, GA 30501
- $1,199,999
- List Price
- $1,199,999
- Price Change
- ▼ $49,901 1784573427
- MLS#
- 7738667
- Status
- ACTIVE
- Type
- Multifamily
- Subtype
- Quadruplex
- Lot Size
- 0.01
- Subdivision
- Hidden Cove
Property Description
Exceptional Lake Lanier income-producing investment opportunity in Gainesville, GA featuring 4 fully completed, 100% occupied Class A condominium units with strong in-place cash flow and built-in rent growth potential. Current rental income is approximately $90,600 annually ($7,550/month) based on the current rent roll, with an estimated NOI of approximately $80,436 and an estimated 6.24% cap rate at the current list price of $1,290,000. Current unit rents are $2,000, $1,750, $1,800, and $2,000/month. Leases include renewal provisions allowing for potential rent increases of up to 40%, providing additional upside potential as tenants renew, subject to market conditions and buyer verification. Each unit offers approximately 1,440 SF with 3 bedrooms and 3.5 bathrooms, featuring modern construction (2023), functional floorplans, and low-maintenance ownership appeal for long-term investors. The property is within walking distance to Holly Park and offers lake views from the condominium units, enhancing tenant appeal and long-term rental demand. Conveniently located minutes from Lake Lanier, Gainesville retail corridors, dining, medical facilities, and major employment centers, this property offers a rare combination of stabilized income, strong rental demand, and future rent growth potential in one of North Georgia’s fastest-growing lake-area markets.
Additional Information
- Stories
- Three Or More
- Construction
- Block, HardiPlank Type
- Year Built
- 2024
- Neighborhood Amenities
- Lake, Near Shopping, Near Trails/Greenway
- Roof
- Composition
- Lot Dimensions
- 0x0x0
- Parking
- Parking Lot, Paved, Varies by Unit
- Lot Desc
- Wooded
- Water
- Public
- Sewer
- Public Sewer
- Elementary School
- Enota Multiple Intelligences Academy
- Middle School
- Gainesville East
- High School
- Gainesville
- Acres
- 0.01
- Dock
- Dock
- Annual Expenses
- 10164
- Levels
- Three Or More
- Gross Income
- 90600
- Net Operating Income
- $80,436
- Taxes
- $3,866
Listing courtesy of EXP Realty, LLC..
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