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$1,290,000

Est. payment - /mo

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435 Sqft Lot

Price Dropped by $85K

2447 NW Old Thompson Bridge RD Gainesville, GA 30501

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Nicole Van Den Bergh

[email protected] +1(770) 283-1223

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Key Details

Property Type Multi-Family

Sub Type Multi Family,Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision Hidden Cove

MLS Listing ID 10714727

HOA Fees $8,640

HOA Y/N Yes

Year Built 2024

Annual Tax Amount $3,866

Tax Year 2025

Lot Size 435 Sqft

Acres 0.01

Lot Dimensions 435.6

Property Sub-Type Multi Family,Quadruplex

Source Georgia MLS 2

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.

Location

State GA

County Hall

Rooms

Bedroom Description No

Basement Finished

Interior

Heating Central

Cooling Central Air

Fireplace No

Exterior

Parking Features Parking Pad

Garage Spaces 8.0

Community Features Lake, Near Shopping

Utilities Available Underground Utilities

View Y/N No

Total Parking Spaces 8

Garage No

Private Pool No

Building

Faces From Downtown Gainesville, take Jesse Jewell Pkwy (US-129) toward Old Thompson Bridge Rd. Turn onto Old Thompson Bridge Rd (GA-60) and continue north. Property will be on the right near Hidden Cove Ct. Use GPS: 2439, 2443, 2447, 2451 Old Thompson Bridge Rd, Gainesville, GA 30501

Foundation Block

Sewer Public Sewer

Water Public

Structure Type Block

New Construction No

Schools

Elementary Schools Enota

Middle Schools Gainesville East

High Schools Gainesville

Others

HOA Fee Include Maintenance Structure,Maintenance Grounds

Tax ID 01097A000027

Special Listing Condition Resale

NEARBY SCHOOL & BUSINESS

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Nicole Van Den Bergh

Broker | License ID: 381292

+1(770) 283-1223

2447 NW Old Thompson Bridge RD Gainesville, GA 30501

Nicole Van Den Bergh

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

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2447 NW Old Thompson Bridge RD

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