2447 NW Old Thompson Bridge Road,Gainesville, GA 30501
Gainesville, GA 30501
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.
Details
| MLS # | 10714727 |
|---|---|
| Listing Type | For Sale |
| HOA Dues | $8,640 |
| Sub-Type | Resale |
| Status | Active |
| Year | 2024 |
| Days On Site | 167 |
| Listing Provided By | eXp Realty | Cindy Bermudez-Presgraves |
Features
| Basement | Y |
|---|---|
| Units | 4 |
| Acreage | 0.01 |
Interior
| Cooling | Central Air |
|---|---|
| Cooling Yes / No | Yes |
| Heating | Central |
| Heating Yes / No | Yes |
| Fireplace Yes / No | No |
| Fireplaces Total | 0 |
Exterior
| Construction Materials | Block |
|---|---|
| Foundation Details | Block |
Parking
| Attached Garage Yes / No | No |
|---|---|
| Garage Yes / No | No |
| Parking Features | Parking Pad |
| Open Parking Yes / No | Yes |
Utilities
| Utilities | Underground Utilities |
|---|---|
| Sewer | Public Sewer |
Taxes
| Tax Annual Amount | 3866 |
|---|---|
| Tax Year | 2025 |
Location
| Community Features | Lake, Near Shopping |
|---|
Area Information
| State | GA |
|---|---|
| County | Hall |
| City | Gainesville |
| Zip Code | 30501 |
| Area | Hall |
| Community Name | Hidden Cove |
| School District | Gainesville |
| Elementary School | Enota |
| High School | Gainesville |
| Listing VS Median (in Hidden Cove) | |
Price: $1,149,900 low | high Med: $0 On site: 167 low | high Med: | |
Market Activity 30501
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Learn More About This Property
| State | GA |
|---|---|
| County | Hall |
| City | Gainesville |
| Zip Code | 30501 |
| Area | Hall |
| Community Name | Hidden Cove |
| School District | Gainesville |
| Elementary School | Enota |
| High School | Gainesville |
| Listing VS Median (in Hidden Cove) | |
Price: $1,149,900 low | high Med: $0 On site: 167 low | high Med: | |
