REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Shannon Sanborn

shannon@exploregainesvillega.com +1(678) 997-0206

$ 1,499,900

Est. payment -/mo

Save

Price Dropped by $75K

2451 NW Old Thompson Bridge RD Gainesville, GA 30501

435 Sqft Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Subdivision Hidden Cove

MLS Listing ID 10714666

HOA Fees $2,160

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

Source Georgia MLS 2

Property Description

MAJOR SELLER INCENTIVE: Seller will pay the HOA dues on the 4 completed units for 5 YEARS, subject to final contractual terms. Current HOA dues are approximately $180 per month per completed unit, representing approximately $43,200 in potential HOA savings over five years based on current dues. Exceptional income-producing investment property in the Gainesville, GA / Lake Lanier corridor offering 4 completed, 100% occupied Class A condominium units PLUS 5 additional slab-ready condominium development sites in one complete package. The four completed units were built in 2023 and provide approximately 5,760 total SF, with each residence offering approximately 1,440 SF, 3 bedrooms and 3.5 bathrooms. Current rental income totals approximately $7,550 per month / $90,600 annually based on the existing rent roll. The development portion includes 5 existing basement slabs with utilities in place or stubbed to the sites. Seller represents the development sites as permitted and ready to build, with civil engineering plans and supporting development documentation available for buyer review and verification. This offering provides an opportunity to acquire immediate rental income today with the potential to expand from 4 completed units to 9 total units. The completed units offer lake views and are within walking distance of Holly Park and Lake Lanier access, with convenient access to Downtown Gainesville, shopping, dining, medical facilities and major employment centers. Ideal for multifamily investors, builders, developers, 1031 Exchange buyers, portfolio investors and buy-and-hold investors seeking income-producing real estate with development upside near Lake Lanier. Complete package offered at $1,499,900. Updated leases, rent roll, property-management financials, HOA information, permits, plans and development documentation available upon request. Buyer to independently verify permit status, utilities, governmental approvals, construction requirements and all development information during due diligence.

Location

State GA

County Hall

Rooms

Bedroom Description No

Basement Finished

Interior

Heating Central

Cooling Central Air

Fireplace No

Exterior

Parking Features Detached

Garage Spaces 21.0

Community Features Lake, Near Shopping

Utilities Available Underground Utilities

View Y/N No

Total Parking Spaces 21

Garage Yes

Private Pool No

Building

Faces From Downtown Gainesville, take Jesse Jewell Pkwy NW to Thompson Bridge Rd. Turn right onto Thompson Bridge Rd and continue approximately 2.5 miles. Turn left onto Old Thompson Bridge Rd NW. Properties are located at 2451, 2447, 2443, and 2539 NW Old Thompson Bridge Rd.

Sewer Public Sewer

Water Public

Level or Stories Three Or More

Structure Type Concrete

New Construction No

Schools

Elementary Schools Enota

Middle Schools Gainesville East

High Schools Gainesville

Others

HOA Fee Include Insurance,Maintenance Structure,Maintenance Grounds

Tax ID 01097A000026

Acceptable Financing 1031 Exchange, Cash

Listing Terms 1031 Exchange, Cash

Special Listing Condition Resale

Nearby Locations

Shannon Sanborn

The Flying Realtor® | eXp Realty

Ready to Take the Next Step?
Let's Talk About Your Real Estate Goals

Whether you're buying your first home, exploring new construction, selling your current property, or relocating to Gainesville and Hall County, I'm here to help you make confident decisions every step of the way.

What sets me apart is 20+ years of experience in all phases of new construction homes — from framing and electrical to roofing, siding, doors, windows, cabinets, and structural repairs. I've worked on homes from the ground up.

That experience allows me to see beyond cosmetic finishes and provide insights that help protect one of your biggest investments — especially when buying new construction in Hall County.

When you work with me, you'll get honest advice, responsive communication, and a trusted advocate who is committed to helping you achieve your real estate goals — not just complete a transaction.

I'd love the opportunity to earn your trust and help you take the next step. Schedule a consultation today, and let's build a plan that's right for you.

+1(678) 997-0206 shannon@exploregainesvillega.com

About Me