2447 NW Old Thompson Bridge RD Gainesville, GA 30501
435 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Hidden Cove
MLS Listing ID 7738667
Construction Status Resale
HOA Y/N No
Year Built 2024
Annual Tax Amount $3,866
Tax Year 2025
Lot Size 435 Sqft
Acres 0.01
Property Sub-Type Quadruplex
Source First Multiple Listing Service
Property Description
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
Area Hidden Cove
Lake Name Lanier
Interior
Heating Central
Cooling Central Air
Flooring Hardwood
Window Features Double Pane Windows
Exterior
Parking Features Parking Lot, Paved, Varies by Unit
Fence None
Community Features Lake, Near Shopping, Near Trails/Greenway
Utilities Available Cable Available, Electricity Available, Phone Available, Sewer Available, Underground Utilities, Water Available
Waterfront Description Lake Front
View Y/N Yes
View Lake
Roof Type Composition
Accessibility None
Handicap Access None
Total Parking Spaces 8
Private Pool false
Building
Lot Description Wooded
Story Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Structure Type Block,HardiPlank Type
Construction Status Resale
Schools
Elementary Schools Enota Multiple Intelligences Academy
Middle Schools Gainesville East
High Schools Gainesville
Others
Senior Community no
Tax ID 01097A000027
Acceptable Financing 1031 Exchange, Cash
Listing Terms 1031 Exchange, Cash
Nearby Locations
- The Flying Realtor® | eXp Realty
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