Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1230 Hanover Pl Alpharetta, GA 30009

    Sponsored
    For Sale
    $559,000

    MULTI_FAMILY - Alpharetta, GA

    Lot size:
    0.75 Acres
    Days on Market:
    28
    Last Refresh:
    Jan 23 at 1:06 am

    Property Features for 1230 Hanover Pl

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Double Pane Windows, Insulated Windows
    APN
    12 237105910155
    Parking features
    Driveway
    Lot size
    0.75 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1983
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Vinyl
    Building materials
    Cedar
    Roof type
    Shingle

    We can help!

    Listing Contact
    James McGeehan

    Virtual Properties Realty Biz (770) 495-5050 [email protected]

    Listing agent James McGeehan (404) 290-9982

    Listing date Dec 27, 2025

    MLS# 7617785 Listing URL

    Copyright © 2026 First Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Remodeled Duplex with Rental History

    This Alpharetta duplex presents an excellent rental property opportunity, boasting a long history of consistent rental income. Both units have been completely remodeled, requiring no additional work. Updates throughout the property ensure a move-in-ready condition. The upper unit is currently vacant, while the lower unit is occupied. The property features a large yard with two built-in storage units. The HVAC system is less than 4 years old, and the roof is less than 2 years old. New flooring is scheduled for installation in August 2025. Each unit is approximately 975 square feet, totaling 1950 square feet for both units. The lot size is 0.75 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Realty agency Dental Office Spa & Massage Hair Salon Nail Salon Daycare Center Clothing Store Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Alpharetta
    County
    Fulton
    State
    Georgia
    Longitude
    -84.317961
    Latitude
    34.045895

    Nearby Similar for Sale

    • $685,000
      0.51 Acres

      Alpharetta Turnkey Investment Opportunity

      Prime Alpharetta property with immediate cash flow and proven rental history.
      1250 Rosewood Dr, Alpharetta, GA 30005
      View Details
    • $2,500,000
      7,275 SF

      Alpharetta Commercial Building For Sale

      Well-maintained commercial building in Alpharetta, suitable for medical or office use.
      8480 Holcomb Bridge Rd, Alpharetta, GA 30022
      View Details
    • New
      $339,999
      0.03 Acres

      Alpharetta Luxury Condo Near Avalon

      Updated 2BR/2.5BA condo near Avalon and Downtown Alpharetta.
      2914 Webb Bridge Rd, Alpharetta, GA 30009
      View Details
    • New
      $399,000
      1,134 SF

      Downtown Alpharetta Office Condo

      Modern 1,134 SF office condo in downtown Alpharetta, GA.
      1100 Powers Pl, Alpharetta, GA 30009
      View Details
    • $457,000
      0.03 Acres

      Modern Office in Historic Alpharetta

      Single-story office condo in Historic Downtown Alpharetta for sale.
      1100 Powers Pl, Alpharetta, GA 30009
      View Details
    • $1,200,000
      0.25 Acres

      Alpharetta Quadruplex Investment Opportunity

      Four townhome-style units in Alpharetta, great for rental income.
      1020 Dassow Ct, Alpharetta, GA 30009
      View Details
    • $1,200,000
      0.24 Acres

      Alpharetta Quadruplex Investment Opportunity

      Four townhome-style units in Alpharetta, great for rental income.
      1020 Dassow Ct, Alpharetta, GA 30009
      View Details
    • $339,999
      0.03 Acres

      Luxury Apartment Near Avalon

      Updated 2BR/2.5BA near Avalon and Downtown Alpharetta. No rental cap.
      2914 Webb Bridge Rd, Alpharetta, GA 30009
      View Details
    • $9,500,000
      44,716 SF

      Alpharetta Assisted Living Facility For Sale

      Turnkey assisted living facility in Johns Creek/Alpharetta area.
      5690 State Bridge Rd, Alpharetta, GA 30022
      View Details
    • $9,500,000
      1.92 Acres

      Alpharetta Assisted Living Facility

      Turnkey assisted living facility in Alpharetta, GA for sale.
      5690 State Bridge Rd, Alpharetta, GA 30022
      View Details
    • $9,500,000
      1.92 Acres

      Alpharetta Assisted Living Facility

      Turnkey assisted living facility in Alpharetta's Johns Creek area.
      5690 State Bridge Rd, Alpharetta, GA 30022
      View Details
    • $5,950,000
      21,000 SF

      Alpharetta Commercial Building on Corner

      21,000 SF building on 2.66 acres, zoned industrial/commercial.
      5000 Mcginnis Ferry Rd, Alpharetta, GA 30005
      View Details

    FAQs

    What type of property is this?
    Duplex - Updated duplex in Alpharetta with steady rental income history.
    Where is this duplex located?
    The property is located at 1230 Hanover Pl Alpharetta, GA.
    What is the asking price?
    The asking price for this property is $559,000.
    What are key features of this property?
    This property features: - Completely remodeled units requiring no additional work.; - Excellent rental property with a long history of steady rental income.; - New roof (less than 2 years old) and HVAC (less than 4 years old).
    (770) 495-5050
    Request Owner's contact information
    1230 Hanover Pl Alpharetta, GA 30009
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1230 Hanover Pl
    Alpharetta, GA 30009
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1230 Hanover Pl Alpharetta, GA 30009
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    James McGeehan
    (770) 495-5050
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.