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    240 Varnes Ln Lakemont, GA 30552

    For Sale
    $1,600,000

    MULTI_FAMILY - Lakemont, GA

    Lot size:
    10.00 Acres
    Days on Market:
    417
    Last Refresh:
    Dec 5 at 2:06 pm

    Property Features for 240 Varnes Ln

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement
    APN
    046B 005
    Lot size
    10.00 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Central
    Cooling system
    Central Air, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1986
    Floors in Building
    2
    Number of units
    10
    Building materials
    Block, Brick, Vinyl Siding, Wood Siding

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

    Listing agent Syed Firoz (770) 495-5050

    Listing date Oct 15, 2024

    MLS# 10387152 Listing URL

    Copyright © 2025 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Lakemont Multifamily Investment Opportunity

    This multifamily property in Lakemont, Georgia, features 10 units across 7 buildings, including a triplex, a duplex, two single-wide mobile homes, two studio cottages (one with a loft), and a 2/1 cabin. All units are currently leased, generating a total income of $10,500. The property spans 10 acres and includes an additional 6 acres, offering potential for further development. A community well serves all units. Located off Highway 441, the property is approximately 5 miles from Clayton, Georgia. The additional 6 acres, designated as Tract 6, features a noisy branch with mountain laurel, providing a private area for hiking and relaxation. The property is zoned R3, allowing for additional development. The owner prefers showings to occur with an acceptable offer.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Wholesale Shop Hotel & Motel Gym & Fitness Department Store Skin Care Clinic Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakemont
    County
    Rabun
    State
    Georgia
    Longitude
    -83.409824
    Latitude
    34.788738

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    FAQs

    What type of property is this?
    Apartment building - Multifamily property with 10 units on 10 acres.
    Where is this apartment building located?
    The property is located at 240 Varnes Ln Lakemont, GA.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: - Multi-family zoned property with 10 units across 7 buildings, **providing immediate rental income**.; - **Current rental income of $10,500**, offering a potential for the property to pay for itself.; - Total of 10 acres (4 acres + 6 additional acres) allows for future expansion and development.
    (770) 495-5050
    Request Owner's contact information
    240 Varnes Ln Lakemont, GA 30552
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    Lakemont, GA 30552
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    Realmo Value Estimation

    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.

    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.

    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
    240 Varnes Ln Lakemont, GA 30552
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