Lake-View Condominium
For Sale
$1,199,999
2447 NW Old Thompson Bridge Road, Gainesville, GA 30501
MULTI_FAMILY - Gainesville, GA
Property Size5,760 SF
Lot Size0.01 Acres
Price / SF$208.33
Days on Market139
Property Features for 2447 NW Old Thompson Bridge Road
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Basement
Parking
8
Subdivision
Hidden Cove
Elementary school
Enota
Middle school
Gainesville East
High school
Gainesville
Directions
From Downtown Gainesville, take Jesse Jewell Pkwy (US-129) toward Old Thompson Bridge Rd. Turn onto Old Thompson Bridge Rd (GA-60) and continue north. Property will be on the right near Hidden Cove Ct. Use GPS: 2439, 2443, 2447, 2451 Old Thompson Bridge Rd, Gainesville, GA 30501
Standard status
Active
APN
01097A000027
Lot size
0.01 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3866
HOA Fee
$8,640 Annually
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Floors in Building
3
Number of units
4
Building materials
Block
Listing Agency:
eXp Realty
(888) 959-9461
Listed By:
Cindy Laduke · License #386153
(678) 650-1425
Added: Mar 20
Changed: Jul 20
Last Checked: Aug 5 at 12:06AM
MLS# 10714727
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
This for-sale quadplex consists of four fully completed condominium units, all currently 100% occupied. The property was built in 2023 and features functional floorplans with each unit offering approximately 1,440 SF, 3 bedrooms, and 3.5 bathrooms. Current rental income is approximately $90,600 annually based on the current rent roll, with unit rents listed at $2,000, $1,750, $1,800, and $2,000 per month.
Located at 2447 NW Old Thompson Bridge Road in Gainesville, GA, the property is within walking distance to Holly Park and offers lake views from the condominium units. It is also described as being minutes from Lake Lanier and nearby Gainesville retail corridors, dining, medical facilities, and major employment centers.
Leases include renewal provisions that allow for potential rent increases of up to 40% upon tenant renewal, subject to market conditions and buyer verification. An estimated NOI and cap rate are provided in the remarks as approximately $80,436 and 6.24%, respectively, based on the current list price.
Located at 2447 NW Old Thompson Bridge Road in Gainesville, GA, the property is within walking distance to Holly Park and offers lake views from the condominium units. It is also described as being minutes from Lake Lanier and nearby Gainesville retail corridors, dining, medical facilities, and major employment centers.
Leases include renewal provisions that allow for potential rent increases of up to 40% upon tenant renewal, subject to market conditions and buyer verification. An estimated NOI and cap rate are provided in the remarks as approximately $80,436 and 6.24%, respectively, based on the current list price.
Key Highlights
- Income‑producing investment: 4 fully occupied Class A condominium units generating approximately $90,600 annually.
- Strong cash flow with growth potential: Estimated NOI of $80,436 and a 6.24% cap rate, with potential rent increases of up to 40% upon lease renewal.
- Modern construction and desirable features:** Built in 2024, each unit offers approximately 1,440 SF with 3 bedrooms and 3.5 bathrooms.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $94.0k | $16.32 |
| − Vacancy | −$10.6k | −$1.84 |
| EGI | $83.4k | $14.48 |
| − OpEx | −$25.0k | −$4.34 |
| NOI | $58.4k | $10.13 |
5,760 SF · lease $16.32/SF/yr · vacancy 11.30% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$833.8K
$729.6K – $972.8K
NOI $58,367 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$655.5K
$573.6K – $764.7K
NOI $45,884 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,917 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
Explore this area
Business Placement
Demographics for 30501, GA
29,779
Population
12,916
Households
2.3
Avg Household Size
33
Median Age
21%
College-Educated
71%
High-School Grad
21.9 sq mi
ZIP Area
1,360
Density / Sq Mi
$58,214
Median Household Income
$33,299
Median Earnings
$1,152
Median Rent
$249,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four fully completed, 100% occupied condominium units with lake views and modern 2023 construction.
Where is this quadplex located?
The property is located at 2447 NW Old Thompson Bridge Road Gainesville, GA.
What is the asking price?
The asking price for this property is $1,199,999.
What are key features of this property?
This property features: Income‑producing investment: 4 fully occupied Class A condominium units generating approximately $90,600 annually.; Strong cash flow with growth potential: Estimated NOI of $80,436 and a 6.24% cap rate, with potential rent increases of up to 40% upon lease renewal.; Modern construction and desirable features:** Built in 2024, each unit offers approximately 1,440 SF with 3 bedrooms and 3.5 bathrooms.
