Stabilized Multifamily Asset Near
For Sale
$1,149,900
2447 NW Old Thompson Bridge Road, Gainesville, GA 30501
Fully occupied Class A multifamily property in Gainesville, Georgia.
Property Size5,760 SF
Price / SF$199.64
Days on Market209
Property Features for 2447 NW Old Thompson Bridge Road
General Information
Standard status
Active
Size
5,760 SF
Property subtype
Quadruplex
Amenities
Central Air
Central
Dock, Water Front, Cable Available, Electricity Available, Phone Available, Sewer Available, Underground Utilities, Water Available, Composition
Building Details
Year Built
2024
Listing Agency:
EXP Realty
Listed By:
First MLS
(888) 959-9461
Source:
Kw
Added: Mar 20
Changed: Oct 13
Last Checked: Oct 12 at 7:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty
Investment Insights
Based on property information with market context.
This is a fully stabilized Class A multifamily property built in 2023. It is 100% occupied and located in the Lake Lanier/Gainesville corridor of North Georgia. The property consists of 4 condominium units, each offering approximately 1,440 square feet with 3 bedrooms and 3.5 bathrooms. The property is designed for tenant demand and low-maintenance ownership. Current rents range from $1,750 to $2,000 per month, generating approximately $90,600 in annual gross income based on the current rent roll. Leases include provisions allowing for potential rent increases upon renewal. The property is within walking distance to Holly Park and offers lake views from the condominium units. It is located minutes from Lake Lanier, Gainesville retail corridors, dining, medical facilities, downtown Gainesville, and major employment centers. The property offers immediate cash flow, modern construction, and strong rental demand in a growing market. The property size is 5,760 square feet.
Key Highlights
- Fully stabilized, 100% occupied Class A multifamily asset built in 2023
- Located in the highly desirable Lake Lanier / Gainesville corridor of North Georgia
- Generates approximately $90,600 in annual gross income with an estimated 6.24% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,367
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,167,340
$1.2M
Cap Rate 7%
$833,814
$833.8K
Cap Rate 9%
$648,522
$648.5K
Market Conditions
NOI Build-Up for 5,760 SF
Gross rent
$94.0K $16.32/SF
− Vacancy
−$10.6K −$1.84/SF
EGI
$83.4K $14.48/SF
− OpEx
−$25.0K −$4.34/SF
NOI
$58.4K $10.13/SF
Area
Hall County, GA
Vacancy
11.30%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,167,340
Cap Rate 7%
$833,814
Cap Rate 9%
$648,522
Alternative Uses
Best Use
Multifamily LT 5
$833.8K
$729.6K – $972.8K
NOI $58,367 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$655.5K
$573.6K – $764.7K
NOI $45,884 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,917 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied Class A multifamily property in Gainesville, Georgia.
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 $1,149,900.
What are key features of this property?
This property features: Fully stabilized, 100% occupied Class A multifamily asset built in 2023; Located in the highly desirable Lake Lanier / Gainesville corridor of North Georgia; Generates approximately $90,600 in annual gross income with an estimated 6.24% cap rate
