Stabilized Multifamily Asset Near
2447 Old Thompson Bridge Road Gainesville, GA 30501
2447 Old Thompson Bridge Road, Gainesville, GA, 30501
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For Sale
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Fully occupied Class A multifamily property in Gainesville, Georgia.
Property Size5,760 SF
Price / SF$223.96
Days on Market67
Property Features for 2447 Old Thompson Bridge Road
General Information
- Standard status
- Active
- Size
- 5,760 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2023
Listing Agency
EXP Realty
Listed by
Cindy LaDuke · License #386153
Source
Crexi
Added: May 12 Checked: Jul 17 at 2:19 pm
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
Local 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 4.52%
Second Best
Apartment 5plus
$655.5K
$573.6K – $764.7K
NOI $45,884 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,917 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
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 Old Thompson Bridge Road Gainesville, GA.
What is the asking price?
The asking price for this property is $1,290,000.
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
