Stabilized Multifamily Asset Near
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2447 Old Thompson Bridge Road, Gainesville, GA 30501
Fully occupied Class A multifamily property in Gainesville, Georgia.
Property Size5,760 SF
Price / SF$223.96
Days on Market80
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
Changed: Jul 10
Last Checked: Jul 29 at 9:01AM
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 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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
75
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 - 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
