Class A Condominium-Style Multifamily
For Sale
$590,000
2486 Hidden Cove Court, Gainesville, GA 30501
A 15-unit Class A condominium portfolio with four fully occupied units and eleven approved for completion under an HOA.
Property Size21,760 SF
Price / SF$27.11
Days on Market179
Property Features for 2486 Hidden Cove Court
General Information
Standard status
Active
Size
21,760 SF
Property subtype
Land / Residential Lot
Additional Details
Cap Rate
7.49%
Multifamily Units
15
Taxes and HOA fees
Annual Taxes
$1,500
Amenities
Lake
Building Details
Year Built
2023
Listing Agency:
eXp Realty
Listed By:
Cindy LaDuke · License #386153
(888) 959-9461
Source:
Compass
Added: Mar 17
Changed: Sep 10
Last Checked: Sep 11 at 10:45AM
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 offering is a 15-unit Class A condominium portfolio presented across 15 separate addresses at 2486 Hidden Cove Court in Gainesville, Georgia. Four units are fully completed, with 100% occupancy and current income production. These stabilized units include contracted rent increases of $800 per unit scheduled for July and August, and are referenced as supporting a 7.49% cap rate when combined with seller-provided income reserves.
The remaining eleven units are approved for completion, with builders, engineers, and permits already in place. Five additional units have basement slabs poured and are described as shovel-ready. Planned configurations include end units built as 4 bedrooms / 3.5 bathrooms and interior units built as 3 bedrooms / 3.5 bathrooms with bonus rooms, with rentable areas described as approximately 2,000 square feet per unit. Six other units are designed as master-on-main homes, configurable between approximately 1,440 and 2,000 square feet per unit, and each is described as featuring Lake Lanier views.
An established HOA is in place, with recently reduced dues noted as improving operating expenses. The portfolio is presented as all Class A construction, with total rentable square feet described as approximately 21,760 upon full build-out.
The remaining eleven units are approved for completion, with builders, engineers, and permits already in place. Five additional units have basement slabs poured and are described as shovel-ready. Planned configurations include end units built as 4 bedrooms / 3.5 bathrooms and interior units built as 3 bedrooms / 3.5 bathrooms with bonus rooms, with rentable areas described as approximately 2,000 square feet per unit. Six other units are designed as master-on-main homes, configurable between approximately 1,440 and 2,000 square feet per unit, and each is described as featuring Lake Lanier views.
An established HOA is in place, with recently reduced dues noted as improving operating expenses. The portfolio is presented as all Class A construction, with total rentable square feet described as approximately 21,760 upon full build-out.
Key Highlights
- 15‑unit Class A condominium portfolio (15 separate addresses) built in 2023 in Gainesville, GA (Lake Lanier–adjacent).
- 4 fully completed units are 100% occupied and producing income, with contracted $800 per unit rent increases scheduled for July and August.
- Stabilized income includes seller‑provided income reserves available for 2 to 3 years to support early cash flow.
Property Analytics
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Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
107
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
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Frequently Asked Questions
What type of property is this?
Apartment building - A 15-unit Class A condominium portfolio with four fully occupied units and eleven approved for completion under an HOA.
Where is this apartment building located?
The property is located at 2486 Hidden Cove Court Gainesville, GA.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: 15‑unit Class A condominium portfolio (15 separate addresses) built in 2023 in Gainesville, GA (Lake Lanier–adjacent).; 4 fully completed units are 100% occupied and producing income, with contracted $800 per unit rent increases scheduled for July and August.; Stabilized income includes seller‑provided income reserves available for 2 to 3 years to support early cash flow.
