Renovated Nine-Unit Apartment
For Sale
$2,400,000
535 Forrest Ave, Gainesville, GA 30501
Fully occupied residential property with updated interiors, stainless steel appliances, varied floor plans, and on-site parking.
Property Size10,800 SF
Lot Size0.63 Acres
Price / SF$222.22
Days on Market94
Property Features for 535 Forrest Ave
General Information
Standard status
Active
Size
10,800 SF
Lot size
0.63 Acres
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Average Monthly Rent
$1,750
Multifamily Units
9
Building Details
Year Built
1978
Year Renovated
2016
Listing Agency:
Resource Brokers, LLC.
Listed By:
LESLIE WHITE · License #310047
(678) 343-2211
Source:
Brockteam
Added: Jul 13
Changed: Sep 12
Last Checked: Oct 7 at 2:26PM
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 Resource Brokers, LLC.
Investment Insights
Based on property information with market context.
The Bradford is a nine-unit apartment property totaling approximately 10,800 square feet. The residential layout includes a combination of two- and three-bedroom units, with interiors updated during a 2016 renovation. Stainless steel appliances and refreshed finishes are incorporated throughout, while on-site parking supports day-to-day resident use. The building was originally constructed in 1978.
Set on 0.63 acres at 535 Forrest Ave in Gainesville, the property is near downtown Gainesville, employment centers, retail, dining, and schools. Current occupancy is 100%, providing an established operating profile. The unit mix, interior improvements, and parking create a practical multifamily configuration for continued residential use.
Set on 0.63 acres at 535 Forrest Ave in Gainesville, the property is near downtown Gainesville, employment centers, retail, dining, and schools. Current occupancy is 100%, providing an established operating profile. The unit mix, interior improvements, and parking create a practical multifamily configuration for continued residential use.
Key Highlights
- Nine residential units with two- and three‑bedroom floor plans
- Approximately 10,800 square feet on a 0.63‑acre site
- 100% occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,033
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,720,660
$1.7M
Cap Rate 7%
$1,229,043
$1.2M
Cap Rate 9%
$955,922
$955.9K
Market Conditions
NOI Build-Up for 10,800 SF
Gross rent
$177.6K $16.44/SF
− Vacancy
−$21.1K −$1.96/SF
EGI
$156.4K $14.48/SF
− OpEx
−$70.4K −$6.52/SF
NOI
$86.0K $7.97/SF
Area
Hall County, GA
Vacancy
11.90%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,720,660
Cap Rate 7%
$1,229,043
Cap Rate 9%
$955,922
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.08M – $1.43M
NOI $86,033 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.02M
$2.65M – $3.53M
NOI $211,719 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
9
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,936
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied residential property with updated interiors, stainless steel appliances, varied floor plans, and on-site parking.
Where is this apartment building located?
The property is located at 535 Forrest Ave Gainesville, GA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Nine residential units with two- and three‑bedroom floor plans; Approximately 10,800 square feet on a 0.63‑acre site; 100% occupancy
