2447 NW Old Thompson Bridge Rd, Gainesville, GA 30501

Garage
Yes

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Listed byeXp Realty
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Overview

Exceptional Lake Lanier income-producing investment opportunity in Gainesville, GA featuring 4 fully completed, 100% occupied Class A condominium units with strong in-place cash flow and built-in rent growth potential. Current rental income is approximately $90,600 annually ($7,550/month) based on the current rent roll, with an estimated NOI of approximately $80,436 and an estimated 6.24% cap rate at the current list price of $1,290,000. Current unit rents are $2,000, $1,750, $1,800, and $2,000/month. Leases include renewal provisions allowing for potential rent increases of up to 40%, providing additional upside potential as tenants renew, subject to market conditions and buyer verification. Each unit offers approximately 1,440 SF with 3 bedrooms and 3.5 bathrooms, featuring modern construction (2023), functional floorplans, and low-maintenance ownership appeal for long-term investors. The property is within walking distance to Holly Park and offers lake views from the condominium units, enhancing tenant appeal and long-term rental demand. Conveniently located minutes from Lake Lanier, Gainesville retail corridors, dining, medical facilities, and major employment centers, this property offers a rare combination of stabilized income, strong rental demand, and future rent growth potential in one of North Georgia's fastest-growing lake-area markets.

Location

Full feature list

Basic info

Property type
Multi-family
Lot size (acres)
0.01
Year built
2024

Interior features

Basement
Yes, Finished

Exterior features

Horse amenities
Stable

Garage and parking

Garage parking spaces
8

Utilities

Heating
Central
Cooling
Central Air
Sewer
Public Sewer
Water
Public Water

Estimated monthly costs

HOA Fees
$720
Insurance
$497

Taxes

Tax Annual Amount (2025)
$3,866

Public schools

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Sourced from: Georgia MLS MLS®#: 10714727 Last checked:

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