2447 NW Old Thompson Bridge Road

Description

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 upside. Offered at $1,499,900, the property generates approximately $99,000 in annual gross income ($8,250/month) with a net operating income of $80,436 and an estimated 5.36% cap rate. Unit rents are currently $2,000, $1,750, $2,000, and $2,500 (new lease recently executed), reflecting continued rent growth within the community. Seller will cover HOA dues from closing through January 1, 2027 ($8,640/year), reducing operating expenses and increasing the effective return during the initial ownership period. Additional upside exists as units trend toward market rents near $2,500/month, projecting total income of approximately $120,000 annually and a potential NOI exceeding $100,000, increasing cap rate into the mid-6% range. Each unit offers 3 bedrooms, 3.5 bathrooms, approximately 1,440 SF, built in 2023, with modern finishes and layouts designed for long-term tenant demand. Located minutes from Lake Lanier, Gainesville retail corridors, and major employment centers, this property offers a rare combination of stable income, reduced operating expenses, and future rent growth potential.