435 Sqft Lot
435 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Subdivision Hidden Cove
MLS Listing ID 7738614
Construction Status Resale
HOA Y/N No
Year Built 2024
Annual Tax Amount $3,866
Tax Year 2025
Lot Size 435 Sqft
Acres 0.01
Property Sub-Type Other
Source First Multiple Listing Service
Property Description
The offering includes 4 fully completed, 100% occupied condominium units generating approximately $99,000 annually ($8,250/month) with a current NOI of $80,436. One unit has recently been re-leased at $2,500/month, supporting continued rent growth.
In addition, the property includes 5 shovel-ready Class A condominium units with basement slabs poured, utilities stubbed, and permits approved, allowing for rapid completion within approximately 90 - 120 days.
The new units may be configured as:
• End units: 4BR / 3.5BA
• Interior units: 3BR / 3.5BA + bonus room (2,000 SF)
Upon completion of all 9 units, projected income increases significantly, creating a strong value-add and stabilization play in a high-demand rental market near Lake Lanier.
Scheduled $800 rent increases per existing unit beginning July/August further enhance income performance, with projected stabilized NOI exceeding $117,000+.
Located minutes from Lake Lanier, Gainesville retail, and major employment corridors, this asset offers a rare opportunity to acquire in-place income with near-term scalable growth and minimal development risk.
Location
State GA
County Hall
Area Hidden Cove
Lake Name Lanier
Interior
Heating Central
Cooling Central Air
Flooring Hardwood
Window Features Double Pane Windows
Exterior
Parking Features Detached, Level Driveway, Parking Lot
Fence None
Community Features Lake, Near Shopping, Near Trails/Greenway
Utilities Available Cable Available, Electricity Available, Phone Available, Sewer Available, Underground Utilities, Water Available
Waterfront Description Lake Front
View Y/N Yes
View Lake
Roof Type Composition
Accessibility None
Handicap Access None
Total Parking Spaces 9
Private Pool false
Building
Lot Description Wooded
Story Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Structure Type Cement Siding,Concrete
Construction Status Resale
Schools
Elementary Schools Enota Multiple Intelligences Academy
Middle Schools Gainesville East
High Schools Gainesville
Others
Senior Community no
Tax ID 01097A000026
Acceptable Financing 1031 Exchange, Cash
Listing Terms 1031 Exchange, Cash
