435 Sqft Lot
435 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Hidden Cove
MLS Listing ID 7738667
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 Quadruplex
Source First Multiple Listing Service
Property Description
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.
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 Parking Lot, Paved, Varies by Unit
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 8
Private Pool false
Building
Lot Description Wooded
Story Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Structure Type Block,HardiPlank Type
Construction Status Resale
Schools
Elementary Schools Enota Multiple Intelligences Academy
Middle Schools Gainesville East
High Schools Gainesville
Others
Senior Community no
Tax ID 01097A000027
Acceptable Financing 1031 Exchange, Cash
Listing Terms 1031 Exchange, Cash
