2451 NW Old Thompson Bridge Road

Description

Exceptional Lake Lanier Class A multifamily and development opportunity in Gainesville, GA combining stabilized income with immediate construction upside. The offering includes 4 fully built, Class A condominium units that are 100% occupied, generating approximately $90,600 in annual gross income ($7,550/month) based on the current rent roll. All units feature modern construction (2023), 3 bedrooms, 3.5 bathrooms, and approximately 1,440 SF each. Current rents range from $1,750 to $2,000/month, with one unit at $1,800, reflecting strong occupancy and consistent tenant demand in the Lake Lanier corridor. The property is ideally located within walking distance to Holly Park and offers lake views from the condominium units, enhancing tenant appeal and long-term rental demand. In addition to the stabilized units, the property includes 5 slab-ready units (basement foundations already in place), offering immediate vertical construction potential. Utilities are stubbed, and the site has been previously permitted, allowing a buyer to move forward with development upon permit renewal. Proposed unit configurations for the remaining build-out include: End Units: 4BR / 3.5BA Interior Units: 3BR / 3.5BA + bonus room (~2,000 SF) Leases indicate potential rent increases of up to 40% upon renewal, supporting a strong value-add strategy and future income growth (subject to market conditions and buyer verification). This is a rare hybrid investment offering: Immediate in-place cash flow Expansion through 5 additional units Strong rental demand driven by proximity to Lake Lanier and outdoor amenities Located minutes from Lake Lanier, Gainesville retail, dining, and major employment corridors, the property is ideally positioned for both rental stability and future development upside. All updated leases, rent roll, and supporting documentation are available and attached for review.