UPDATED:
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 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.
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
NEARBY SCHOOL & BUSINESS
2801 Washington Rd., Ste. 188, Augusta, Ga, 30909, United States