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 four completed units were built in 2023 and provide approximately 5,760 total SF, with each residence offering approximately 1,440 SF, 3 bedrooms and 3.5 bathrooms. Current rental income totals approximately $7,550 per month / $90,600 annually based on the existing rent roll.
The development portion includes 5 existing basement slabs with utilities in place or stubbed to the sites. Seller represents the development sites as permitted and ready to build, with civil engineering plans and supporting development documentation available for buyer review and verification.
This offering provides an opportunity to acquire immediate rental income today with the potential to expand from 4 completed units to 9 total units.
The completed units offer lake views and are within walking distance of Holly Park and Lake Lanier access, with convenient access to Downtown Gainesville, shopping, dining, medical facilities and major employment centers.
Ideal for multifamily investors, builders, developers, 1031 Exchange buyers, portfolio investors and buy-and-hold investors seeking income-producing real estate with development upside near Lake Lanier. Complete package offered at $1,499,900.
Updated leases, rent roll, property-management financials, HOA information, permits, plans and development documentation available upon request. Buyer to independently verify permit status, utilities, governmental approvals, construction requirements and all development information during due diligence.
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
Special Circumstances None
Nearby School & Business
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