2486 Hidden Cove CT Gainesville, GA 30501
UPDATED:
Key Details
Property Type Commercial
Sub Type Condominium
Listing Status Active
Purchase Type For Sale
Subdivision No Subdivision
MLS Listing ID 7709389
Construction Status Resale
HOA Y/N No
Year Built 2023
Annual Tax Amount $1,500
Tax Year 2025
Lot Size 1.400 Acres
Acres 1.4
Property Sub-Type Condominium
Source First Multiple Listing Service
Property Description
The portfolio includes four (4) fully completed, Class A condominium units that are 100% occupied and currently producing income. These units are stabilized and feature contracted rent increases of $800 per unit scheduled for July and August, supporting a 7.49% cap rate when combined with seller-provided income reserves. Seller reserves are available for two to three years, enhancing early cash flow and reducing investor risk.
In addition to the stabilized units, the property includes eleven (11) additional units approved for completion, with builders, engineers, and permits already in place to allow for a smooth and efficient build-out process.
• Five (5) units have basement slabs poured and are shovel-ready
– End units may be built as 4 bedrooms / 3.5 bathrooms
– Interior units may be built as 3 bedrooms / 3.5 bathrooms with bonus rooms
– These floorplans expand rentable area to approximately 2,000 square feet per unit
• Six (6) additional units are designed as master-on-main homes, offering flexibility in floorplan selection
– Configurable between approximately 1,440 to 2,000 square feet per unit
– All six units feature Lake Lanier views, a highly desirable and limited product type in this submarket
Upon full build-out, the portfolio offers approximately 21,760 total rentable square feet, all Class A construction. The community benefits from an established HOA with recently reduced dues, improving operating expenses and long-term NOI predictability.
This offering provides a unique combination of immediate stabilized income, new-construction upside, lake-view product, and near-zero entitlement risk, all within close proximity to Lake Lanier, parks, shopping, and major commuter routes.
Ideal for investors seeking scale, flexibility, and long-term appreciation in one of Hall County's most desirable corridors.
Location
State GA
County Hall
Zoning PUD
Lake Name Lanier
Rooms
Other Rooms None
Basement Partial, Walk-Out Access, Daylight
Interior
Interior Features Restrooms, Living Space Available
Heating Central
Cooling Central Air
Flooring Luxury Vinyl, Ceramic Tile, Vinyl, Tile
Equipment None
Window Features ENERGY STAR Qualified Windows
Exterior
Parking Features Parking Lot
Fence None
Utilities Available Cable Available, Electricity Available, Phone Available, Sewer Available, Underground Utilities, Water Available
Waterfront Description Beach Front
View Y/N Yes
View Lake
Roof Type Other
Street Surface Asphalt
Accessibility None
Handicap Access None
Total Parking Spaces 18
Private Pool false
Building
Lot Description Other, Corner Lot
Story Three Or More
Foundation Block
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Structure Type Block,HardiPlank Type
Construction Status Resale
Others
Senior Community no
Tax ID 01097A000018
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
NEARBY SCHOOL & BUSINESS
- 6
Riverbend Elementary School
Public | KG - 5
- 5
Centennial Arts Academy
Public | KG - 5
- 5
Enota Multiple Intelligences Academy
Public | KG - 5
- 5
New Holland Knowledge Academy
Public | KG - 5
- 4
Fair Street School
Public | KG - 5
- 5
Gainesville Middle School
Public | 6 - 8
- 1
The Academy at Wood's Mill
Public | 7 - 12
- 6
Chestatee High School
Public | 9 - 12
- 5
Gainesville High School
Public | 9 - 12
- 0
Center Point
Private | 9 - 12
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