UPDATED:
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Subdivision Plantation Woods
MLS Listing ID 7745349
Construction Status Resale
HOA Y/N No
Year Built 1979
Annual Tax Amount $3,395
Tax Year 2024
Lot Size 0.450 Acres
Acres 0.45
Property Sub-Type Other
Source First Multiple Listing Service
Property Description
355 Shannon Way is a turnkey home in Lawrenceville, designed for investors ready to scale returns. Completely vacant and recently updated, it's positioned to capitalize immediately on high-demand co-living or PadSplit strategies, with the ability to convert the garage into two additional bedrooms for a total of 7 income-producing rooms.
The 7-Bedroom Pro Forma:
Traditional 5BR Rent: $2,700/mo ($32,400/yr)
PadSplit with 7 Bedrooms: $7,000/mo ($84,000/yr)
The Investor Upside:
The 7-bedroom co-living model delivers $51,600+ in additional annual income compared to traditional leasing, nearly triple the gross revenue potential.
Why 355 Shannon Way Stands Out:
Immediate Start: Vacant and move-in ready. Begin renting within days.
Built to Last: Hardwood floors, fresh carpet, and cement siding reduce maintenance and turnover costs.
Flexible Layout: 5 existing bedrooms + 3 full baths, plus a garage easily convertible into 2 additional bedrooms, ideal for maximizing occupancy in a shared housing model.
Expansion Ready: Finished basement, multiple living areas, and a 0.45-acre lot with a private deck and no HOA restrictions.
This isn't just another rental. It's a revenue-engine property structured for today's high-yield housing models, backed by a 20% cap rate and immediate cash flow potential.
Location
State GA
County Gwinnett
Area Plantation Woods
Lake Name None
Interior
Heating Central
Cooling Central Air
Window Features None
Exterior
Parking Features Garage
Fence None
Community Features Near Schools, Near Shopping
Utilities Available Electricity Available, Water Available
Waterfront Description None
View Y/N Yes
View Trees/Woods
Roof Type Composition
Accessibility Accessible Bedroom, Accessible Doors
Handicap Access Accessible Bedroom, Accessible Doors
Private Pool false
Building
Lot Description Other
Story One
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type Cement Siding
Construction Status Resale
Schools
Elementary Schools Benefield
Middle Schools Sweetwater
High Schools Berkmar
Others
Senior Community no
Nearby Locations
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Devita Maxwell
Broker Associate | License ID: 239666
Broker Associate License ID: 239666