| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 67th | Best |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 30 Allen Ave, Asheville, NC, 28803, US |
| Region / Metro | Asheville |
| Year of Construction | 1977 |
| Units | 48 |
| Transaction Date | 2003-01-02 |
| Transaction Price | $2,300,000 |
| Buyer | RCG SKYLAND LLC |
| Seller | DLT SKYLAND LLC |
30 Allen Ave, Asheville Value-Add Multifamily
Positioned in a high-cost ownership pocket of Asheville that sustains renter reliance, this 1977 asset offers value-add potential; according to WDSuite’s CRE market data, neighborhood renter concentration is elevated while occupancy has been softer, creating room for operational upside.
Located in Asheville’s suburban south, the area scores A+ overall at the neighborhood level and is competitive among Asheville neighborhoods (5 of 155). Dining and daily-needs access are a relative strength, with restaurants, cafes, and pharmacies performing above metro medians and landing in the upper national percentiles, while park access is limited—pointing to a convenience-oriented setting rather than recreation-led appeal.
Schools in the surrounding area average around 3.0 out of 5, suggesting solid but not standout education options. Median contract rents in the neighborhood trend in the upper national quartiles, and the rent-to-income ratio sits near 0.20, which implies manageable affordability pressure and supports retention and pricing discipline for well-managed assets.
The local housing stock skews newer than this property (average construction year 1994 across the neighborhood), making a 1977 vintage a candidate for targeted capital improvements to close amenity and efficiency gaps. That dynamic can be advantageous for value-add strategies if renovations are scoped to current renter preferences and energy systems.
Home values are elevated (top national percentiles), indicating a high-cost ownership market that tends to reinforce multifamily demand and lease stability. Neighborhood tenure data show a sizable renter-occupied share (mid-40s percent), signaling a deep tenant base for 1–2 bedroom formats common to assets with average unit sizes in this range. Within a 3-mile radius, population has grown and is projected to expand further, with households expected to increase meaningfully—supporting a larger tenant base and sustained demand for rental units, based on CRE market data from WDSuite.
Safety outcomes are mixed but improving. The neighborhood’s crime rank is 60 out of 155 Asheville neighborhoods—roughly middle of the metro—and its national standing sits modestly above average. Year over year, both property and violent offense rates have declined sharply, indicating a favorable trend rather than a static condition.
For investors, the takeaway is that current conditions are comparable to broader markets, with recent trendlines moving in a positive direction. Monitoring continued momentum and aligning security measures with resident expectations can support leasing and retention.
Nearby employment is diversified at the metro level, with accessible industrial and service roles that support workforce housing demand. Notable within commuting distance:
- Airgas Store — industrial gases & supplies (5.4 miles)
30 Allen Ave combines a 1977 vintage with strong location fundamentals and an investor-friendly ownership landscape. Elevated home values in the neighborhood help sustain renter reliance, while a sizable renter-occupied share supports depth of demand. Although neighborhood occupancy has been softer than metro leaders, household and population growth within a 3-mile radius point to a larger tenant base over the next several years. According to CRE market data from WDSuite, rents benchmark in higher national percentiles relative to incomes, suggesting room for disciplined revenue management when paired with targeted upgrades.
Given newer surrounding stock (average 1994), a focused value-add plan—unit interior refreshes, energy and system upgrades, and curb appeal—can enhance competitiveness versus comparable assets. Investors should underwrite to stabilization timelines that reflect local occupancy dynamics and the limited park access, but the combination of high-cost ownership and expanding 3-mile demand drivers positions renovations to translate into durable leasing.
- High-cost ownership market reinforces renter demand and pricing power
- 1977 vintage offers clear value-add and systems modernization upside
- 3-mile population and household growth expand the tenant base
- Amenities and schools are solid, supporting leasing for working households
- Risk: neighborhood occupancy runs softer than metro leaders—underwrite ramp to stabilization