| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 76th | Best |
| Amenities | 30th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 64 Beverly Rd, Asheville, NC, 28805, US |
| Region / Metro | Asheville |
| Year of Construction | 1986 |
| Units | 34 |
| Transaction Date | 2013-08-28 |
| Transaction Price | $985,500 |
| Buyer | MARDEL HOLDINGS LLC |
| Seller | --- |
64 Beverly Rd, Asheville NC Multifamily Opportunity
Neighborhood fundamentals point to durable renter demand supported by a high-cost ownership market and an above-median education profile, according to WDSuite s CRE market data.
The property sits in a suburban Asheville neighborhood that ranks within the top quartile among 155 metro neighborhoods on overall quality (A- rating), per WDSuite. Local livability is anchored by average-rated public schools and convenient access to daily needs like pharmacies and childcare, while destination amenities (parks, cafes, and grocery options) are thinner within the immediate area compared with denser parts of the metro.
On the housing side, the neighborhood s occupancy trends have recently softened, though levels remain above the metro median, signaling continued leasing depth for professionally managed assets. Median contract rents in the neighborhood sit around the middle of national comparisons, and rent-to-income is favorable for operators, supporting retention and measured pricing power rather than outsized rent growth.
Ownership costs are elevated versus national norms (home values score in a high national percentile), which typically sustains renter reliance on multifamily housing. The share of renter-occupied housing units is in the mid-30% range, indicating a meaningful tenant base without overwhelming exposure. Notably, the neighborhood scores very high nationally on educational attainment, a profile that often correlates with steady household incomes and lower turnover risk for well-managed assets.
Within a 3-mile radius, demographics show modest population growth in recent years, a larger average household size, and a projected increase in household counts over the next five years. These factors point to a gradually expanding renter pool that can support occupancy stability. According to CRE market data from WDSuite, forward-looking rent benchmarks in the 3-mile area indicate continued, manageable rent advancement consistent with a healthy but not overheated market.
Comparatively, the neighborhood reads as safer than the national median, with trends over the last year pointing to notable declines in both violent and property offenses, based on WDSuite s CRE data. That said, performance sits closer to the middle of the pack within the Asheville metro, so investors should underwrite to standard security measures and routine property hardening rather than assume best-in-metro conditions.
In short, the area s safety profile is competitive nationally and improving on a year-over-year basis, while remaining roughly average relative to other Asheville neighborhoods. This balance typically supports stable tenancy and leasing, without requiring extraordinary operating assumptions.
Nearby employment is anchored by a corporate office presence that supports everyday commute convenience and helps underpin renter demand for workforce-oriented units. The list below reflects the closest named employer.
- Airgas corporate office (2.5 miles)
Built in 1986, the asset is slightly newer than the neighborhood average vintage, which can translate to a competitive position against older stock while still offering practical value-add through common-area refreshes, systems updates, and light unit renovations. Neighborhood metrics indicate a solid tenant base: elevated home values reinforce reliance on rentals, rent-to-income levels suggest manageable affordability pressure for residents, and educational attainment is strong. According to CRE market data from WDSuite, neighborhood occupancy sits above the metro median despite recent softening, implying that well-executed operations can sustain stable cash flow.
Within a 3-mile radius, modest population growth and an expected increase in household counts point to gradual renter pool expansion. Local amenities are serviceable for daily needs but limited for lifestyle destinations, so underwriting should assume steady rather than premium rent growth, with performance driven by management, unit efficiency, and positioning.
- 1986 vintage offers light value-add and modernization potential versus older neighborhood stock.
- Elevated ownership costs in the area help sustain multifamily demand and lease retention.
- Above-metro-median neighborhood occupancy supports cash flow stability, per WDSuite.
- 3-mile demographics point to gradual renter pool expansion, aiding long-term leasing.
- Risk: recent occupancy softening and an amenity-light micro-location argue for conservative rent growth assumptions.