| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Fair |
| Demographics | 60th | Good |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 108 N Blue Ridge Rd, Black Mountain, NC, 28711, US |
| Region / Metro | Black Mountain |
| Year of Construction | 1982 |
| Units | 79 |
| Transaction Date | 2014-10-01 |
| Transaction Price | $697,000 |
| Buyer | BLUE RIDGE APRNTMENTS I LP |
| Seller | CAROLINA HOUSING DEVELOPERS OF BLACK MON |
108 N Blue Ridge Rd Black Mountain Multifamily Investment
Positioned in a suburban pocket of the Asheville metro, this 79-unit asset offers exposure to a neighborhood with manageable renter affordability and improving demand signals, according to WDSuite’s CRE market data. Neighborhood metrics cited here reflect the surrounding area, not the property’s own occupancy.
Black Mountain’s neighborhood scores are competitive among Asheville, NC neighborhoods (ranked 51 out of 155, B+), suggesting balanced fundamentals for workforce-oriented multifamily. Cafes and restaurants are relatively dense for the metro (cafe and dining density ranks within the more competitive share of 155 neighborhoods), while groceries are reasonably accessible. Parks, pharmacies, and childcare are limited within the immediate neighborhood footprint, which may influence amenity expectations in leasing.
Neighborhood occupancy trends sit below the metro median (neighborhood occupancy is ranked 118 of 155), indicating higher vacancy than many Asheville subareas. For investors, that points to the need for active leasing and asset differentiation, but it can also open the door for value-add repositioning to capture share as demand normalizes. Median contract rents in the neighborhood are mid-market and the rent-to-income ratio sits in a comfortable range, supporting retention and measured pricing strategies rather than aggressive pushes.
Within a 3-mile radius, households have trended smaller in recent years and are forecast to expand in count into the medium term, indicating a potential renter pool expansion that can support occupancy stability. The 3-mile area skews toward higher-income segments compared with many suburban nodes in the region, which can underpin demand for well-managed, updated units. Home values sit in a higher-cost ownership context relative to income (nationally above average), which typically sustains renter reliance on multifamily housing and supports lease retention.
The average neighborhood construction year is 1975, while the subject property was built in 1982. Being newer than the local average helps competitive positioning against older stock; however, given its vintage, investors should plan for targeted system upgrades and cosmetic renovations over the hold to maintain relevance versus newer deliveries. Renter-occupied housing shares in the immediate area are modest on a neighborhood basis, but within the 3-mile radius renters account for a meaningful portion of occupied units, offering a tangible tenant base for leasing efforts.
Safety indicators for the neighborhood are mixed when viewed across geographies. Within the Asheville metro, the neighborhood’s crime rank is 17 out of 155, which signals a higher incident environment compared with many nearby neighborhoods and argues for standard property-level security and lighting protocols. Nationally, however, the area scores in the 70th percentile for safety, placing it above many neighborhoods across the country.
Recent trend data is directionally positive: both property and violent offense estimates have declined year over year, placing the neighborhood in stronger improvement percentiles nationally. For investors, that combination—metro-relative caution with improving trends—supports prudent risk management without assuming outsized security costs.
Regional employment access is supported by industrial and distribution nodes to the west of Black Mountain, providing commute options that can underpin renter demand and lease retention. The following nearby employer reflects this base.
- Airgas Store — industrial gases & supplies (11.2 miles)
Built in 1982 with 79 units averaging compact floor plans, the property offers a value-add platform relative to the neighborhood’s older housing stock while still benefiting from suburban fundamentals. Neighborhood occupancy sits below the metro median, so outperformance will hinge on targeted renovations, disciplined leasing, and service differentiation; yet homeownership remains relatively high-cost for the area, supporting steady multifamily demand and lease retention. According to CRE market data from WDSuite, rents sit in a mid-market band with rent-to-income levels that support measured pricing power rather than aggressive escalations.
Within a 3-mile radius, household counts are projected to rise and incomes skew toward higher brackets, expanding the potential tenant base for upgraded units and supporting occupancy stability over the hold. Limited public amenities (parks, pharmacies, childcare) in the immediate neighborhood argue for on-site convenience features to strengthen leasing velocity and renewals.
- 1982 vintage is newer than local average, creating renovation upside against older competing stock.
- Mid-market rents and manageable rent-to-income levels support retention and steady cash flow management.
- 3-mile radius shows projected household growth and higher-income mix, expanding the renter pool for updated units.
- Elevated neighborhood vacancy versus metro suggests value-add potential through targeted upgrades and active leasing.
- Risks: metro-relative safety ranking, limited nearby parks/pharmacies/childcare, and the need for capital planning typical of early-1980s assets.