| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 50th | Fair |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 320 Beaty Rd, Belmont, NC, 28012, US |
| Region / Metro | Belmont |
| Year of Construction | 1988 |
| Units | 22 |
| Transaction Date | 2023-10-24 |
| Transaction Price | $4,000,000 |
| Buyer | C-9000 LLC |
| Seller | WICKENDEN PARTNERS MULTIFAMILY III LLC |
320 Beaty Rd Belmont NC Multifamily Investment
Stabilizing renter demand and competitive neighborhood occupancy support consistent performance, according to WDSuite’s CRE market data. For investors, the area’s renter concentration and commuting access in the Charlotte metro point to durable leasing fundamentals.
Belmont’s inner-suburban setting offers a balanced mix of neighborhood conveniences with grocery options performing above national averages, while restaurants are roughly in line with peers. Cafés and parks are thinner locally, which may modestly temper lifestyle appeal, but the submarket benefits from proximity to Charlotte employment centers and regional amenities accessed by major arterials.
Schools in this neighborhood rank within the top quartile among 709 Charlotte-Concord-Gastonia neighborhoods, which can support family-oriented leasing and longer tenancy. Neighborhood occupancy trends are competitive among Charlotte-Concord-Gastonia neighborhoods and sit above national norms, reinforcing near-term stability for multifamily assets. Median contract rents are around the metro middle, which supports absorption for cost-conscious renters without sacrificing rent growth potential.
Within a 3-mile radius, population has grown in recent years and households increased meaningfully, signaling a larger tenant base and more renters entering the market. Forward-looking data points to continued population growth and a sizable increase in households alongside smaller average household sizes, which typically supports demand for apartments and helps sustain occupancy.
Home values in the neighborhood sit below many coastal markets but reflect a high-cost ownership market relative to local incomes, which can reinforce reliance on multifamily housing and support lease retention. The neighborhood shows a higher share of renter-occupied housing units than many peers in the metro, indicating adequate depth of demand for workforce and mid-market product. These dynamics, based on commercial real estate analysis from WDSuite, suggest pricing power should be managed carefully to balance retention with growth.
Relative to the Charlotte-Concord-Gastonia metro’s 709 neighborhoods, this area ranks in the stronger tier for lower reported crime, placing it in the top quartile locally. Nationally, neighborhood safety indicators are above average, with property-related measures comparing favorably to many U.S. neighborhoods.
Recent trends are mixed: property offense rates show a year-over-year improvement, while violent offense trends have moved the other way. For investors, this suggests monitoring conditions over time and emphasizing standard security, lighting, and resident engagement practices to support retention without overcapitalizing on non-core upgrades.
Proximity to major Charlotte employers underpins commuter convenience and supports renter demand for workforce and mid-market units. Nearby anchors include healthcare distribution, technology, industrial gases, utilities, and banking.
- AmerisourceBergen Healthcare Consultants — healthcare services (7.9 miles)
- Cisco Systems — technology (10.5 miles)
- Airgas — industrial gases (10.8 miles)
- Duke Energy — utilities (10.8 miles) — HQ
- Bank of America Corp. — banking (11.1 miles) — HQ
The property at 320 Beaty Rd is a 22‑unit asset built in 1988, positioning it as a potential value‑add candidate where selective capital improvements can enhance competitiveness against newer stock. Neighborhood fundamentals are constructive: occupancy is competitive among Charlotte-Concord-Gastonia neighborhoods, renter-occupied housing share is elevated for the metro, and ownership remains relatively costly versus incomes—factors that together support a deep tenant base and stable leasing. According to CRE market data from WDSuite, schools perform in the top quartile locally and grocery access is solid, which can aid retention, while thinner café and park coverage suggests focusing upgrades on in‑unit livability and onsite amenities over walkability premiums.
Within a 3-mile radius, recent growth in population and a notable increase in households point to renter pool expansion. Forecasts indicate further population growth and a sizable rise in households alongside smaller household sizes, typically favorable for multifamily demand and occupancy stability. Given the 1988 vintage and compact average unit sizes, investors may target pragmatic renovations (systems, finishes, energy efficiency) to drive rentability while keeping affordability in check to preserve retention and limit turnover.
- Competitive neighborhood occupancy and an elevated renter-occupied housing share support leasing stability.
- 1988 vintage offers value‑add potential through targeted capex without overextending on luxury features.
- 3‑mile growth outlook shows population and households increasing, expanding the tenant base and supporting absorption.
- Proximity to major Charlotte employers underpins workforce demand and commute convenience.
- Risks: amenity gaps (parks/cafés), mixed safety trends, and renovation/capex needs typical of 1980s assets.