| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 32nd | Poor |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1001 Lakeview St, Gastonia, NC, 28052, US |
| Region / Metro | Gastonia |
| Year of Construction | 1990 |
| Units | 43 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1001 Lakeview St Gastonia Value-Add Multifamily
Neighborhood occupancy sits in the low-90s with rents trending upward, indicating steady renter demand according to WDSuite’s CRE market data. With a renter base near parity in the 3-mile radius and growth projected, the asset’s income stability should benefit from deepening tenant pools.
Situated in Gastonia’s inner-suburb fabric, the property benefits from a neighborhood occupancy rate that is above the metro median (ranked 324 of 709), supporting consistent leasing and renewal potential. Contract rents have been rising locally, while a mid-teens rent-to-income ratio suggests manageable affordability that can aid retention and limit turnover.
Amenities are mixed: grocery access is a relative strength (high national percentile), restaurants are competitive for the metro, and parks, pharmacies, cafes, and childcare are limited. For investors, this points to daily needs being well covered, with some lifestyle amenities requiring short drives.
Within a 3-mile radius, population and household counts have grown and are projected to expand further by 2028, indicating a larger tenant base ahead. The renter-occupied share in this radius is roughly balanced with owners and is expected to tilt toward renters, which supports occupancy stability and absorption for workforce-oriented units.
Elevated home values relative to local incomes (above-average value-to-income ratio nationally) reinforce reliance on multifamily housing. That context tends to support pricing power at renewal while keeping an eye on lease management to balance affordability pressures.
Built in 1990, the vintage suggests scope for targeted renovations and system upgrades. Thoughtful capital planning can unlock value-add upside and improve competitive positioning against newer stock in the Charlotte-Concord-Gastonia region.
Safety metrics are mixed versus broader benchmarks. The neighborhood’s safety rank is below the metro median (ranked 444 of 709), and national comparisons place the area below average. Recent year-over-year trends show modest declines in both property and violent offense rates, which is encouraging but does not eliminate risk. Investors should underwrite prudent security measures and consider tenant experience initiatives to support retention.
Proximity to Charlotte’s employment base supports renter demand, with commuting access to utilities, healthcare distribution, technology, and major financial headquarters noted below.
- Duke Energy — utilities office (16.3 miles)
- AmerisourceBergen Healthcare Consultants — healthcare services (17.4 miles)
- Airgas — industrial gases (19.7 miles)
- Cisco Systems — technology (20.5 miles)
- Duke Energy — utilities (21.1 miles) — HQ
- Bank of America Corp. — financial services (21.4 miles) — HQ
This 43-unit, 1990-vintage asset offers income durability supported by an above-median neighborhood occupancy rank and a renter base that is expected to expand within the 3-mile radius. Rising local rents and a moderate rent-to-income profile point to balanced pricing power and retention potential, while elevated ownership costs relative to incomes sustain reliance on multifamily housing. According to CRE market data from WDSuite, grocery access is a relative strength and restaurants are competitive for the metro, offset by limited parks and pharmacies that may require short drives.
For investors, the value proposition centers on steady demand drivers and targeted value-add: interior finishes, common-area refreshes, and systems modernization can enhance positioning against newer product while maintaining workforce appeal. Risk management should address below-median safety rankings and amenity gaps through pragmatic security, lighting, and resident-experience upgrades.
- Above-median neighborhood occupancy and growing 3-mile renter pool support stability
- 1990 vintage provides clear value-add path via interiors and systems
- Elevated ownership costs reinforce reliance on rentals, aiding pricing power
- Access to major Charlotte employers underpins workforce demand and retention
- Risks: below-median safety and limited parks/pharmacies; underwrite security and tenant-experience measures