| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 64th | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10010 Season Grove Ln, Charlotte, NC, 28216, US |
| Region / Metro | Charlotte |
| Year of Construction | 2000 |
| Units | 24 |
| Transaction Date | 2001-09-04 |
| Transaction Price | $13,674,000 |
| Buyer | GRAY PROPERTY 2105 LLC |
| Seller | WP GROVE LLC |
10010 Season Grove Ln Charlotte Multifamily Investment
Suburban location with stable renter demand and an A-rated neighborhood profile points to steady leasing fundamentals, according to WDSuite’s CRE market data. Directionally solid occupancy and household growth trends support long-term income durability.
The property sits in an A-rated, Suburban neighborhood that ranks 62 out of 709 Charlotte metro neighborhoods — effectively top decile locally. Rents in the area trend above many U.S. neighborhoods (around the 70th national percentile), while the rent-to-income balance is comparatively manageable, supporting retention and reducing lease-friction risk for operators.
Livability drivers are mixed but broadly supportive: restaurant, grocery, and childcare access land around the 60th–75th national percentiles, indicating everyday convenience. Park access is limited, which can modestly temper lifestyle appeal and should be considered in marketing and amenity programming to sustain competitiveness.
Multifamily demand is underpinned by a meaningful renter base. At the neighborhood level, roughly one-third of housing units are renter-occupied (about 35%), signaling depth for workforce and mid-market product. The neighborhood’s occupancy rate is near the low-90s, indicating generally stable absorption and lease-up dynamics versus metro peers.
Demographic statistics are aggregated within a 3-mile radius. Population and households have grown recently and are projected to expand further over the next five years, pointing to a larger tenant base and continued renter pool expansion. This backdrop supports occupancy stability and pricing power in line with Charlotte’s broader growth trajectory.
Vintage is 2000, while the neighborhood’s average construction year trends slightly newer (mid-2000s). Investors should plan for targeted capital improvements and light modernization to keep the asset competitive against younger stock; the flip side is selective value-add upside through interior upgrades and curb appeal enhancements.
Safety metrics compare below national averages for neighborhoods, with national percentiles indicating weaker safety performance. That said, recent year-over-year readings show declines in both property and violent offense estimates, suggesting incremental improvement rather than deterioration. Conditions can vary block to block, so investors typically underwrite with prudent security measures and community engagement to support resident retention.
Within the Charlotte metro context, the area performs below the safer cohort of neighborhoods but is not at the bottom of the distribution. For underwriting, this usually translates into practical considerations such as lighting, access control, and partnership with professional management to maintain leasing velocity and protect NOI.
Proximity to core employment centers supports renter demand and commute convenience, particularly for residents tied to financial services, energy, and tech offices. The following nearby employers anchor the regional job base referenced here.
- AmerisourceBergen Healthcare Consultants — corporate offices (8.5 miles)
- Duke Energy — corporate offices (8.8 miles) — HQ
- Bank of America Corp. — corporate offices (8.9 miles) — HQ
- Duke Energy — corporate offices (9.1 miles)
- Cisco Systems — corporate offices (9.2 miles)
This 24-unit asset in northwest Charlotte benefits from an A-rated, Suburban neighborhood with renter concentration around one-third of units and occupancy near the low-90s, supporting steady collections and leasing. Elevated home values relative to incomes in the area reinforce reliance on multifamily, while rents remain comparatively manageable, aiding retention. Based on commercial real estate analysis from WDSuite, local amenity access is solid, though limited park access merits attention in positioning.
Built in 2000, the property is slightly older than the neighborhood average vintage (mid-2000s). That creates a straightforward value-add path through selective interior updates and exterior refresh to compete against newer stock. Demographics within a 3-mile radius show recent growth with forward projections indicating a larger tenant base ahead, which supports occupancy stability over a multiyear hold.
- A-rated, top-decile neighborhood in Charlotte supports consistent renter demand
- Renter concentration near one-third and occupancy in the low-90s backfill leasing stability
- Elevated ownership costs sustain reliance on rentals; rents remain comparatively manageable for retention
- Vintage 2000 offers value-add potential via targeted modernization to compete with newer supply
- Risk: safety metrics trail national averages and park access is limited; plan for security and amenity strategy