| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 43rd | Fair |
| Amenities | 21st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10244 Mt Holly Rd, Charlotte, NC, 28214, US |
| Region / Metro | Charlotte |
| Year of Construction | 2012 |
| Units | 24 |
| Transaction Date | 2020-04-14 |
| Transaction Price | $65,635,000 |
| Buyer | BR ASHTON LIMITED PARTNERSHIP |
| Seller | BR ASHTON I OWNER LLC |
10244 Mt Holly Rd Charlotte Multifamily Investment
2012-vintage, 24-unit asset in suburban Charlotte where neighborhood occupancy trends sit in the mid-90s, according to WDSuite’s CRE market data, supporting stable cash flow potential. Limited nearby amenities but strong job access underpin renter demand and retention.
This suburban pocket of northwest Charlotte offers practical access to marquee employment centers while retaining a lower-density residential feel. Neighborhood occupancy is competitive among Charlotte-Concord-Gastonia neighborhoods (top 40% of 709), a positive indicator for leasing stability at the asset level. The property’s 2012 construction stands newer than the neighborhood’s predominantly 1970s housing stock, which can bolster competitive positioning versus older inventory.
Amenity density is mixed: pharmacies are above average nationally, while parks, cafes, and restaurants are sparse within the neighborhood. Grocery options register around the metro middle, suggesting day-to-day convenience without the premiums of core urban nodes. For investors, the relative amenity trade-off is offset by commute connectivity and workforce access.
Within a 3-mile radius, population and household counts have been growing and are projected to continue expanding, pointing to a larger tenant base over time. The renter-occupied share is about one-quarter of housing units, indicating an owner-leaning area; combined with proximity to major employers, this still supports steady multifamily demand, though marketing may need to emphasize convenience and value to widen the capture area.
Neighborhood rents trend on the higher side nationally while rent-to-income levels appear comparatively manageable, which can aid lease retention and measured pricing power. Median home values sit below many coastal markets, meaning ownership is more accessible here than in high-cost metros; investors should underwrite some competition from for-sale options while leaning on the property’s newer vintage and location fundamentals to sustain occupancy.
Relative to the Charlotte metro, the neighborhood’s safety profile trends below the metro median (ranked in the lower half among 709 neighborhoods). Compared with neighborhoods nationwide, indicators align below national averages; however, recent data shows a meaningful year-over-year decline in property offenses, an improvement trend that is notable for operational planning.
Investors should focus on on-site management, lighting, and access controls to support resident confidence. Interpreting these signals at the neighborhood level helps frame expectations; block-level conditions can vary, so property-specific measures remain important for leasing and retention.
The area draws on a deep Charlotte employment base, with convenient access to healthcare distribution, energy, technology, and financial services—drivers that support renter demand and reduce commute friction for residents.
- AmerisourceBergen Healthcare Consultants — healthcare distribution/consulting (7.3 miles)
- Duke Energy — energy utility (8.7 miles) — HQ
- Cisco Systems — technology offices (8.8 miles)
- Bank of America Corp. — financial services (8.9 miles) — HQ
- Airgas — industrial gases/corporate offices (10.2 miles)
Built in 2012, this 24-unit property is newer than much of the surrounding 1970s-built stock, providing a competitive edge on finishes and systems while leaving room for targeted modernization over a hold period. Neighborhood occupancy ranks competitive within the Charlotte metro, and within a 3-mile radius the expanding population and households point to a growing renter pool that supports leasing stability. According to CRE market data from WDSuite, local rent levels are relatively elevated nationally yet remain supportable by incomes, reinforcing retention potential when paired with disciplined renewals.
The submarket’s owner-leaning tenure suggests measured but durable multifamily demand, particularly for professionally managed assets with strong maintenance and responsive operations. Amenity density is thinner than core urban nodes and safety benchmarks trail metro leaders, but proximity to major employers and a high-quality 2010s vintage underpin a pragmatic, income-focused thesis with selective value-add upside.
- 2012 vintage outcompetes older neighborhood stock; targeted upgrades can further enhance positioning.
- Competitive neighborhood occupancy and 3-mile renter pool expansion support leasing stability.
- Income context supports measured rent growth and renewal retention, per WDSuite market data.
- Proximity to diversified employers underpins steady demand and reduces commute friction.
- Risks: thinner amenity density and below-metro safety ranks; mitigate via on-site operations and underwriting discipline.