| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 95th | Best |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1800 Commonwealth Ave, Charlotte, NC, 28205, US |
| Region / Metro | Charlotte |
| Year of Construction | 2012 |
| Units | 53 |
| Transaction Date | 2014-07-16 |
| Transaction Price | $7,650,000 |
| Buyer | Chaucer Creek Capital, LLC |
| Seller | LPA Commonwealth LLC |
1800 Commonwealth Ave, Charlotte NC Multifamily Investment
Newer 2012 construction in an Inner Suburb with strong renter demand and high neighborhood occupancy, according to WDSuite’s CRE market data. Positioned for steady leasing with proximity to major employment and amenities.
The property sits in Charlotte’s Inner Suburb near 1800 Commonwealth Ave, where neighborhood fundamentals are among the metro’s strongest (A+ rating; ranked 1 out of 709 Charlotte neighborhoods). Amenities are a clear advantage: restaurants, groceries, pharmacies, parks, and cafes are all dense in this area, placing the neighborhood in the top quartile nationally for amenity access. These characteristics support day‑to‑day livability and sustained leasing appeal.
For investors, neighborhood occupancy is elevated and has strengthened in recent years, indicating stable renter demand at the neighborhood level rather than the property specifically. Renter concentration is also high, reinforcing depth of the tenant base for multifamily. Median home values in the area are elevated relative to incomes, a high‑cost ownership context that tends to sustain reliance on rental housing and can support pricing power with disciplined lease management.
Within a 3‑mile radius, demographics point to a growing renter pool: population and households have increased over the last five years and are projected to continue rising, while smaller average household size suggests more households competing for units. Income distributions are skewed toward higher‑earning cohorts, which can support Class A/B absorption, though operators should still monitor rent‑to‑income and renewal behavior for retention.
Vintage matters for competitiveness: the property’s 2012 construction stands newer than the neighborhood’s older housing stock (average vintage 1970 among 709 metro neighborhoods), offering an edge versus legacy assets while still warranting mid‑life capital planning for major systems and potential light renovations to maintain positioning.
Safety trends should be evaluated with a comparative lens. This neighborhood ranks 474 out of 709 Charlotte metro neighborhoods for crime, placing it below the metro median and below national averages for safety. Nationally, it sits in lower percentiles for both property and violent offenses, so prudent security measures and resident communication can be important for retention.
Recent momentum is mixed: estimated violent offenses show a year‑over‑year decrease (an improvement that is competitive among many U.S. neighborhoods), while property offenses are roughly flat. Investors typically underwrite to these dynamics by emphasizing lighting, access controls, and community standards, and by tracking city and neighborhood trendlines rather than block‑level variation.
Proximity to major employers supports commuter convenience and leasing depth, particularly for finance, energy, and corporate services talent employed by Bank of America, Duke Energy, Cisco Systems, Sonic Automotive, and Nucor.
- Bank of America Corp. — banking & financial services (1.7 miles) — HQ
- Duke Energy — utilities & energy (2.0 miles) — HQ
- Cisco Systems — enterprise technology offices (2.6 miles)
- Sonic Automotive — automotive retail corporate (3.0 miles) — HQ
- Nucor — steel & manufacturing corporate (4.3 miles) — HQ
This 53‑unit asset with an average unit size of roughly 636 sq. ft. benefits from a neighborhood that is competitive among Charlotte submarkets for livability and renter demand. Based on CRE market data from WDSuite, neighborhood occupancy remains elevated and renter concentration is strong, while the 2012 vintage offers relative competitiveness versus older local stock and potential to sustain rents with targeted modernization as systems reach mid‑life.
Within a 3‑mile radius, population and household growth—alongside a gradual reduction in average household size—point to a larger tenant base and support for occupancy stability. Elevated home values in the area signal a high‑cost ownership market that can reinforce reliance on multifamily housing; operators can leverage this with disciplined renewals and amenity upkeep, especially given proximity to major employers and top‑quartile amenity access.
- Newer 2012 construction relative to neighborhood average, offering competitive positioning versus older inventory with manageable value‑add options.
- Strong neighborhood occupancy and sizable renter‑occupied share support stable leasing and retention at the neighborhood level.
- 3‑mile growth in population and households expands the tenant base, supporting absorption and lease‑up confidence.
- High‑cost ownership context underpins rental demand and potential pricing power with prudent lease management.
- Risks: below‑average safety standing versus metro and national benchmarks; mid‑life capital planning; ongoing affordability and renewal management to protect retention.