| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 47th | Fair |
| Amenities | 70th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2310 Whitehall Estates Dr, Charlotte, NC, 28273, US |
| Region / Metro | Charlotte |
| Year of Construction | 1996 |
| Units | 30 |
| Transaction Date | 2020-03-12 |
| Transaction Price | $41,125,000 |
| Buyer | WHITEHLALL ESTATES APARTMENTS LLC |
| Seller | CLT WHITEHALL LLC |
2310 Whitehall Estates Dr Charlotte Multifamily Investment
Neighborhood occupancy is strong with a sizable renter-occupied housing base, supporting income stability according to WDSuite’s CRE market data. Position in Charlotte’s inner suburb offers durable renter demand with mid-tier rents and solid amenity access.
This inner suburb location in Charlotte ranks above the metro median overall (rank 80 of 709 neighborhoods, rated A), signaling balanced fundamentals for multifamily investors. Neighborhood occupancy measures in the top quintile nationally, while the share of renter-occupied units is elevated, indicating a deep tenant base that can support leasing velocity and retention.
Amenity access is a relative strength. Cafes and groceries index well above national norms, which helps day-to-day livability and leasing appeal; park access, however, is limited locally and may shift the value proposition toward on-site amenities. Median neighborhood rents sit in the upper national ranges but remain supported by incomes, which helps manage affordability pressure and reduce turnover risk.
Within a 3-mile radius, population and household counts have expanded in recent years, and projections indicate continued growth through the midterm. A rising household base and slightly smaller average household sizes point to more renters entering the market, bolstering depth of demand for professionally managed apartments.
Vintage considerations matter: the property’s 1996 construction is older than the neighborhood’s average stock (early 2000s). Investors should plan for targeted capital expenditures and modernization to remain competitive against newer supply, while also evaluating value-add opportunities where unit and common-area upgrades can justify rent premiums.
Safety indicators in this neighborhood trend below national averages, and the area ranks below the metro median (rank 544 of 709 neighborhoods). Nationally, the neighborhood falls into lower safety percentiles, reflecting comparatively higher reported property and violent offense rates than many U.S. neighborhoods.
Recent year-over-year readings show a modest uptick in estimated violent offenses and a larger increase in estimated property offenses. For investors, prudent underwriting would include enhanced access control, lighting, and partnerships with professional security vendors, as appropriate, to support resident retention and asset performance. Comparisons should be made against peer Charlotte submarkets when calibrating expense assumptions and achievable rents.
Proximity to diversified employers supports commuter convenience and broad renter demand, with a mix of industrial gases, healthcare distribution, technology, and major corporate headquarters nearby. The following employers are within commuting distance and can help underpin leasing stability:
- Airgas — industrial gases (2.8 miles)
- AmerisourceBergen Healthcare Consultants — healthcare distribution/consulting (3.7 miles)
- Nucor — steel manufacturing corporate offices (5.3 miles) — HQ
- Cisco Systems — technology offices (5.8 miles)
- Duke Energy — utilities corporate offices (6.9 miles) — HQ
The asset’s location in a high-performing Charlotte inner suburb benefits from strong neighborhood occupancy and an above-median overall neighborhood ranking among 709 metro neighborhoods. Renter-occupied housing concentration is elevated, indicating a deeper tenant base and supporting steady lease-up and retention. According to CRE market data from WDSuite, neighborhood-level rents sit in upper national ranges yet remain supported by incomes, helping manage affordability pressure and underpinning collections.
Built in 1996, the property is older than much of the nearby stock from the early 2000s, creating clear value-add and capital planning angles. Demographics aggregated within a 3-mile radius show recent and forecast growth in both population and households, which expands the renter pool and supports occupancy stability over the hold period. Amenity density is a plus, though limited park access and below-average safety metrics warrant thoughtful operating strategies.
- Strong neighborhood occupancy and elevated renter concentration support leasing stability
- 1996 vintage presents value-add upside via targeted renovations and systems modernization
- 3-mile demographic growth expands the tenant base and supports long-term demand
- Amenity-rich corridor (cafes, groceries) enhances livability and retention potential
- Risks: below-average safety metrics and limited park access require proactive operations and expense planning