| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 86th | Best |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2720 South Blvd, Charlotte, NC, 28209, US |
| Region / Metro | Charlotte |
| Year of Construction | 2013 |
| Units | 80 |
| Transaction Date | 2005-08-23 |
| Transaction Price | $5,143,000 |
| Buyer | ABBERLY STATION LP |
| Seller | CRESCENT RESOURCES LLC |
2720 South Blvd, Charlotte NC Multifamily Investment
Neighborhood-level occupancy trends and a deep renter base point to durable demand near Charlotte s core, according to WDSuite s CRE market data. This 2013 asset competes well against older local stock while offering proximity-driven leasing advantages.
The property sits in an inner-suburb location within the Charlotte-Concord-Gastonia metro that ranks 8th out of 709 neighborhoods overall (A+), placing it firmly in the top quartile among metro peers. Amenities are a core strength: grocery, dining, and parks density score in higher national percentiles, and amenity access ranks 19th of 709 competitive among Charlotte neighborhoods. For investors, this supports resident satisfaction, leasing velocity, and day-to-day convenience.
Rents in the neighborhood benchmark in the top decile nationally, while neighborhood occupancy is competitive among Charlotte areas (ranked 268 of 709). The share of housing units that are renter-occupied is elevated (ranked 68 of 709), signaling a deep tenant base and supporting multifamily absorption and renewal potential. With median home values high for the area (upper national percentiles) and a value-to-income ratio above national medians, this remains a high-cost ownership market that tends to sustain rental demand and pricing power without depending on outsized concessions.
Demographic statistics aggregated within a 3-mile radius indicate strong fundamentals for multifamily demand. Recent years show population growth alongside a notable increase in households and a smaller average household size, expanding the renter pool and supporting occupancy stability. Forecasts to 2028 call for additional population and household expansion, which should translate into a larger tenant base over time. Median household incomes in this radius have risen materially, reinforcing the ability to support rent levels while giving managers room to calibrate lease terms to retention goals.
The building s 2013 construction is newer than the neighborhood s average vintage (1983). That relative newness improves competitive positioning versus older inventory; investors should still plan for mid-life system updates and targeted common-area upgrades to maintain leasing appeal and operating efficiency.
Safety performance at the neighborhood level trends below national benchmarks, with crime metrics sitting in lower national percentiles and a rank of 570 out of 709 among Charlotte neighborhoods. This suggests elevated incidents relative to both metro and national comparisons. Operators often address this with practical measures such as lighting, access controls, and insurer-guided risk management; underwriting should reflect potential security and insurance line items and consider trend monitoring over the hold.
Nearby corporate offices create a concentrated employment base that supports renter demand and short commutes for residents. Key employers in proximity include Cisco Systems, Duke Energy, Bank of America, Nucor, and Sonic Automotive.
- Cisco Systems technology offices (0.85 miles)
- Duke Energy utilities (1.94 miles) HQ
- Bank of America Corp. financial services (2.32 miles) HQ
- Nucor steel manufacturing corporate (3.37 miles) HQ
- Sonic Automotive auto retail corporate (4.28 miles) HQ
2720 South Blvd combines near-Core location advantages with strong neighborhood rankings and sustained renter demand. The submarket s amenity density and elevated renter-occupied share support absorption, while neighborhood occupancy trends and rising 3-mile household counts point to stable leasing conditions. 2013 construction provides a relative edge over older stock, with a straightforward path to value through targeted modernization and operational execution. According to commercial real estate analysis from WDSuite, local rent levels benchmark high nationally, aligning with income growth in the 3-mile radius and the high-cost ownership landscape that reinforces reliance on multifamily housing.
Key considerations include below-average safety positioning that may warrant enhanced on-site security and insurance planning, plus the need to budget for mid-life capital items over the hold period. Even with these factors, the employment base nearby and top-tier amenity access underpin long-term demand fundamentals.
- Newer 2013 vintage relative to local stock supports competitive positioning with limited near-term capex beyond mid-life items.
- Strong neighborhood standing (top tier among 709 Charlotte neighborhoods) and high amenity access bolster leasing and retention.
- Deep renter base and growing 3-mile households expand the tenant pool, supporting occupancy stability and pricing power.
- Proximity to major employers (HQs nearby) enhances commute convenience and broadens demand from higher-income cohorts.
- Risks: below-average safety metrics and insurance/security costs; plan for targeted upgrades and vigilant operations.