| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 38th | Fair |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3633 Citiside Dr, Charlotte, NC, 28215, US |
| Region / Metro | Charlotte |
| Year of Construction | 2001 |
| Units | 24 |
| Transaction Date | 2011-08-05 |
| Transaction Price | $11,500,000 |
| Buyer | CITISIDE OWNER LLC |
| Seller | PC LINKS LLC |
3633 Citiside Dr, Charlotte NC Multifamily Investment
Positioned in an inner-suburban Charlotte neighborhood with renter demand supported by a sizable tenant base, this 24-unit asset offers durable occupancy potential and value-add angles. Based on CRE market data from WDSuite, local fundamentals trend near the metro middle, with newer-vintage positioning that can compete for leases.
The property’s 2001 vintage is newer than the neighborhood’s average construction year of 1987, which can reduce near-term capital exposure while offering a platform for targeted upgrades to enhance competitiveness against older stock. Average unit sizes around 903 sq. ft. support livability for small households, aligning with inner-suburban renter preferences.
Amenity access is competitive among Charlotte neighborhoods (ranked 194 out of 709), with restaurants relatively present while everyday retail like groceries and parks are thinner nearby. For investors, this mix suggests resident reliance on short drives for errands, while dining options can aid leasing appeal.
Neighborhood occupancy sits near the metro middle, and net operating income per unit performance is strong locally (top quartile among 709 metro neighborhoods by rank), indicating that comparable assets in this area have supported solid operating margins. The neighborhood’s renter-occupied housing share is 44.8%, pointing to a meaningful tenant pool that supports demand depth and leasing stability.
Within a 3-mile radius, demographics show population growth over the last five years and a larger increase in household counts, expanding the renter base. Forward-looking projections within the same 3-mile radius indicate further increases in households alongside smaller average household sizes, which typically support multifamily absorption and occupancy stability. According to WDSuite’s CRE market data, home values in the neighborhood are more accessible than high-cost coastal markets, which helps balance pricing power with retention, while a moderate rent-to-income profile suggests manageable affordability pressure.
Safety metrics trend below national norms here, with neighborhood rankings indicating higher crime relative to many Charlotte areas (crime rank 505 out of 709). Nationally benchmarked estimates place the area in lower safety percentiles; however, recent year-over-year trends point to improvement, with declines in both property and violent offense estimates. For investors, this means monitoring local trendlines and property-level measures remains important, while acknowledging momentum in the right direction.
Proximity to a diversified employment base supports workforce housing demand and commute convenience, notably tied to financial services, energy utilities, and corporate headquarters including Bank of America, Duke Energy, Sonic Automotive, Cisco Systems, and Merck.
- Bank of America Corp. — banking HQ and corporate offices (3.9 miles) — HQ
- Duke Energy — energy utility corporate offices (4.3 miles) — HQ
- Sonic Automotive — auto retail corporate offices (5.0 miles) — HQ
- Cisco Systems — technology offices (5.2 miles)
- Merck — life sciences offices (5.9 miles)
3633 Citiside Dr offers a newer-vintage (built 2001) platform relative to the neighborhood average, which can lower immediate capital needs and create optionality for value-add renovations to capture rent premiums. According to CRE market data from WDSuite, neighborhood occupancy trends sit near the metro middle, while a meaningful renter concentration and strong local NOI-per-unit rank (top quartile among 709 metro neighborhoods by rank) point to demand depth and operating resilience versus peers.
Within a 3-mile radius, household counts have increased and are projected to rise further, with smaller average household sizes over time — conditions that typically expand the tenant pool and support leasing velocity. Home values and rent-to-income levels suggest a balanced path for pricing power and resident retention, though limited immediate amenity density and below-average safety percentiles warrant ongoing management attention and underwriting discipline.
- Newer 2001 construction relative to neighborhood average, supporting competitive positioning and targeted value-add
- Strong local NOI-per-unit performance (top quartile by metro rank) indicating healthy operating potential
- Expanding 3-mile household base and smaller household sizes bolster multifamily demand and occupancy stability
- Balanced affordability profile supports retention while allowing disciplined rent growth strategies
- Risks: below-average safety percentiles and thinner everyday amenities require proactive management and underwriting