| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 92nd | Best |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4320 Park Rd, Charlotte, NC, 28209, US |
| Region / Metro | Charlotte |
| Year of Construction | 2013 |
| Units | 42 |
| Transaction Date | 2025-07-29 |
| Transaction Price | $9,200,000 |
| Buyer | R59 PARK AT DREXEL LLC |
| Seller | CCC PARK AT DREXEL LLC |
4320 Park Rd Charlotte Multifamily Investment
Positioned in an A+ inner-suburb neighborhood with above-median occupancy for the metro, this asset benefits from strong renter demand supported by high home values and steady household growth, according to WDSuite’s CRE market data.
4320 Park Rd sits in Charlotte’s Inner Suburb, where neighborhood fundamentals rank 13 out of 709 metro neighborhoods, signaling a highly competitive location for multifamily. Amenity access is also strong, with the area ranking 21 of 709 for overall amenities and competitive among Charlotte neighborhoods for groceries and restaurants, helping support leasing velocity and retention.
The neighborhood’s rental market shows healthy occupancy around the mid‑90s, placing it above the metro median; median contract rents in the area have risen over the last five years, reinforcing revenue stability. With elevated home values (around the 90th percentile nationally) and a value‑to‑income ratio in the higher range, ownership is a high‑cost proposition locally, which tends to sustain reliance on multifamily housing and bolsters pricing power for well‑maintained assets.
Demographic statistics aggregated within a 3‑mile radius indicate population and household expansion over the past five years, with households growing faster than population and average household size trending smaller. This combination typically expands the renter pool and supports occupancy stability for professionally managed properties. Income dynamics are favorable as well, with median household income above national norms, suggesting capacity to absorb market‑rate rents without excessive affordability pressure.
Vintage is a differentiator: the property’s 2013 construction is newer than the neighborhood’s average 1986 stock. For investors, this generally implies competitive positioning versus older assets, with potential for selective modernization rather than heavy capital outlays common to earlier vintages. One local consideration is limited park density, which may slightly reduce recreational amenity appeal; however, strong access to daily‑needs retail, pharmacies, and cafes helps balance overall livability.
Safety indicators are mixed in a way typical of active, inner‑suburban districts. Within the Charlotte metro, the neighborhood sits near the middle of the pack (crime rank 245 out of 709 neighborhoods). Nationally, composite measures are around the 50th percentile, with property offenses relatively elevated compared with U.S. suburbs but trending lower year over year, and violent offense estimates improving meaningfully over the past year. For investors, the directional trend suggests incremental improvement, while on‑site security, lighting, and access controls remain prudent asset‑level mitigants.
Proximity to a diversified employment base supports renter demand and commute convenience, led by headquarters and major corporate offices in finance, energy, automotive retail, and technology that are within a short drive.
- Nucor — steel manufacturing HQ (1.3 miles) — HQ
- Airgas — industrial gas distribution (1.9 miles)
- Cisco Systems — technology offices (2.7 miles)
- Sonic Automotive — automotive retail HQ (3.1 miles) — HQ
- Duke Energy — energy HQ (3.5 miles) — HQ
This 42‑unit, 2013‑built asset leverages a top‑tier Inner Suburb location where amenity access and income profiles support durable renter demand. According to CRE market data from WDSuite, neighborhood occupancy runs in the mid‑90s and the area’s home values sit high relative to national benchmarks, both of which tend to reinforce rental reliance and underpin rent growth for well‑kept properties. The newer vintage versus the neighborhood’s older baseline stock offers competitive positioning with more targeted capital needs.
Within a 3‑mile radius, households have expanded and are projected to continue growing, with smaller average household sizes indicating a larger pool of renters over time. Nearby headquarters and major employers add daytime population and commute convenience, supporting leasing depth and retention. Key watch items include average park access and mixed—but improving—safety metrics, best addressed through on‑site operations and resident experience initiatives.
- Newer 2013 construction versus neighborhood average, limiting near‑term heavy CapEx and aiding competitive positioning
- Above‑median neighborhood occupancy and high home values support rental demand and pricing power
- 3‑mile household growth and smaller household sizes expand the renter base, supporting lease stability
- Access to multiple nearby headquarters and corporate offices underpins demand from diversified employment
- Risk: limited park density and mid‑pack safety metrics require strong on‑site operations and resident engagement