| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Fair |
| Demographics | 40th | Fair |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5820 Reddman Rd, Charlotte, NC, 28212, US |
| Region / Metro | Charlotte |
| Year of Construction | 1982 |
| Units | 24 |
| Transaction Date | 2005-10-26 |
| Transaction Price | $4,850,000 |
| Buyer | AMBER LAKE APARTMENTS LLC |
| Seller | TRIANGLE EAGLELS WALK INC |
5820 Reddman Rd Charlotte Multifamily Investment
Neighborhood occupancy sits around the metro mid-pack with a deep renter base supporting demand, according to WDSuite’s CRE market data. Rental levels trend slightly above national medians, balancing pricing power with retention potential.
Located in Charlotte’s inner suburbs, the area around 5820 Reddman Rd blends everyday convenience with workforce housing dynamics. Grocery access is competitive among Charlotte neighborhoods and in the top quartile nationally, while restaurant density also scores well versus national peers. By contrast, cafes and parks are limited in immediate proximity, which may modestly temper lifestyle appeal at the micro level.
Renter demand and pricing: The neighborhood’s renter-occupied share is high (higher than most Charlotte neighborhoods and in the top national percentiles), indicating a sizable tenant base that can support leasing velocity and renewal depth. Median contract rent levels sit slightly above national medians with multi‑year growth, while rent-to-income ratios remain comparatively manageable, aiding retention and reducing collection risk for value-oriented product.
Livability and services: Childcare density is among the strongest in the metro (ranked 1 out of 709 Charlotte neighborhoods) and grocery coverage is competitive, supporting day-to-day convenience for residents. Average school ratings are not available; investors may underwrite conservatively on school-driven demand or focus positioning toward working households and young families given the service mix.
Occupancy context: Neighborhood occupancy is near the national mid-range and roughly mid-pack within the Charlotte metro, suggesting stable baseline demand without signs of structural overbuilding. For investors, this points to steady operations with room for asset-level improvements to drive outperformance, rather than relying on market tide alone.
3-mile demographics: Within a 3-mile radius, population has inched up recently and households have increased, with forecasts calling for notable household growth over the next five years. This trajectory expands the local renter pool and supports occupancy stability and lease-up prospects, especially for well-managed, appropriately priced units.
Safety indicators for the neighborhood trend below national averages, with crime measures placing the area on the less favorable side of Charlotte’s distribution (ranks referenced against 709 metro neighborhoods). Nationally, safety percentiles sit in the lower range, signaling that investors should underwrite prudent security, lighting, and property management practices.
That said, recent trends show improvement: estimated property offenses declined year over year, and violent offense trends edged down slightly, according to WDSuite’s CRE market data. For underwriting, a focus on visibility, access control, and community standards can help sustain tenant retention and reduce non-revenue costs.
Proximity to major corporate employers underpins renter demand through commute convenience and a diverse white-collar and operations workforce. Nearby anchors include Sonic Automotive, Bank of America, Nucor, Duke Energy, and Cisco Systems.
- Sonic Automotive — auto retail corporate offices (3.1 miles) — HQ
- Bank of America Corp. — banking corporate offices (5.4 miles) — HQ
- Nucor — steel corporate offices (5.5 miles) — HQ
- Duke Energy — utilities corporate offices (5.7 miles) — HQ
- Cisco Systems — networking corporate offices (6.2 miles)
This 24‑unit asset is positioned in an inner-suburban Charlotte neighborhood with renter demand supported by a high share of renter-occupied housing and solid everyday amenities, particularly grocery and childcare access. Neighborhood occupancy trends are roughly mid-pack for the metro, pointing to stable baseline operations; rent levels sit slightly above national medians while rent-to-income ratios suggest manageable affordability pressure—favorable for renewal and collections management, according to CRE market data from WDSuite.
Within a 3-mile radius, households have grown and are projected to expand meaningfully over the next five years, which should broaden the tenant base and support leasing velocity for well-positioned units. Investors may consider modest value-add and management-driven improvements to capture pricing power, while accounting for below-average safety metrics and limited park/cafe density in marketing and capital plans. In a relatively lower-cost ownership market locally, thoughtful positioning and service quality can help mitigate competition from entry-level ownership.
- Deep renter base supports demand and renewals
- Grocery and childcare access bolster day-to-day livability
- Mid-pack occupancy with rents slightly above national medians
- 3-mile household growth expands the local renter pool
- Risks: below-average safety and limited parks/cafes; plan for security and targeted amenities