| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 25th | Poor |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5924 Regal Estate Ln, Charlotte, NC, 28212, US |
| Region / Metro | Charlotte |
| Year of Construction | 1999 |
| Units | 24 |
| Transaction Date | 2017-08-24 |
| Transaction Price | $24,000,000 |
| Buyer | OREI AVALON PROPERTY OWNER LLC |
| Seller | 6000 REGAL ESTATE LANE LP |
5924 Regal Estate Ln, Charlotte NC Multifamily Investment
1999-vintage, 24-unit asset positioned in an inner-suburban renter hub with stable neighborhood occupancy, according to WDSuite’s CRE market data. The area’s high renter concentration suggests consistent tenant demand relative to competing Charlotte submarkets.
Located in Charlotte’s inner suburbs, the neighborhood rates B- and ranks 390 out of 709 within the Charlotte-Concord-Gastonia metro, placing it around the metro median. Amenity access is competitive among Charlotte neighborhoods (rank 196 of 709), with restaurants dense by national standards (around the 90th percentile), while groceries (about the 68th percentile) and pharmacies (about the 82nd percentile) provide daily convenience; parks, cafes, and childcare are limited locally.
Multifamily fundamentals are balanced: neighborhood occupancy is 90.4% with a modest five-year softening, and the share of renter-occupied housing units is high at 64.4% (top decile nationally). For investors, that renter concentration deepens the tenant base and can support leasing velocity across cycles; it also means competitive product positioning matters for retention.
Within a 3-mile radius, the population has grown slightly over the past five years while household counts increased more meaningfully, indicating smaller average household sizes and a larger tenant pool. Projections show further increases in households by 2028, which supports multifamily demand and can aid occupancy stability and lease-up performance.
Home values in the neighborhood sit below many coastal markets, but the value-to-income ratio is comparatively elevated for the metro, indicating a high-cost ownership market relative to local incomes. That context generally sustains reliance on rental housing, which can reinforce pricing power and lease retention when paired with sound operations. Neighborhood-level rent is mid-market and has trended upward over five years, aligning with broader Charlotte demand dynamics based on CRE market data from WDSuite.
The property’s 1999 construction is newer than the neighborhood’s average vintage (1976). Relative to older 1970s stock nearby, this positioning can reduce near-term capital intensity while still leaving room for targeted modernization to strengthen competitive standing and capture value-add upside.
Safety indicators reflect mid-pack positioning within the Charlotte metro (crime rank 325 of 709, neighborhood-level data) and below-average safety versus national peers (national crime percentile around the low 40s). Importantly, recent trends are improving at the neighborhood level: estimated property offenses declined about 33.8% year over year, and estimated violent offenses decreased roughly 10.9% year over year. These figures are neighborhood aggregates and not specific to the property or block.
Investors typically translate this profile as manageable with appropriate on-site measures and resident screening, while noting that safety perceptions can influence marketing, insurance costs, and achievable rent premiums relative to the metro’s safest submarkets.
Proximity to major employers supports commuter convenience and broad renter demand, led by Sonic Automotive, Bank of America, Duke Energy, Nucor, and Cisco Systems within roughly 3.6–6.5 miles.
- Sonic Automotive — corporate offices (3.6 miles) — HQ
- Bank of America Corp. — corporate offices (5.7 miles) — HQ
- Duke Energy — corporate offices (5.9 miles) — HQ
- Nucor — corporate offices (6.1 miles) — HQ
- Cisco Systems — corporate offices (6.5 miles)
This 24-unit, 1999-vintage asset sits in an inner-suburban renter market with a deep tenant base and neighborhood occupancy near metro norms. The construction year is newer than the area’s 1970s average, offering a relative competitive edge versus older stock while preserving the option for targeted renovations to drive rent premiums and retention.
Investor fundamentals are supported by a high share of renter-occupied housing units at the neighborhood level, modest population growth and a larger household base within 3 miles, and proximity to multiple corporate employers. According to CRE market data from WDSuite, neighborhood rents are mid-market and have risen over five years, while the local value-to-income profile suggests ownership remains comparatively costly, reinforcing reliance on multifamily. Key watchpoints include affordability pressure (neighborhood rent-to-income near one-third), safety perceptions, and uneven amenity depth (limited parks/cafes) that may require asset-level programming.
- Newer 1999 vintage versus 1970s neighborhood average supports competitive positioning and moderated near-term capex.
- High neighborhood renter concentration indicates a deep tenant base and supports occupancy stability.
- Employer proximity underpins commuter-friendly appeal and leasing resilience.
- Risks: affordability pressure, safety perceptions, and limited nearby parks/cafes call for focused asset management.