| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 34th | Poor |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7600 Waterford Lakes Dr, Charlotte, NC, 28210, US |
| Region / Metro | Charlotte |
| Year of Construction | 1991 |
| Units | 20 |
| Transaction Date | 2007-10-31 |
| Transaction Price | $50,300,000 |
| Buyer | BCORE MF ANSON LLC |
| Seller | WATERFORD LAKES NC PARTNERS LLC |
7600 Waterford Lakes Dr Charlotte Multifamily Investment
Neighborhood occupancy near the low-90% range and strong daily-needs access point to durable renter demand, according to WDSuite’s CRE market data. Household growth outpacing population within the area suggests a gradually expanding tenant base and support for steady leasing.
This Inner Suburb location in Charlotte posts a neighborhood rating of B- and sits around the metro middle on occupancy, with recent gains indicating improving stability versus five years ago. Rents benchmark above the national median (neighborhood rank suggests upper-half pricing), while restaurant density is competitive and grocery access is a relative strength, measuring among the top quartile nationally for proximity to daily necessities; parks, cafes, and childcare options are more limited, which may influence lifestyle positioning.
The property’s 1991 vintage is newer than the area’s average construction year of 1973. For investors, that typically means better competitive footing versus older stock, while still planning for modernization of systems and common areas to maintain positioning against newer deliveries.
Within a 3-mile radius, demographic statistics show households have grown even as population remained roughly flat, pointing to smaller household sizes and a larger pool of households relative to residents. Looking ahead, forecasts indicate increases in both households and incomes, which can support multifamily demand depth and retention. The renter-occupied share within this 3-mile area is roughly half of housing units, signaling a sizable tenant base and ongoing demand for professionally managed rentals.
For underwriting, note that neighborhood occupancy trends have improved over the last five years and sit modestly above national midpoints, which, combined with strong grocery access and solid restaurant presence, supports day-to-day livability. However, fewer park and cafe options suggest the asset may compete best on practical value, commute convenience, and operational execution rather than purely lifestyle-driven amenities.
Safety levels in the neighborhood trend below national averages, with crime indicators placing this area under the national midpoint. That said, recent data shows improvement, including a notable one-year decline in property offenses and a modest decrease in violent offenses, suggesting conditions have been moving in a better direction.
Within the Charlotte-Concord-Gastonia metro (709 neighborhoods), the area performs around the middle of the pack. Nationally, safety percentiles point to elevated risk compared with safer suburban peers, so investors often underwrite enhanced on-site security measures, lighting, and resident screening to support retention and asset performance while monitoring continued trend improvement.
Nearby corporate offices provide a diversified employment base that supports commuter demand and leasing stability, led by Airgas, Nucor, AmerisourceBergen, Sonic Automotive, and Cisco.
- Airgas — corporate offices (3.3 miles)
- Nucor — corporate offices (3.6 miles) — HQ
- AmerisourceBergen Healthcare Consultants — corporate offices (6.0 miles)
- Sonic Automotive — corporate offices (6.0 miles) — HQ
- Cisco Systems — corporate offices (6.3 miles)
7600 Waterford Lakes Dr offers investors exposure to a Charlotte inner-suburb location with neighborhood occupancy in the low-90% range and five-year improvement, supported by strong grocery access and a sizable renter pool. The 1991 build is newer than much of the surrounding stock, positioning the asset competitively while leaving room for system upgrades and selective value-add to capture renter preferences. According to CRE market data from WDSuite, local rents sit above national midpoints and the area’s daily-needs amenity strength tends to reinforce leasing durability even as lifestyle amenities are more limited.
Within a 3-mile radius, households have expanded and are projected to grow further alongside rising incomes, reinforcing tenant demand and potential pricing power. Balanced tenure (about half renter-occupied) points to demand depth for multifamily, while investors should remain attentive to safety considerations and affordability management to sustain retention and occupancy.
- Neighborhood occupancy around the low-90% range with recent gains supports leasing stability.
- 1991 vintage is newer than nearby stock, with potential for targeted modernization/value-add.
- Strong grocery and solid restaurant access bolster day-to-day livability and retention.
- 3-mile household growth and income gains indicate a broadening renter base and support for rent performance.
- Risks: safety ranks below national averages and limited park/cafe options—underwrite security, tenant experience, and affordability to maintain performance.