| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 68th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 820 E 7th St, Charlotte, NC, 28202, US |
| Region / Metro | Charlotte |
| Year of Construction | 2009 |
| Units | 82 |
| Transaction Date | 2006-12-27 |
| Transaction Price | $1,176,000 |
| Buyer | QUARTERSIDE APARTMENTS OWNER LLC |
| Seller | QUARTERSIDE CL APARTMENTS LLC |
820 E 7th St Charlotte Core Multifamily Opportunity
High renter concentration and top-tier amenity access support durable tenant demand in this central Charlotte location, according to WDSuite’s CRE market data. Neighborhood-level occupancy has trended up over five years, suggesting steady leasing conditions for professionally managed assets.
The property sits in a high-performing Charlotte neighborhood (A+ rating), ranking 9th among 709 metro neighborhoods — competitive at the top of the market. Amenity access is a clear differentiator: restaurants and daily needs score in the top quartile nationally, with grocery, parks, pharmacies, and cafes all testing well above national norms. This concentration of services typically supports renter retention and weekday leasing activity for urban multifamily.
Renter demand depth is notable. The neighborhood shows a high share of renter-occupied housing (68.5%), indicating a large tenant base for multifamily operators. Neighborhood-level occupancy is 88.8% and has improved modestly over the last five years, which points to stable absorption even as new supply cycles. With a 2009 construction year, the asset is newer than the neighborhood average (2000), offering competitive positioning versus older stock while still warranting periodic system updates and common-area refreshes over a long hold.
Within a 3-mile radius, demographic trends point to ongoing renter pool expansion: population and households have grown materially over the last five years, with households rising at a faster pace. Forecasts through 2028 call for further population and household growth alongside a gradual shift toward smaller household sizes — dynamics that generally broaden the pool of one- and two-bedroom renters and support occupancy stability.
Ownership costs in the area are elevated relative to income benchmarks (above the 80th national percentile for home values and an elevated value-to-income ratio), which often sustains reliance on rental housing and can support pricing power for well-located assets. At the same time, rent-to-income readings track lower than many peer markets, which can reduce affordability pressure and aid lease management and retention strategies for professionally operated properties.
Safety outcomes are mixed and should be underwritten carefully. The neighborhood’s crime rank sits in the lower tier of the metro (574th among 709), indicating safety levels below both metro and national norms. That said, recent data show property-related incidents trending down year over year, which may reflect incremental improvement. Conditions can vary block to block; investors typically account for this with security design, lighting, and operational practices.
Proximity to major employers strengthens weekday demand and supports retention, particularly for professional and corporate renters. Nearby employment anchors include banking, utilities, technology, auto retail, and steel headquarters.
- Bank of America Corp. — financial services (0.6 miles) — HQ
- Duke Energy — utilities (0.9 miles) — HQ
- Cisco Systems — networking technology (1.7 miles)
- Sonic Automotive — auto retail (3.7 miles) — HQ
- Nucor — steel (4.4 miles) — HQ
This 82-unit, 2009-vintage asset benefits from a central Charlotte location with rare amenity density and a large renter-occupied housing base. Neighborhood-level occupancy has risen over the past five years, and ownership costs remain elevated relative to incomes — factors that typically sustain multifamily demand and support pricing for well-managed properties. Based on CRE market data from WDSuite, the neighborhood ranks among the metro’s top performers for amenities and sits above many national benchmarks investors track for urban livability.
Forward-looking fundamentals are reinforced by 3-mile demographic trends showing continued population and household growth and a gradual shift toward smaller household sizes, which broadens demand for mid-size units. As a newer product relative to neighborhood stock, the property should compete well versus older assets, with value-add potential focused on targeted modernization, common areas, and energy systems over time.
- Central Charlotte location with top-tier amenity access supports retention and leasing velocity.
- High renter-occupied share and improving neighborhood occupancy indicate a deep, durable tenant base.
- 2009 vintage offers competitive positioning versus older stock with selective modernization upside.
- Risk: Safety ranks below metro and national norms; underwriting should include security design and operating measures.