| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 60th | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8605 Sandy Spring Ln, Charlotte, NC, 28213, US |
| Region / Metro | Charlotte |
| Year of Construction | 2013 |
| Units | 24 |
| Transaction Date | 2015-02-18 |
| Transaction Price | $26,400,000 |
| Buyer | AG-ECP BELLE HAVEN OWNER LP |
| Seller | BEL HAVEN LIMITED PARTNERSHIP |
8605 Sandy Spring Ln Charlotte Multifamily Investment
Renter demand is supported by an A-rated inner-suburb location and a high neighborhood renter-occupied share, according to WDSuite’s CRE market data. Household growth in the surrounding area points to a deeper tenant base and potential for steady leasing.
This A-rated Inner Suburb ranks 86th among 709 Charlotte metro neighborhoods, placing it in the top quartile locally. Restaurants, groceries, and pharmacies are comparatively accessible (each above national midrange), while parks and cafes are limited—an amenity mix that favors daily convenience over leisure space.
The neighborhood s housing stock skews renter-oriented, with a high share of units renter-occupied. For investors, that depth of renter households supports multifamily demand and helps sustain leasing activity across cycles. Neighborhood occupancy trends sit near national midrange, suggesting competitively leased product can perform, but asset-level execution remains important.
Within a 3-mile radius, population has expanded recently and households have grown faster than population, indicating smaller household sizes and more households entering the market both constructive for multifamily demand. Forecasts point to additional growth in households by 2028, which can widen the renter pool and support occupancy stability.
Ownership costs are elevated relative to local incomes home value-to-income ratios track high nationally which tends to reinforce reliance on rental housing. Median contract rents in the 3-mile area have risen and are projected to continue growing, but neighborhood rent-to-income levels indicate some affordability pressure, so revenue management and retention strategies remain key.
Safety indicators for the neighborhood track below national averages, with violent and property offense measures in lower national percentiles. However, property offenses show a notable year-over-year decline, according to WDSuite s CRE market data, which suggests recent improvement in reported incidents. Investors should underwrite operational measures (lighting, access control, and insurance assumptions) commensurate with a submarket that is improving but still trails national safety benchmarks.
Proximity to major corporate employers supports a broad commuter tenant base and can aid retention for workforce and professional renters. Nearby anchors include Merck, Bank of America, Duke Energy, Sonic Automotive, and Cisco Systems.
- Merck pharmaceuticals (3.8 miles)
- Bank of America Corp. banking (7.4 miles) HQ
- Duke Energy utilities (7.8 miles) HQ
- Sonic Automotive auto retail (8.3 miles) HQ
- Cisco Systems technology (8.8 miles)
Built in 2013, the property is newer than the neighborhood s late-1990s average vintage, offering a more competitive starting point versus older stock while still warranting ongoing systems planning typical of early-2010s assets. Renter concentration in the neighborhood is high, and household growth within a 3-mile radius expands the tenant base, supporting occupancy stability and lease-up resilience. According to CRE market data from WDSuite, neighborhood occupancy trends sit near national midrange, so performance is likely to hinge on asset condition, pricing, and management.
The location s daily conveniences (restaurants, groceries, pharmacies) compare favorably to national norms, though parks and cafes are limited. Elevated ownership costs relative to incomes reinforce reliance on rental housing, but neighborhood rent-to-income levels suggest affordability pressure that calls for disciplined revenue management and resident retention strategies.
- 2013 vintage offers competitive positioning versus older area stock with manageable modernization planning
- High renter-occupied share and 3-mile household growth deepen the tenant base
- Convenience-rich setting (restaurants, groceries, pharmacies) supports everyday livability for renters
- Elevated ownership costs bolster rental demand relative to for-sale options
- Risks: below-national safety percentiles, midrange occupancy, and rent-to-income pressure require prudent underwriting