| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 82nd | Best |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 902 W 4th St, Charlotte, NC, 28202, US |
| Region / Metro | Charlotte |
| Year of Construction | 2013 |
| Units | 100 |
| Transaction Date | 2011-12-14 |
| Transaction Price | $2,309,485 |
| Buyer | GATEWAY WEST FCA LLC |
| Seller | CAPITAL BANK N A |
902 W 4th St, Charlotte NC Multifamily Investment
Renter concentration in the surrounding neighborhood and strong nearby employment nodes support a durable tenant base, according to WDSuite’s CRE market data. While occupancy in the neighborhood has moderated, location fundamentals and proximity to Uptown position the asset for consistent leasing.
Located in Charlotte’s Inner Suburb near Uptown, the property benefits from dining density and daily-needs access. Restaurant availability ranks competitive among Charlotte-Concord-Gastonia neighborhoods (6th of 709; 98th percentile nationally), and pharmacy access is similarly strong (6th of 709; 97th percentile nationally). Grocery access is above metro median (44th of 709; 89th percentile nationally). By contrast, neighborhood park and cafe counts are limited, which may constrain lifestyle appeal for some residents but can be offset by broader urban amenities nearby.
Renter-occupied housing makes up a significant share of units within the neighborhood (55.7%; 82nd of 709, top quartile among metro neighborhoods). This indicates depth in the tenant base and supports leasing velocity for multifamily assets. Neighborhood asking rents trend on the higher side relative to national levels (87th percentile), reinforcing pricing power where product quality and management execution are strong.
Demographic statistics aggregated within a 3-mile radius point to a growing renter pool: population increased by roughly mid-teens over the last five years and households expanded by about one-third, with forecasts calling for further growth through 2028. A 3-mile renter concentration near six in ten households and rising median incomes suggest continued demand for professionally managed apartments, supporting occupancy stability and renewal potential.
Home values in the neighborhood are elevated versus many U.S. areas (73rd percentile nationally), and the value-to-income ratio sits above mid-range. In practice, this high-cost ownership market helps sustain reliance on rental housing, which can aid retention and support steady absorption, especially for well-located assets near employment and transit corridors.
The asset’s 2013 construction is newer than the neighborhood average vintage (1997). Newer construction typically competes well against older stock and may reduce near-term capital expenditure needs, though investors should still plan for ongoing system maintenance and selective modernization to maintain positioning as new supply delivers.
Safety indicators are mixed and should be monitored. The neighborhood’s overall crime positioning sits below the metro median (410th among 709 Charlotte-area neighborhoods) and below average nationally (36th percentile). Property-related offenses trend unfavorably versus national comparisons (low national percentile), while recent violent offense trends show improvement, with year-over-year declines placing the area above many U.S. neighborhoods by that measure (73rd percentile nationally).
For underwriting, this profile suggests prudent security measures and resident experience investments may be warranted, while recognizing that the recent directional improvement in violent offense rates is a constructive signal. As always, conditions can vary by block and over time; investors should evaluate up-to-date local data and management practices.
Proximity to Uptown anchors a diverse employment base that supports renter demand and commute convenience. Major nearby employers include Duke Energy, Bank of America, Cisco Systems, AmerisourceBergen, and Airgas.
- Duke Energy — utilities HQ (0.67 miles) — HQ
- Bank of America Corp. — financial services HQ (0.73 miles) — HQ
- Cisco Systems — technology offices (1.56 miles)
- AmerisourceBergen Healthcare Consultants — healthcare services (4.27 miles)
- Airgas — industrial gases offices (4.81 miles)
This 100-unit, 2013-vintage asset sits near Uptown Charlotte, drawing on a deep renter pool and strong employment access. Neighborhood rents price above national norms and the share of renter-occupied units is high, supporting absorption and renewals when paired with effective operations. Based on CRE market data from WDSuite, amenity access for restaurants, pharmacies, and groceries is a relative strength, while parks and cafes are less prevalent locally. The newer vintage should compare favorably to older neighborhood stock, with ongoing maintenance and selective upgrades sustaining competitive positioning.
Within a 3-mile radius, population and household growth, rising incomes, and a majority-renter tenure point to continued multifamily demand. Crime indicators are mixed—property offenses warrant attention—yet recent improvement in violent offense trends and the central location near major employers can support leasing stability with appropriate security and resident-experience strategies.
- Central location near Uptown and major employers supports leasing and renewals.
- 2013 construction offers competitive positioning versus older area stock with manageable capital planning.
- Strong neighborhood amenity access (restaurants, pharmacies, groceries) underpins day-to-day livability.
- 3-mile population and household growth and majority-renter tenure indicate depth of tenant demand.
- Risk: below-metro safety positioning and limited parks/cafes call for thoughtful security and resident programming.