| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 77th | Best |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 908 Summit Walk Dr, Charlotte, NC, 28270, US |
| Region / Metro | Charlotte |
| Year of Construction | 1986 |
| Units | 98 |
| Transaction Date | 2012-03-01 |
| Transaction Price | $6,000,000 |
| Buyer | Laurel Walk Apatments, LLC |
| Seller | IRT Partners, LP |
908 Summit Walk Dr Charlotte Multifamily Investment
Occupancy in the surrounding neighborhood sits in the mid-90s and has trended higher over the past five years, supporting stable cash flow, according to WDSuite’s CRE market data. Elevated local home values further reinforce renter demand relative to ownership.
This suburban Charlotte location balances quiet residential living with access to regional job centers. Neighborhood amenities score above the metro median among 709 neighborhoods, and park access ranks in the top quartile nationally, while childcare density is comparatively strong. Food-and-beverage options within the immediate neighborhood are limited, so residents typically draw on nearby corridors for dining and grocery needs.
Vintage is 1986, newer than the neighborhood’s typical 1970s housing stock. That positioning can be competitive versus older assets, though investors should anticipate selective modernization of common areas and building systems to support rent resilience and leasing velocity.
Renter-occupied share is meaningful at the neighborhood level, and within a 3-mile radius renters account for roughly one-third of housing units—an indicator of a sizable tenant base. Median contract rents are in the upper tier for Charlotte neighborhoods and the rent-to-income ratio is moderate, which can aid lease retention. Elevated home values locally suggest a high-cost ownership market, reinforcing reliance on multifamily housing and supporting pricing power. These observations are grounded in WDSuite’s multifamily property research.
Demographics aggregated within a 3-mile radius show modest recent population and household growth with projections calling for further renter pool expansion by 2028. Combined with neighborhood occupancy in the mid-90s, these trends support demand stability, though leasing strategies should account for pockets of affordability pressure as rents trend upward.
Safety indicators are close to the metro median (ranked near the midpoint among 709 Charlotte-area neighborhoods). Compared with neighborhoods nationwide, the area sits below the national median for safety; however, recent data show property offenses easing slightly year over year, while violent offenses ticked up modestly. Investors should underwrite with standard operating protocols and consider security design and lighting as part of value-add scopes.
Proximity to major corporate employers supports diversified renter demand and commute convenience, notably Sonic Automotive, Nucor, Airgas, Cisco Systems, and Duke Energy.
- Sonic Automotive — corporate offices (3.2 miles) — HQ
- Nucor — corporate offices (3.5 miles) — HQ
- Airgas — corporate offices (6.4 miles)
- Cisco Systems — corporate offices (7.0 miles)
- Duke Energy — corporate offices (7.3 miles) — HQ
908 Summit Walk Dr offers a 98-unit, 1986-vintage asset in a suburban Charlotte neighborhood where occupancy is in the mid-90s and trending upward, pointing to stable in-place demand. High home values in the area tilt households toward renting, while a moderate rent-to-income profile supports retention and measured pricing power. Based on commercial real estate analysis from WDSuite, the property’s vintage is relatively newer than surrounding inventory, which can be competitive versus older stock while still benefiting from targeted modernization to capture upside.
Within a 3-mile radius, demographics indicate modest recent growth with stronger gains projected through 2028, expanding the tenant base against a backdrop of limited immediate retail/restaurant options but strong regional connectivity and access to major employers. Underwriting should reflect steady demand with prudent allowances for operating improvements and select capex.
- Occupancy in the mid-90s with five-year improvement supports cash flow stability.
- High local home values reinforce renter reliance on multifamily, aiding pricing power and lease retention.
- 1986 vintage is newer than nearby stock, with value-add potential via selective modernization.
- 3-mile radius shows population and household expansion through 2028, enlarging the tenant base.
- Risks: below-national-median safety and limited immediate dining/grocery options require active asset and operations management.