| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 61st | Good |
| Amenities | 21st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1700 Chambers Dr, Matthews, NC, 28105, US |
| Region / Metro | Matthews |
| Year of Construction | 1987 |
| Units | 100 |
| Transaction Date | 2008-01-01 |
| Transaction Price | $6,400,000 |
| Buyer | Berkshire Property Advisors |
| Seller | HVMcCoy & Co. |
1700 Chambers Dr Matthews Multifamily Investment Opportunity
Neighborhood occupancy trends are solid and have outperformed many suburban peers in recent years, according to WDSuite’s CRE market data, supporting stable leasing for a 100‑unit asset. With suburban fundamentals holding, investors can underwrite steady renter demand while planning targeted upgrades.
This suburban Matthews location offers everyday convenience more than lifestyle flair. Grocery access is comparatively strong versus national norms, while restaurants are present but not dense; parks, cafes, childcare, and pharmacies are limited nearby. School quality sits modestly above national medians (average rating 3.0; 61st percentile), which can aid family retention without commanding top-tier premiums.
The neighborhood records an occupancy level that places it in the top quartile nationally and above many Charlotte-Concord-Gastonia, NC-SC submarket readings, helping underpin cash flow durability through cycles. Within 3 miles, demographics indicate a high-income renter base relative to national norms, with a median household income near six figures and a rent-to-income ratio around 19%, suggesting manageable affordability pressure and potential for steady renewals.
Tenure patterns within a 3-mile radius show roughly one-third of housing units are renter-occupied, providing a meaningful, diversified tenant base without oversaturation. Home values are elevated in a regional context, which can sustain reliance on multifamily housing and support pricing power, though operators should calibrate rent growth to preserve lease retention.
Vintage context: the property was built in 1987, slightly older than the neighborhood’s average construction year (1990; rank 248 of 709 metro neighborhoods). For investors, this typically points to capital planning for systems and common areas, alongside value‑add potential to compete effectively against newer stock.
Comparable neighborhood-level crime metrics are not available in WDSuite for this location, so investors should rely on broader city and county reporting and trend comparisons when assessing safety. Avoid block-level conclusions; instead, evaluate multi-year patterns and how they compare to regional norms to inform underwriting assumptions.
Nearby employers span auto retail headquarters, steel, banking, networking, and industrial gases, supporting a diverse commuter base and helping stabilize renter demand through varied economic cycles.
- Sonic Automotive — auto retail (7.1 miles) — HQ
- Nucor — steel (8.5 miles) — HQ
- Bank of America Corp. — banking (11.2 miles) — HQ
- Airgas — industrial gases (11.3 miles)
- Cisco Systems — networking (11.3 miles)
1700 Chambers Dr is a 100‑unit, 1987-vintage asset positioned in a suburban Matthews neighborhood where occupancy is strong and renter incomes are comparatively high versus national benchmarks. According to commercial real estate analysis from WDSuite, the area’s grocery access and restaurant presence, coupled with elevated ownership costs, help sustain multifamily demand and support retention, while limited parks and lifestyle amenities argue for value‑oriented positioning.
The 1987 construction suggests targeted capex can unlock value—modernizing interiors, addressing aging systems, and sharpening curb appeal to stay competitive with newer stock. Forward-looking 3‑mile demographics point to a larger household base by 2028, which can expand the tenant pool and reinforce occupancy stability if operators balance rent growth with affordability.
- Occupancy strength supports cash flow stability relative to many suburban peers
- Elevated ownership costs in the area reinforce reliance on rentals and pricing power
- 1987 vintage offers value‑add upside via unit refreshes and system upgrades
- 3‑mile household growth outlook expands the renter base and supports leasing
- Risks: limited nearby lifestyle amenities and potential capex for older building systems