| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 58th | Good |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12619 Sabal Park Dr, Pineville, NC, 28134, US |
| Region / Metro | Pineville |
| Year of Construction | 1989 |
| Units | 20 |
| Transaction Date | 1997-12-31 |
| Transaction Price | $4,376,500 |
| Buyer | WESTDALE INTERSTATE PROPERTIES LTD |
| Seller | GLENBOROUGH FUND VI LLC |
12619 Sabal Park Dr Pineville Multifamily Investment Thesis
Neighborhood fundamentals show competitive positioning with steady occupancy and a relatively high renter-occupied share at the neighborhood level, according to WDSuite’s CRE market data.
Pineville’s inner-suburb location places the property within a neighborhood rated B+ and ranked 217 out of 709 across the Charlotte metro — competitive among Charlotte-Concord-Gastonia neighborhoods. Neighborhood-level occupancy trends sit around national norms, which supports stable leasing, while a higher renter-occupied share signals a deeper tenant base for multifamily operators.
Everyday convenience is solid: park access ranks in the top quartile nationally and cafe density is competitive versus U.S. neighborhoods. Public school ratings average around mid-3s on a five-point scale, positioning the area slightly above national norms. Retail and services are augmented by larger employment and amenity nodes across south Charlotte, enhancing location fundamentals without overreliance on any single corridor.
At the neighborhood level, asking rents are positioned above many U.S. areas, while rent-to-income appears relatively manageable compared with national benchmarks — a profile that can support retention even as operators pursue measured rent growth. Median home values and a value-to-income ratio around the upper national quartiles indicate a higher-cost ownership market locally, which tends to reinforce renter reliance on multifamily housing and can underpin pricing power when managed carefully.
Demographic statistics aggregated within a 3-mile radius indicate recent population and household growth, with projections calling for further increases in households through 2028. That expansion points to a larger tenant base and supports occupancy stability over the medium term for well-operated assets.
Vintage matters: built in 1989, the property is newer than the neighborhood’s average construction year (1973). That relative positioning can be a competitive advantage versus older stock, while investors should still plan for modernization of aging systems and select value-add upgrades to align with tenant preferences.
Safety indicators compare favorably at a national level. The neighborhood scores in the upper percentiles nationwide for lower violent and property offense rates, placing it in the top quartile nationally compared with U.S. neighborhoods. Recent year trends show improvement, which supports resident retention and leasing stability when coupled with professional on-site management.
As with any submarket, conditions can vary by block and over time. Investors should evaluate current property-level measures and engage local data and management insights alongside these neighborhood-level indicators from WDSuite.
Proximity to major employers across south Charlotte underpins renter demand, with a mix of headquarters and corporate offices supporting diverse white-collar and operations roles that favor commute convenience.
- Nucor — steel producer HQ (6.5 miles) — HQ
- Airgas — industrial gases offices (6.5 miles)
- Sonic Automotive — auto retail HQ (8.6 miles) — HQ
- AmerisourceBergen Healthcare Consultants — healthcare services (9.0 miles)
- Cisco Systems — technology offices (9.5 miles)
- Duke Energy — utilities HQ (10.5 miles) — HQ
- Bank of America Corp. — financial services HQ (10.8 miles) — HQ
This 1989-vintage, 20-unit multifamily asset is positioned in a competitive Charlotte metro neighborhood where occupancy trends are steady and the renter-occupied share is elevated, supporting depth of tenant demand. Location fundamentals are reinforced by parks access and proximity to major employers, while neighborhood rents sit above many U.S. areas but remain relatively manageable versus income benchmarks — a setup that can aid retention and measured rent growth.
According to CRE market data from WDSuite, the neighborhood ranks competitively within the metro and posts upper-quartile national standing on several safety indicators. Demographic statistics within a 3-mile radius show recent growth and projected household expansion through 2028, pointing to a larger renter pool over time. Given the 1989 vintage, investors should underwrite ongoing system updates and targeted interior upgrades to sharpen competitive positioning against newer deliveries.
- Competitive metro rank with steady neighborhood occupancy supports leasing stability
- Elevated renter-occupied share indicates a deeper tenant base for multifamily
- Parks access and proximity to major employers bolster location fundamentals
- Rents above many U.S. areas but relatively manageable versus income support retention
- Risks: 1989 systems may require capex; rent growth should be balanced against affordability and new supply