| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 93rd | Best |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10610 Westgate Club Dr, Raleigh, NC, 27617, US |
| Region / Metro | Raleigh |
| Year of Construction | 2003 |
| Units | 20 |
| Transaction Date | 2019-10-23 |
| Transaction Price | $51,500,000 |
| Buyer | WATERFORD RINO LLC |
| Seller | CBC PARTNERS LLC |
10610 Westgate Club Dr Raleigh 20-Unit Multifamily
Inner-suburban fundamentals support steady renter demand, with neighborhood occupancy trending above the metro median and a high renter concentration that deepens the tenant base, according to WDSuite s commercial real estate analysis.
Located in an inner suburb of Raleigh, the neighborhood scores A+ overall and places first among 331 metro neighborhoods, pointing to strong livability fundamentals for multifamily investors. Amenity access is a clear strength: cafes, restaurants, groceries, parks, and pharmacies all rank in the higher national percentiles, which supports leasing velocity and day-to-day convenience.
Renter demand signals are constructive. The neighborhood s occupancy rate sits above the metro median (rank 162 of 331), and the share of renter-occupied housing units is high (nationally strong), indicating a deep pool of prospective tenants and potential for retention. Median contract rents in the area are positioned in the upper national percentiles while the rent-to-income ratio is moderate, suggesting manageable affordability pressure and room for disciplined pricing without overextending residents.
Within a 3-mile radius, demographics show population and household expansion over the past five years, with additional gains projected, implying a larger tenant base ahead. Household incomes in the radius are solid and rising, which can support stabilized occupancy and measured rent growth. These trends, based on CRE market data from WDSuite, align with investor interest in professionally managed, amenity-rich suburban product.
Home values in the neighborhood are elevated relative to national norms. In a high-cost ownership market, multifamily provides more accessible housing options, which can sustain rental demand and support lease retention. Investors should still underwrite to local competitive supply, but the combination of strong amenities, income depth, and renter concentration is favorable for multifamily absorption.
Safety indicators trend weaker than national averages, and the neighborhood ranks below the metro median on crime (178 of 331). Nationally, property and violent offense measures are in lower safety percentiles, so investors should account for this in underwriting, operations, and security planning.
That said, recent data point to a year-over-year decline in estimated property offenses, indicating some improvement in trend. For context, these metrics reflect neighborhood-level patterns rather than conditions specific to any single property. Monitoring ongoing trajectory and adopting practical on-site measures can help support resident retention.
Proximity to life sciences, tech, and corporate services employers supports a diversified workforce renter base and commute convenience. Notable nearby employers include Quintiles, AmerisourceBergen, Biogen, John Deere s training center, and Cisco Systems.
- Quintiles Transnational Holdings clinical research (3.5 miles) HQ
- Amerisource Bergen pharmaceutical distribution (4.9 miles)
- Biogen Idec biotech (5.5 miles)
- John Deere Morrisville Training Center industrial equipment training (5.5 miles)
- Cisco Systems, Building 8 networking & software offices (5.9 miles)
This 20-unit asset sits in a top-rated inner-suburban Raleigh neighborhood with strong amenity access and income depth. Neighborhood occupancy trends are above the metro median, the renter-occupied share is high by national standards, and elevated ownership costs help sustain reliance on multifamily housing. Within a 3-mile radius, population and households have expanded and are projected to continue growing, supporting a larger tenant base and ongoing absorption.
According to CRE market data from WDSuite, area rents are positioned in higher national percentiles while rent-to-income levels remain moderate, which supports retention and measured pricing power. Key considerations include neighborhood safety metrics that trail national averages, warranting prudent operational controls. Overall, fundamentals point to stable demand drivers with potential for disciplined revenue management.
- Amenity-rich inner suburb with A+ neighborhood rating and first out of 331 metro rank
- Above-metro-median neighborhood occupancy and nationally high renter concentration support demand depth
- Elevated ownership costs reinforce rental reliance and lease retention potential
- 3-mile radius shows growing population and households, expanding the tenant base
- Risk: Safety metrics lag national averages plan for security and resident experience investments