| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 60th | Fair |
| Amenities | 22nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2505 Red Lodge Pl, Raleigh, NC, 27603, US |
| Region / Metro | Raleigh |
| Year of Construction | 2012 |
| Units | 72 |
| Transaction Date | 2019-09-16 |
| Transaction Price | $22,056,000 |
| Buyer | UV NC Student Housing DST |
| Seller | UV 2505 LL, LLC, Private Investor, The Preiss Company, Price/unit and /sf |
2505 Red Lodge Pl Raleigh Multifamily Investment
2012 construction and larger-than-typical unit sizes position this 72-unit asset competitively versus older local stock, with a high neighborhood renter-occupied share supporting demand, according to WDSuite’s CRE market data.
Situated in an inner-suburb pocket of Raleigh, the area balances daily needs access with a quieter residential feel. Grocery access is competitive among 331 Raleigh neighborhoods (top quartile locally and above national norms), while restaurants are present at moderate levels. Cafés, parks, and pharmacies are limited nearby, so residents rely more on groceries and regional retail for day-to-day convenience.
Neighborhood rent levels benchmark above many areas nationally, while the local occupancy rate trends softer than stronger Raleigh submarkets. This suggests leasing remains competitive, but stable rent-to-income dynamics indicate manageable affordability pressure, aiding renewal potential for well-managed assets.
Renter-occupied share in the neighborhood is elevated versus national norms, signaling a deeper tenant base and steady multifamily demand. For investors, higher renter concentration typically supports leasing velocity and marketing efficiency across cycles.
Within a 3-mile radius, households have increased even as population edged lower, and projections indicate further household growth alongside smaller average household sizes by 2028. This shift expands the renter pool and supports occupancy stability for appropriately positioned multifamily assets.
Relative to neighborhoods nationwide, this area trends below average on safety metrics and trails many Raleigh submarkets. Recent year-over-year readings indicate some volatility, so investors should plan for prudent security measures and thoughtful resident-experience programming.
Positioning the asset with lighting, access controls, and community engagement can help support retention and mitigate perception risk, especially when competing against submarkets with stronger safety profiles in the metro.
Proximity to diversified employment in insurance, life sciences, healthcare distribution, and advanced manufacturing supports renter demand and commute convenience for workforce households. The nearby employers below anchor job density that can bolster leasing and retention.
- Erie Insurance Group — insurance (7.2 miles)
- MetLife — insurance (9.0 miles)
- John Deere Morrisville Training Center — advanced manufacturing training (10.5 miles)
- Amerisource Bergen — healthcare distribution (10.9 miles)
- Quintiles Transnational Holdings — life sciences/clinical research (13.0 miles) — HQ
Built in 2012, the property competes well against older neighborhood stock and its large average unit sizes support family and roommate demand, which can aid lease retention. Elevated neighborhood renter concentration and a growing 3-mile household base point to durable demand depth, while NOI per unit levels in the area compare well nationally, according to CRE market data from WDSuite.
Leasing remains competitive given softer neighborhood occupancy and limited lifestyle amenities in the immediate vicinity, but balanced rent-to-income dynamics and proximity to diversified employment nodes provide a foundation for steady performance. Targeted operational execution and selective upgrades can position the asset to capture renewals and maintain pricing power relative to comparable vintage product.
- 2012 vintage with large unit sizes enhances competitive positioning versus older local stock
- Elevated renter-occupied share and growing 3-mile household base support demand depth
- Diversified nearby employers underpin leasing and retention potential
- Balanced rent-to-income dynamics help manage retention and pricing decisions
- Risk: softer neighborhood occupancy and limited amenities require focused marketing, security, and resident-experience investments