| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 53rd | Fair |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4800 Avenida Del Sol Dr, Raleigh, NC, 27616, US |
| Region / Metro | Raleigh |
| Year of Construction | 2003 |
| Units | 24 |
| Transaction Date | 2005-07-08 |
| Transaction Price | $1,800,000 |
| Buyer | SPACE STATION INC |
| Seller | ROBCOR LLC |
4800 Avenida Del Sol Dr Raleigh Multifamily Opportunity
Positioned in an inner-suburban Raleigh submarket with deep renter concentration, the asset benefits from steady neighborhood renter demand and newer relative vintage, according to CRE market data from WDSuite. Investors should note softer neighborhood occupancy trends and underwrite leasing assumptions accordingly.
This inner-suburban location offers day-to-day convenience anchored by strong grocery access and dining density. The neighborhood ranks in the top quartile among 331 Raleigh–Cary neighborhoods for grocery availability and restaurants, supporting resident retention and lease-up, while cafe and park options are limited. Compared with metro peers, the broader amenity mix is above the metro median but not a lifestyle node, which suggests stable, workforce-oriented renter appeal rather than premium amenity-driven demand.
The property’s 2003 construction is newer than the neighborhood’s average 1981 vintage, which can enhance competitiveness versus older stock. Investors should still plan for mid-cycle system updates and selective renovations to sustain rent positioning and operating efficiency.
Neighborhood occupancy is below the metro median, and WDSuite’s CRE market data indicates a five-year softening in occupancy. However, renter-occupied housing is high for the neighborhood, signaling a large tenant base that can support leasing velocity when pricing and amenities are calibrated to local demand.
Within a 3-mile radius, demographics show a modest population dip recently but projected growth over the next five years, alongside a notably higher household count forecast and smaller average household sizes. This points to a larger renter pool over time and supports potential occupancy stability, especially for efficiently sized units. Household incomes in the 3-mile area have trended upward, which can aid collections and measured rent growth if managed alongside rent-to-income affordability to limit retention risk.
Ownership costs are relatively elevated in context of local incomes compared with many U.S. neighborhoods, reinforcing reliance on multifamily rentals. Median contract rents benchmark in the upper half nationally, suggesting room for disciplined rent strategies while keeping an eye on affordability pressure and competitive supply in the metro.
Safety conditions should be underwritten with care. Relative to U.S. neighborhoods, WDSuite indicates this area sits below the national safety median, and within the Raleigh–Cary metro it ranks in the lower half (191 out of 331 neighborhoods). That said, estimated property offenses have declined year over year, indicating some recent improvement in trend.
Violent offense rates benchmark weaker than national norms, and investors should incorporate prudent security measures and tenant-screening practices into operating plans. Use submarket comparables rather than block-level assumptions, and align leasing and design choices (lighting, access control) to support resident confidence and retention.
Proximity to major corporate campuses in and around Research Triangle Park supports a broad professional workforce renter base. Key nearby employers include MetLife, AmerisourceBergen, John Deere’s training center, and Quintiles (IQVIA), which collectively underpin commuter demand and lease retention.
- MetLife — insurance (12.7 miles)
- MetLife Auto & Home Craig Conley LUTCF — insurance services (13.4 miles)
- AmerisourceBergen — pharmaceutical distribution (13.9 miles)
- John Deere Morrisville Training Center — equipment training facility (14.1 miles)
- Quintiles Transnational Holdings — life sciences (14.9 miles) — HQ
Built in 2003 with 24 units averaging approximately 532 square feet, the property skews newer than the neighborhood’s typical 1980s stock, offering a relative competitive edge versus older assets while still warranting targeted system updates and light value-add. The immediate neighborhood shows strong renter concentration and solid access to daily-needs retail and restaurants, though overall occupancy has trended softer; disciplined leasing and renewal management will be important. According to CRE market data from WDSuite, national benchmarks place local rents in the upper half and ownership costs relatively high versus incomes, which tends to sustain renter reliance on multifamily housing.
Within a 3-mile radius, WDSuite points to rising household counts and projected population growth, alongside smaller average household sizes over the next five years—conditions that typically expand the renter pool and support occupancy stability. Balancing this with prudent affordability management (rent-to-income) and attention to neighborhood safety trends can help preserve retention and pricing power in line with metro comparables.
- Newer 2003 vintage versus local average, with potential for selective value-add and operational upgrades.
- Strong neighborhood renter concentration supports tenant base depth and leasing velocity.
- Daily-needs retail and dining density underpin resident convenience and renewal potential.
- 3-mile outlook shows household growth and smaller household sizes, expanding the renter pool.
- Risks: below-metro occupancy and weaker safety benchmarks call for conservative underwriting and active management.