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4204 Reavis Rd
Raleigh, NC 27606
Eight@State | New Construction Investment · Multifamily Property For Sale
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8 Units
Investment Highlights
- New construction student housing community (8 townhomes / 32 beds)
- Walk/bike to NC State University with excellent access to Downtown Raleigh and major commuter routes
- 6.0% cap rate at current asking price based on ~$950/bed market rents
Executive Summary
Newly constructed student housing investment opportunity adjacent to NC State. Eight@State consists of eight purpose-built 4-bedroom, 4.5-bath townhomes (32 beds total) designed for strong student rental demand, with private bathrooms for every bedroom, attached garages, modern finishes, stainless steel appliances, in-unit washer/dryer, and low-maintenance construction.
The property is already 50% leased for the 2027-2028 academic year, including three student leases and one developer-leased model home, providing immediate leasing momentum while allowing investors to complete lease-up ahead of the school year.
Offered at $4,950,000, the asset is projected to achieve a 6.0% cap rate based on current market rental expectations of approximately $950 per bedroom per month. Located just minutes from NC State University with convenient access to Downtown Raleigh, I-440, shopping, dining, and public transit, Eight@State offers investors the opportunity to acquire a newly delivered, institutional-quality student housing asset with minimal deferred maintenance and significant long-term rental demand.34
The property is already 50% leased for the 2027-2028 academic year, including three student leases and one developer-leased model home, providing immediate leasing momentum while allowing investors to complete lease-up ahead of the school year.
Offered at $4,950,000, the asset is projected to achieve a 6.0% cap rate based on current market rental expectations of approximately $950 per bedroom per month. Located just minutes from NC State University with convenient access to Downtown Raleigh, I-440, shopping, dining, and public transit, Eight@State offers investors the opportunity to acquire a newly delivered, institutional-quality student housing asset with minimal deferred maintenance and significant long-term rental demand.34
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Family Room
- Freezer
- Island Kitchen
- Large Bedrooms
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+4.5 | 8 | $1,350 CAD | 1,783 |
Property Taxes
| Parcel Number | 0794.17-00-0987-000 | Improvements Assessment | $256,029 CAD |
| Land Assessment | $355,165 CAD | Total Assessment | $611,194 CAD |
Property Taxes
Parcel Number
0794.17-00-0987-000
Land Assessment
$355,165 CAD
Improvements Assessment
$256,029 CAD
Total Assessment
$611,194 CAD
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