4204 Reavis RD, Raleigh, NC 27606
4204 Reavis RD, Raleigh, NC 27606
4204 Reavis RD, Raleigh, NC 27606
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Listed by Compass -- Raleigh
$4,950,000
Est. payment /mo
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32 Beds
40 Baths
13,600 SqFt
New

4204 Reavis RD Raleigh, NC 27606

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Steele Residential

Steele Residential

+1(919) 971-0346

UPDATED:

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 13,600 sqft

Price per Sqft $363

Subdivision To Be Added

MLS Listing ID 10190772

Bedrooms 32

Full Baths 32

Half Baths 8

HOA Y/N No

Year Built 2026

Annual Tax Amount $2,272

Property Sub-Type Apartment

Source Doorify MLS

Land Area 13600

Property Description

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 2026-2027 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

Location

State NC

County Wake

Community To Be Added

Zoning R-10

Interior

Interior Features Apartment/Suite, Bathtub/Shower Combination, Ceiling Fan(s), Eat-in Kitchen, High Ceilings, High Speed Internet, Kitchen Island, Kitchen/Dining Room Combination, Living/Dining Room Combination, Open Floorplan, Primary Downstairs, Recessed Lighting

Cooling Central Air

Flooring Luxury Vinyl

Fireplace No

Appliance Dryer, Range, Washer, Freezer, Disposal, Microwave, Dishwasher, Washer/Dryer

Laundry In Unit

Exterior

Exterior Feature Awning(s), Lighting, Private Entrance, Rain Gutters

Parking Features Garage, Garage Door Opener, Lighted, Off Street, On Site, Paved, Private, Secured

Garage Spaces 32.0

Community Features Curbs, Sidewalks, Street Lights

Roof Type Shingle

Total Parking Spaces 32

Garage Yes

Building

Story Tri-Level

Foundation Slab

Water Public

New Construction Yes

Others

Tax ID 079417000987000 0014709

Security Features Smoke Detector(s)

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Doorify MLS

NEARBY SCHOOL & BUSINESS

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Steele Residential

Steele Residential

Real Estate Firm License ID: C28905

+1(919) 971-0346

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4204 Reavis RD