4204 Reavis Road
Property Description
Newly constructed student housing investment opportunity adjacent to NC 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, 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
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $4,950,000 |
| No. of Units: | 8 |
| Year Built: | 2026 |
| Lot Size: | 13,600.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $618,750 |
| Property Website | Click Here |
| Number of Bedrooms: | 32 |
| Number of Bathrooms: | 36 |
ID: 3yd-TRIANGLE-10190772
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