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4204 Reavis Road

Raleigh NC 27606

32
40
32
13600 sq. ft.
Apartment
Currently for sale - view listing

Overview

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

Features

32 bedrooms
40 bathrooms
32 carspaces
20 garage spaces
13600 sq. ft. floor area
Apartment

Property history for 4204 Reavis Road

2025
Sold
$800,000
29 Apr 2025 by Matthew Tomasulo, of Elm Partners
2024
Sold
$445,000
03 Apr 2024 by Wanda Burns-Ramsey, of Howard Perry & Walston Realtor

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Local market activity for 32 bedroom apartments in Raleigh

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