4204 Reavis RD Raleigh, NC 27606 New

UPDATED: 09/04/2026 02:40 PM ON MARKET: 3 days on market

$4,950,000

32 Beds40 Baths13,600 SqFt

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


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Data last updated: 09/07/2026 09:48