4204 Reavis Road, Raleigh, NC 27606

Raleigh
Local realty services provided by:Better Homes and Gardens Real Estate Paracle
4204 Reavis Road,Raleigh, NC 27606
$4,950,000
  • 32 Beds
  • 40 Baths
  • 13,600 sq. ft.
  • Multi-family
  • Active
Listed by: johnny chappell, maggie sparling
Office: compass -- raleigh
MLS#:10190772
Source:RD

Price summary

  • Price:$4,950,000
  • Price per sq. ft.:$363.97

About this home

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,...

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Home facts

  • Year built:2026
  • Subdivision & Development:To Be Added
  • Listing ID #:10190772
  • Added:60 day(s) ago
  • Updated:November 03, 2026 at 04:17 PM

Rooms and interior

  • Bedrooms:32
  • Total bathrooms:40
  • Full bathrooms:32
  • Flooring:Luxury Vinyl
  • Dining Description:Eat-in Kitchen, Kitchen/Dining Room Combination, Living/Dining Room Combination
  • Bathrooms Description:Bathtub/Shower Combination
  • Kitchen Description:Dishwasher, Disposal, Dryer, Free-Standing Electric Range, Freezer, Microwave, Range, Refrigerator, Stainless Steel Appliance(s), Washer, Washer/Dryer, Washer/Dryer Stacked, Water Heater
  • Living area:13,600 sq. ft.

Heating and cooling

  • Cooling:Central Air
  • Heating:Heat Pump
  • Central air:Yes

Structure and exterior

  • Roof:Shingle
  • Year built:2026
  • Building area:13,600 sq. ft.
  • Construction Materials:Fiber Cement, Lap Siding
  • Exterior Features:Awning(s), Lighting, Private Entrance, Rain Gutters
  • Foundation Description:Slab
  • Levels:Tri-Level

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$4,950,000
  • Price per sq. ft.:$363.97
  • Tax amount:$2,273

Features and amenities

  • Laundry features:In Unit, Inside

Parking

  • Total parking spaces:32
  • Parking description:Garage, Garage Door Opener, Off Street, On Site, Paved, Secured
  • Garage:Yes
  • Garage spaces:20
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