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About
About The Enclave at Rivergate
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Enclave at Rivergate - a 216-unit, 2009-built core-plus opportunity immersed in the rapidly growing Charlotte, NC suburb of Steele Creek. The affluent ($86,638 avg. HHI) and rapidly growing area has swelled 24% since 2010 and is expected to grow an additional 22% through 2022 as incomes are expected to grow by 14% ($98,700). The well-constructed asset boasts the largest average unit size in the submarket (25% larger on average) and is ideally positioned for a multi-layered value-add program yielding a 23% increase in annual NOI. The property is ideally situated in a thriving submarket with the lowest concession level in the MSA, favorable supply/demand dynamics and a submarket-supported rent growth runway of $148 - $296.
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