New Listing
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
Details
| MLS # | 10190772 |
|---|---|
| Listing Type | For Lease |
| Sub-Type | New Construction |
| Status | Active |
| Year | 2026 |
| Days On Site | 1 |
| Listing Provided By | Compass -- Raleigh | Johnny Chappell |
Features
| Bed(s) | 32 |
|---|---|
| Bath(s) | 40 Total |
| SQ Feet | 13,600 |
| Garage | 20 |
| Story(s) | 3 |
| Zoning | R-10 |
Interior
| Interior Features | Apartment/Suite, Bathtub/Shower Combination, Ceiling Fan(s), Eat-in Kitchen, High Ceilings, High Speed Internet, Kitchen Island, Kitchen/Dining Room Combination, Living/Dining Room Combination, Open Floorplan, Primary Downstairs, Recessed Lighting |
|---|---|
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Cooling | Central Air |
| Laundry Features | In Unit, Inside |
Exterior
| Exterior Features | Awning(s), Lighting, Private Entrance, Rain Gutters |
|---|---|
| Roof | Shingle |
| Foundation Details | Slab |
| Community Features | Curbs, Sidewalks, Street Lights |
| Construction Materials | Fiber Cement, Lap Siding |
| Security Features | Smoke Detector(s) |
Parking
| Attached Garage Yes / No | Yes |
|---|---|
| Garage Yes / No | Yes |
| Parking Features | Garage, Garage Door Opener, Lighted, Off Street, On Site, Paved, Private, Secured |
| Other Parking | yes |
Location
| Community Features | Curbs, Sidewalks, Street Lights |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Taxes
| Tax Legal Description | Lo22 Blvd Pk |
|---|---|
| Tax Year | 2026 |
| Tax Map Number | 22 |
Area Information
| State | NC |
|---|---|
| County | Wake |
| City | Raleigh |
| Zip Code | 27606 |
| Area | Wake |
| Community Name | To Be Added |
| Listing VS Median (in To Be Added) | |
Price: $4,950,000 low | high Med: $634,450 sqft: 13,600 low | high Med: 2,182 $ / sqft: $364 low | high Med: $301 On site: 1 low | high Med: 29.5 | |
Market Activity 27606
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Learn More About This Property
| State | NC |
|---|---|
| County | Wake |
| City | Raleigh |
| Zip Code | 27606 |
| Area | Wake |
| Community Name | To Be Added |
| Listing VS Median (in To Be Added) | |
Price: $4,950,000 low | high Med: $634,450 sqft: 13,600 low | high Med: 2,182 $ / sqft: $364 low | high Med: $301 On site: 1 low | high Med: 29.5 | |