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$4,950,000 Just Listed

  • For Sale
  • Active
  • Apartment
  • 32 Beds
  • 32 Full Baths
  • 8 Partial Baths
  • 13,600 Sq. Ft.
  • 20 Car Garage
  • Updated 3 days ago
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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

Full Property Details for 4204 Reavis Rd

General

  • Price: $4,950,000
  • Taxes: $2,272
  • Status: Active
  • Type: Apartment
  • Source: 2218
  • MLS ID: 10190772
  • Updated: 9/4/2026
  • Added to Site: 3 day(s) ago

Rental Information

  • Lease/Rent Term: 12 Months

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, Master Downstairs, Recessed Lighting
  • Appliances: Dishwasher, Disposal, Dryer, Free-Standing Electric Range, Freezer, Microwave, Range, Refrigerator, Stainless Steel Appliance(s), Washer, Washer/Dryer, Washer/Dryer Stacked, Water Heater
  • Flooring: Vinyl

Rooms

Bathrooms

  • Total Bathrooms: 40
  • Full Bathrooms: 32
  • Half Bathrooms: 8

Bedrooms

  • Total Bedrooms: 32

Other Rooms

  • Laundry: In Unit, Inside

Exterior

  • Exterior Features: Awning(s), Lighting, Private Entrance, Rain Gutters

Parking

  • Garage: Yes
  • Attached garage: Yes
  • Garage Spaces: 20
  • Parking Features: Garage, Garage Door Opener, Lighted, Off Street, On Site, Paved, Private, Secured

Location

  • County: Wake
  • Subdivision: To Be Added
  • City Limits: Yes

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Central Air
  • Heating Type: Heat Pump

Utilities

  • Sewer: Public Sewer
  • Water: Public

Structural Information

  • Structure Type: Site Built
  • Exterior Const.: Fiber Cement, Lap Siding
  • Roof: Shingle
  • Stories/Levels: 3
  • Building Size: 13600
  • Square Feet: 13,600
  • Finished Above Grnd: 13,600 Sq. Ft.
  • Year Built: 2026
  • Other Struct. Feat.: Cable TV, High Speed Internet

Lot Features

  • Zoning: R-10

Green Features

  • Energy Efficient: Insulation, Thermostat

Financial Considerations

  • Tax Amount: $2,272.75

Disclosures and Reports

  • Special Conditions: Standard
  • Property ID: 079417000987000 0014709
  • Lot Number: 1-8

Listed by Compass -- Raleigh, Johnny Chappell (919) 737-2247 and Compass -- Raleigh, Maggie Sparling (919) 406-4442

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Listing agents

— 4204 Reavis Rd —

  • Johnny Chappell

    Compass -- Raleigh

  • Maggie Sparling

    Compass -- Raleigh

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 4204 Reavis Rd

School District:Wake County Schools
NameGradesDistance
Combs Elementary
2001 Lorimer Road, Raleigh, NC 27606
PK-50.7 mi
Centennial Campus Middle
1900 Main Campus Drive, Raleigh, NC 27606
6-82.6 mi
Athens Drive High
1420 Athens Drive, Raleigh, NC 27606
9-121.4 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 4204 Reavis Rd Get Price Alerts and Save Property

Date
Details
Price
Change
Source
9/04/2026
Listed
$4,950,000
518.75%
MLS
4/29/2025
Sold
$800,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 4204 Reavis Rd

Year
Property Taxes
Change
Tax Assessment
Change
2025
$3,772
—
$430,218
—
2024
$3,756
81%
$430,218
128%
2023
$2,073
8%
$188,340
—
2022
$1,927
4%
$188,340
—
2021
$1,853
2%
$188,340
—
2020
$1,819
16%
$188,340
32%
2018
$1,573
5%
$142,144
—
2017
$1,499
2%
$142,144
—
2016
$1,468
2%
$142,144
4%
2015
$1,436
-14%
$136,717
-4%
2019
$1,667
22%
$142,144
4%
2014
$1,362
7%
$136,717
—
2013
$1,273
—
$136,717
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 4204 Reavis Rd

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Listed by Compass -- Raleigh, Johnny Chappell (919) 737-2247 and Compass -- Raleigh, Maggie Sparling (919) 406-4442

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4204 Reavis Road, Raleigh, NC 27606 (MLS# 10190772) is a Apartment property with 32 bedrooms, 32 full bathrooms and 8 partial bathrooms. 4204 Reavis Road is currently listed for $4,950,000 and was received on September 04, 2026. Want to learn more about 4204 Reavis Road? Do you have questions about finding other Apartment real estate for sale in Oberlin Village? You can browse all Oberlin Village real estate or contact a Coldwell Banker agent to request more information.

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