About 4204 Reavis Road
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
Features of 4204 Reavis Road
| MLS® # | 10190772 |
|---|---|
| Price | $4,950,000 |
| Bedrooms | 32 |
| Bathrooms | 40.00 |
| Full Baths | 32 |
| Half Baths | 8 |
| Square Footage | 13,600 |
| Year Built | 2026 |
| Type | Residential Income |
| Sub-Type | Apartment |
| Status | Active |
Community Information
| Address | 4204 Reavis Road |
|---|---|
| Subdivision | To Be Added |
| City | Raleigh |
| County | Wake |
| State | NC |
| Zip Code | 27606 |
Amenities
| Parking Spaces | 32 |
|---|---|
| Parking | Garage, Garage Door Opener, Lighted, Off Street, On Site, Paved, Private, Secured |
| # of Garages | 20 |
| Has Pool | No |
Interior
| Interior Features | Ceiling Fan(s), Eat-in Kitchen, High Ceilings, High Speed Internet, Kitchen Island, Open Floorplan, Primary Downstairs, Recessed Lighting, Kitchen/Dining Room Combination, Living/Dining Room Combination, Apartment/Suite, Bathtub/Shower Combination |
|---|---|
| Appliances | Dryer, Disposal, Dishwasher, Free-Standing Electric Range, Freezer, Microwave, Range, Refrigerator, Stainless Steel Appliance(s), Washer, Washer/Dryer, Washer/Dryer Stacked, Water Heater |
| Heating | Heat Pump |
| Cooling | Central Air |
| Fireplace | No |
| # of Stories | 3 |
| Stories | Tri-Level |
| Has Basement | No |
Exterior
| Exterior Features | Awning(s), Lighting, Private Entrance, Rain Gutters |
|---|---|
| Roof | Shingle |
| Construction | Fiber Cement, Lap Siding |
| Foundation | Slab |
Additional Information
| Date Listed | September 4th, 2026 |
|---|---|
| Zoning | R-10 |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Compass -- Raleigh |
|---|