606 N Whitham Avenue Active Save Request In-Person Tour Request Virtual Tour
Fayetteville,AR 72701
Key Details
Property Type Multi-Family
Sub Type Apartments
Listing Status Active
Purchase Type For Sale
Square Footage 32,700 sqft
Price per Sqft $259
Subdivision Wilson
MLS Listing ID 24036058
Style Traditional
Year Built 2024
Annual Tax Amount $67,951
Lot Size 0.670 Acres
Acres 0.67
Property Description
Campus Edge Townhomes is a newly constructed townhome 16-unit property situated on six parcels located adjacent to the University of Arkansas. The fully occupied property boasts large three- and four-bedroom floor plans, high-end finishes, and a mix of attached garages, rear surface parking and street parking. Each bedroom has an en suite full bathroom and a half bathroom in the living area. Units also have supplied washers and dryers and stainless steel appliances. Tenants are responsible for all utilities and the property is serviced by curbside city trash. Management already has a waitlist for the 2025/26 school year with $200 rent premiums. Despite these premiums, new ownership could increase rents beyond the 2025/26 rates, proven out by nearby market rate and student housing properties in inferior locations. Bringing rents to market rate creates tremendous cash-on-cash metrics, an IRR in the mid-20s, and an equity multiple over 2x. Property tours are by appointment only. Do not disturb tenants.
Location
State AR
County Washington
Area Fayetteville
Zoning MF24
Rooms
Kitchen Electric Range,Refrigerator-Stays
Interior
Interior Features Washer-Stays,Dryer-Stays,Hot Water Heater-Electric
Heating Central Cool-Electric,Central Heat-Electric
Flooring Luxury Vinyl
Equipment Electric Range,Refrigerator-Stays
Exterior
Garage Garage,Parking Pads
Utilities Available Sewer-Public,Water-Public,Electric-Municipal,TV-Cable
Roof Type Composition
Building
Lot Description Zero Lot Line
Foundation Slab
New Construction Yes