$8,500,000
0.67± Acres
Active
Washington County, AR

606 Whitham, Fayetteville, Arkansas

MLS ID: 24036058
Status: Active
Price: $8,500,000
Acres: 0.67±
Type: Apartment Building, Apartment
Address: 606 Whitham
City, State: Fayetteville, AR
County: Washington County
ZIP Code: 72701

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.

Cody Louks

Cody Louks

Searcy, Arkansas

(501) 207-2609

Interested? Contact Us Today About This Listing

  • This field is for validation purposes and should be left unchanged.

All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information current as of November 4, 2024 at 12:00:00 PM UTC.

IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

Listed By: Corey Allen of Grea-global Real Estate Advisors Branch - (479) 231-7833