606 N Whitham, Fayetteville, AR 72701
- $8,500,000
- 32,700
- SqFt
- List Price
- $8,500,000
- Status
- ACTIVE
- MLS#
- ARKMLS-1288137
- Sq. Ft
- 32,700
- Acres
- 0.67
- Year Built
- 2024
- Subdivision
- Whitham
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.
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Additional Information
- Taxes
- $67,951
- New Construction
- Yes
- Roof
- Asphalt, Shingle
- Appliances
- Dryer, Dishwasher, Electric Oven, Electric Range, Electric Water Heater, Disposal, Microwave Hood Fan, Microwave, Refrigerator, Washer
- Fencing
- None
- Foundation
- Slab
- Levels
- Three Or More
- School District
- Fayetteville
- Heating
- Central
- Cooling
- Central Air
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Listing courtesy of GREA-Global Realtor Estate Advisors Branch.