Homes for sale - 606 N Whitham Avenue, Fayetteville, AR 72701

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$8,500,000

Est. payment - /mo

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32,700 SqFt

Active

606 N Whitham Avenue Fayetteville, AR 72701

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Micah Ribbing

micah.ribbing@joinreal.com +1(501) 218-5944

UPDATED:

10/08/2024 06:18 AM

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

Listed by GREA-Global Real Estate Advisors Branch • Corey F Allen

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Micah Ribbing

Agent | License ID: SA00096985

+1(501) 218-5944