$8,200,000
$8,500,000
3.5%For more information regarding the value of a property, please contact us for a free consultation.
32,700 SqFt
SOLD DATE : 03/25/2025
Key Details
Sold Price $8,200,000
Property Type Single Family Home
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 32,700 sqft
Price per Sqft $250
Subdivision Whitham
MLS Listing ID 1288137
Sold Date 03/25/25
Construction Status New Construction
HOA Y/N No
Year Built 2024
Annual Tax Amount $67,951
Lot Size 0.670 Acres
Acres 0.67
Property Sub-Type Other
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
Community Whitham
Direction Located at the corner of Whitham Ave and Taylor St one block north of the northeast corner of the University of Arkansas.
Interior
Heating Central
Cooling Central Air
Flooring Luxury Vinyl Plank
Appliance Dryer, Dishwasher, Electric Oven, Electric Range, Electric Water Heater, Disposal, Microwave Hood Fan, Microwave, Refrigerator, Washer
Exterior
Exterior Feature Concrete Driveway
Parking Features Attached
Fence None
Community Features Biking, Curbs, Near Schools, Shopping, Trails/Paths
Roof Type Asphalt,Shingle
Road Frontage Public Road
Garage Yes
Building
Story 3
Foundation Slab
Level or Stories Three Or More
Structure Type Brick,Vinyl Siding
New Construction Yes
Construction Status New Construction
Schools
School District Fayetteville
Others
Security Features Security System
Special Listing Condition None
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Bought with The Griffin Company Commercial Division-Springdale
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