Campus Edge Apartments

635 N Whitham Avenue, Fayetteville, TX 72701

Campus Edge Apartments presents buyers with the opportunity to acquire a value-add investment in a high-barrier-to-entry market steps away from the University of Arkansas. Comprised of 31 one-bedroom, one-bathroom units, Campus Edge is currently 100% occupied in a submarket that has realized 99% occupancy with 20% rent growth over the past three years. In an already undersupplied market, the University of Arkansas has once again broken its fall enrollment record, surpassing last year’s record of 32,000 students. Despite all 31 units having “classic” finishes, current ownership has experienced essentially no push back on increasing rents year over year. Current ownership has invested a significant amount of capital for mechanical and structural upgrades, as well as new flooring in each unit. Renovated unit premiums ($100-$250) have been proven out by several comparable properties in the immediate surrounding area. For example, an adjacent comparable property has asking rents $400 higher than the average effective rents of Campus Edge, proving out the value-add upside of this investment property. A new buyer will also have the opportunity to increase NOI by implementing utility billbacks for water, sewer and trash which is currently paid by ownership, as well as monetizing the laundry facility at the property.

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Attachments

Highlights

  • 100% occupied value-add investment opportunity steps away from University of Arkansas Campus.
  • Campus adjacent multifamily transactions with a value-add component (like Campus Edge apartments) are extremely rare, creating a high barrier to entry market with predominantly long term ownership.
  • In-place average rents of $791 are well below achievable renovated rents proven out several times over in neighboring communities. Closing this gap on achievable rents and implementing RUBs and market-standard ancillary income items can increase NOI over $50,000.
  • Locally owned and operated with pride of ownership and little to no deferred maintenance allows a buyer to allocate capital expendritures on ROI driven upgrades rather than deferred maintenance.
  • Not only is Campus Edge walkable to campus, tenants also appreciate the proximity to the regionally renowned Razorback Greenway (.2 miles/three minute walk), beautiful Wilson Park (.4 miles/eight minutes), and the ever-popular Dickson Street entertainment district (half-mile/10 minutes).
  • Back-to-back record breaking enrollment continues to exacerbate the existing housing shortage near U of A campus, making Campus Edge an irreplaceable legacy asset in a high barrier to entry submarket.

Contacts

broker

Sam Hewitt

GREA

broker

Zac Thomas

GREA

broker

Sean Scott

GREA

Location

Getting Around

  • Walk Score ®

    54/100 Somewhat Walkable

  • Bike Score ®

    82/100 Very Bikeable
Powered by Walk Score ®
  • City Fayetteville, TX
  • Neighborhood Hendricks - Maxwell - Stephens
  • Zip Code 72701

Frequently Asked Questions

How much does Campus Edge Apartments cost?

The sale price for Campus Edge Apartments is available upon request. Contact the listing broker for more information.

What is the total square footage of Campus Edge Apartments?

Campus Edge Apartments totals 17,050 square feet.

When was this property built?

Campus Edge Apartments was built in 1982.

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