Description

Farmington Hills is a newly constructed, Class A multifamily property located at 275 North Hunter Street in Farmington, Arkansas. The asset consists of 114 units across 132,240 square feet on a 16.25-acre site, with an average unit size of 1,160 square feet. Built in 2024, the property features modern finishes and offers a strong value proposition in the growing Northwest Arkansas market.

Currently at 0% occupancy, the project is positioned for immediate leasing activity, with in-place rents averaging $1,650 per unit, approximately 5.7% below market rents of $1,750, presenting an opportunity for rent growth. Projected stabilized NOI is $1,841,390, with initial NOI at $1,597,825. The property benefits from efficient unit layouts and a lease-up opportunity in a high-demand submarket.

Farmington Hills is well-situated near key employment centers, retail amenities, and major transportation corridors, offering strong fundamentals for long-term investment stability. With all units available for lease upon completion, investors have direct control over absorption and rent optimization while benefiting from the scalability of a 100% new-build multifamily portfolio. This property represents a strategic investment in a rapidly expanding submarket with favorable demographic and economic trends.