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Cumberland Square Apartments 401 N Cumberland Ave 50 Unit Apartment Building $4,250,000 ($85,000/Unit) 6.84% Cap Rate Russellville, AR 72801
Investment Highlights
- High-demand location — Walking distance to Arkansas Tech University, a major and stable tenant driver.
- 50-unit scale — Rare size in the Russellville market, allowing operational efficiencies with on-site or nearby property management.
- Proven rental comps — Existing rent levels leave room for repositioning and incremental rent growth.
- Strong occupancy potential — University, local medical employers, and retail corridors support consistent rental demand.
- Efficient unit mix — 1- and 2-bedroom layouts appeal to students, young professionals, and small families.
- Tenant retention drivers — Proximity to grocery, restaurants, services, and major roadways increases long-term livability.
Executive Summary
This 50-unit garden-style apartment community presents a rare opportunity to acquire ten two-story buildings on roughly 3.28 acres (37,020 SF building area) in a strong college-town rental market steps from Arkansas Tech University. The property, built in the late 1970s and classed as a B-asset, delivers scale with 50 units across a compact campus that’s ideal for phased interior and exterior upgrades, rental-rate resets, and improved management efficiencies. Importantly, all individual AC units have been replaced, providing a significant capital improvement that reduces near-term maintenance exposure and enhances tenant comfort. For investors seeking a hands-on multifamily play with immediate upside and strong tenant demand driven by nearby universities, medical centers, and retail nodes, Cumberland Square is a turnkey platform with clear repositioning potential.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,250,000 | Building Class | B |
| Price Per Unit | $85,000 | Lot Size | 3.28 AC |
| Sale Type | Investment | Building Size | 37,020 SF |
| Cap Rate | 6.84% | Average Occupancy | 76% |
| No. Units | 50 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1978/2024 |
| Property Subtype | Apartment | Parking Ratio | 2.35/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R2 - R-2 (multifamily residential) zoning district is to provide for medium- to high-density housing in multiple-family structures | ||
| Price | $4,250,000 |
| Price Per Unit | $85,000 |
| Sale Type | Investment |
| Cap Rate | 6.84% |
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 3.28 AC |
| Building Size | 37,020 SF |
| Average Occupancy | 76% |
| No. Stories | 2 |
| Year Built/Renovated | 1978/2024 |
| Parking Ratio | 2.35/1,000 SF |
| Zoning | R2 - R-2 (multifamily residential) zoning district is to provide for medium- to high-density housing in multiple-family structures |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Linen Closet
- Pantry
- Vinyl Flooring
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Picnic Area
- Playground
- Property Manager on Site
- Basketball Court
- Grill
- Walking/Biking Trails
- Maintenance on site
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 631 |
| 2+1 | 33 | - | 785 |
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Property Taxes
| Parcel Number | 812-00075-000C | Total Assessment | $268,140 (2025) |
| Land Assessment | $38,680 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $229,460 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
812-00075-000C
Land Assessment
$38,680 (2025)
Improvements Assessment
$229,460 (2025)
Total Assessment
$268,140 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Cumberland Square Apartments | 401 N Cumberland Ave
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