Residences at Haymount
Value-Add Multifamily | 40 Units
Marketing description
PRIME HAYMOUNT ASSET NEAR DOWNTOWN FAYETTEVILLE
Residences at Haymount is a 40-unit property consisting of 38 one-bedroom and two two-bedroom units, along with a separate leasing office building. Built in 1992, the single-story, vinyl-sided buildings are on slab foundations and contain no polybutylene plumbing. The location is excellent, situated in the desirable Haymount area and adjacent to the Historic Downtown and its new baseball stadium. The one-bedroom units are notably spacious and lease quickly. Expenses are low, as the property is a low-maintenance build with new vinyl siding installed in 2020. Additionally, 36 of the 40 units have been renovated to a high standard, with an average cost of $14,000 per unit. Each apartment has individual water and electric meters, eliminating the need for submetering
Investment highlights
VALUE-ADD: Mid-rise style repositioning opportunity through unit interior work, new finishes, and amenity lift (approx. 40 units).
CAPITAL INFUSION: Kitchens, baths, flooring, community spaces, curb appeal and branding.
MARKET TAILWINDS: Central urban access with rising demand; gap between job creation and affordable housing supply.
SUPPLY SIDE DEFICIT: Limited fiber-optics—new supply not entering this neighborhood at scale.
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