Fayetteville Apartments Sold In $540,000 Deal
by September 21, 1998 12:00 am 60 views
The former Andrea Kay Apartments at 700 Garland Ave. in Fayetteville was sold Aug. 5 for $540,000.
Leon and Kathryn Edens sold the complex to Campus Corner Apartments LLC. The purchase was financed with a $581,000 mortgage from the Bank of Bentonville. The loan was signed by Stephen and Rexanne Mansfield as managers of the company.
The 20,592-SF, 28-unit apartment complex was built in 1960. The apartments were appraised in 1995 for $360,900.
The new owners have changed the name of the complex to Campus Corner Apartments. The owners also plan to renovate the apartments and market them to students at the University of Arkansas.