Arcadia Harrisonburg

Built in 1999 and recently renovated, Arcadia Harrisonburg is a 168-unit, 672-bed student housing property located just 250 steps from James Madison University (JMU) in Harrisonburg, VA. It features spacious, fully-furnished 4-bedroom units and is currently 99% occupied and 86% preleased for the 2025-2026 academic year.

The property is situated within a 5- to 10-minute walk or bike ride to campus and near dining, entertainment, and major retailers. It offers modern amenities, including a renovated clubhouse, 24-hour fitness center, business center, and outdoor grilling stations, and is on the JMU bus route.

Arcadia captures demand from the 22,879 students attending James Madison University, where enrollment has grown 9.7 percent over the past decade, 4.9 percent over past five years, and is expected to continue to grow at a steady pace in the coming years.

While most units have been modernized by current ownership, there remains a value-add opportunity for future investors, with 40 units still available for premium-level renovations.