Phoenix Avenue apartment complex sale top property deal in February

An apartment complex on Phoenix Avenue near the intersection of Jenny Lind Road was the top Sebastian County property deal in February with Superior Rental Properties Inc. selling the property for $1.76 million to Providence Real Estate LLC.

Providence is a Fort Smith-based company with Joseph Kwo and Erick Schermerhorn listed as agents and incorporators, respectively. Superior Rentals is also a Fort Smith-based company with James Smith listed as the incorporator.

The apartment complex deal is the largest property transaction so far in 2023, according to information provided by the office of Sebastian County Assessor Zach Johnson.

The second largest commercial deal in the month had the Everett Moulton Living Trust selling property and buildings at 5518 Ellsworth Road in Fort Smith to LRO Properties LLC for $594,000.

The top 10 deals in February had a combined deal value of $6.01 million.

A $20.387 million sale of the new Veterans Affairs Clinic in Fort Smith and associated property was the largest Sebastian County property deal in 2022. The deal closed Sept. 8. The 49,500-square-foot VA Clinic, located at 5700 Phoenix Ave., was completed in early 2021, with the building permit valued at $15.7 million.

Following are the top 10 February transactions in Sebastian County, according to the Assessor’s office. The list is comprised from deed transfers that include the sale price.

Transaction amount: $1.76 million
Seller: Superior Rental Properties Inc.
Buyer: Providence Real Estate LLC
Sale Date: Feb. 14
Address: 2022, 2104 Phoenix Ave., Fort Smith
Description: Residential-apartments

Transaction amount: $616,000
Seller: RCA Construction Co. Inc.
Buyer: Latifeh Shafii
Sale Date: Feb. 24
Address: Fort Smith
Description: Residential-home

Transaction amount: $594,000
Seller: Everett Moulton Living Trust
Buyer: LRO Properties LLC
Sale Date: Feb. 9
Address: 5518 Ellsworth Road, Fort Smith
Description: Commercial

Transaction amount: $553,750
Seller: Bobby and Lisa Graham Family Trust
Buyer: John and Michelle Doubrava
Sale Date: Feb. 3
Address: Fort Smith
Description: Residential-home

Transaction amount: $462,000
Seller: Barlee Properties II Limited Partnership
Buyer: Wines Holdings Arkansas LLC
Sale Date: Feb. 10
Address: Barling
Description: Residential properties

Transaction amount: $428,000
Seller: Thomas Williams Trust
Buyer: Brandon and Taylor O’Neal
Sale Date: Feb. 15
Address: Fort Smith
Description: Residential-home

Transaction amount: $419,000
Seller: Rucker Fine Homes LLC
Buyer: Sandra Schott
Sale Date: Feb. 10
Address: Fort Smith
Description: Residential-home

Transaction amount: $400,000
Seller: Dotco Properties IV LLC
Buyer: Greenway Real Estate Investment Holdings
Sale Date: Feb. 16
Address: 3615 Wheeler Ave., Fort Smith
Description: Commercial

Transaction amount: $393,000
Seller: Justin Green Homes Inc.
Buyer: Charles and Abigail Cox
Sale Date: Feb. 14
Address: Fort Smith
Description: Residential-home

Transaction amount: $385,000
Seller: Madan and Sahithi Arugunta
Buyer: Lloyd and Catherine Scarrow
Sale Date: Feb. 13
Address: Fort Smith
Description: Residential-home