Real Deals: Springdale apartments sell for $4.8 million

A 42-unit apartment complex off Huntsville Avenue in downtown Springdale has a new owner after a recent transaction worth $4.8 million. The purchase price equals $114,285 per unit.

Fayetteville-based The Berry Street Collection LLC, whose member is Daryl Ottaviano, bought The Grove on Berry apartment complex on 1.9 acres at 305 Berry St. The seller was Bentonville-based Berry Street Partners LLC, whose authorized agent is Mitchell Moore.

Fayetteville-chartered Arvest Bank provided a three-year loan of $3.84 million. City Title & Closing LLC in Fayetteville was the title agent.

Built in 2000, the two-story apartment complex was recently renovated. Units range from one to two bedrooms. Berry Street Partners paid $2.8 million for the property in June 2022. The seller was Alston and Morrison Properties LLC, whose operating manager is Dr. Steve Morrison.

Rogers Offices
Two office buildings comprising 13,153 square feet east of Interstate 49 in the Pleasant Crossing addition of Rogers recently changed hands for $4.75 million. The purchase price equals $361 per square foot.

Jonesboro-based Long Point Enterprises LLC, whose members include Kolin Weaver and Ashlyn Weaver, bought the buildings on 2 acres at 4500 to 4502 S. Dixieland Road. Kolin Weaver is an orthodontist practicing at Weaver Orthodontics, with offices in Jonesboro and Paragould.

The seller was Rogers-based Chordline Holdings LLC, managed by Rob A. Yates and Cyle Gates. Tupelo, Miss.-based Cadence Bank provided a 20-year loan of $2.4 million. City Title & Closing LLC in Fayetteville was the title agent.

Built in 2022, the single-story office buildings are 8,808 and 4,345 square feet, respectively.

Fayetteville Pasture
More than 45 acres of timber and pasture along North Rupple Road in northwest Fayetteville recently sold for $3.02 million. The purchase price equals $67,020 per acre.

Springdale-based DRP Holdings LLC, managed by Darrin Pitts, bought 45.16 acres southwest and southeast of Rupple and West Salem roads. Pitts is president of United Built Homes and board chairman of Springdale-based United Bank.

The seller was Tolainv LLC, whose president is Pitts. Realty Title & Closing Services LLC in Rogers was the title agent. Tolainv paid $2.82 million for the property in November 2024. The seller was Pitts Revocable Trust, whose trustees are Donnie Pitts and Isabel Pitts.

Springdale Properties
Nearly 20 residential properties throughout Springdale recently sold for $2.95 million. The purchase price equals $155,263 per property.

Fayetteville-based Top Notch Rentals LLC, whose member is Daryl Ottaviano, bought the 19 properties in various additions throughout Springdale. The sellers were Charles D. Redding Jr. and Catherine D. Redding.

Lonoke-based First State Bank provided a 30-year loan of $2.71 million. City Title & Closing LLC in Fayetteville was the title agent.

Elm Springs Pasture
More than 58 acres of pasture and timber on Snavely Road in Elm Springs recently sold for $2.4 million. The purchase price equals $41,004 per acre.

Blue Sky Estate LLC, whose member is Chris Unruh of Siloam Springs, bought the 58.53-acre property southeast of Snavely and Lott roads. The sellers were Philip Kaduchak and Dorinda Kaduchak of Tontitown. The sellers provided a five-year loan of $1.9 million.

The property included two 9,600-square-foot storage buildings and three pole sheds. The Kaduchaks paid $335,000 for the property in September 2016. The seller was The Howard Family Trust, whose trustee is Timothy E. Howard.

Farmington Residential
Six residential lots in the Goose Creek Village addition in north Farmington have a new owner after a recent transaction worth $2.33 million. The purchase price equals $388,413 per lot.

Fayetteville-based Riggins Ventures LLC, managed by Dakota Riggins, bought the lots in the 400 block of West Gosling Isle and the 500 block of West Canada Drive.

The seller was a Northwest Arkansas affiliate of Arlington, Texas-based homebuilder D.R. Horton Inc., whose assistant secretary is Stephen C. Sanders. Muskogee, Okla.-based Armstrong Bank provided a 30-year loan of $1.81 million.

Editor’s note: Information in this report was gathered with assistance from the office of Benton County Assessor Roderick Grieve.