Riggins Construction Makes Biltmore Buy Worth $1.59M

First State Bank in Fayetteville lightened its OREO portfolio recently with the sale of 36 residential lots for $1.59 million.

Riggins Commercial Construction and Development Inc., led by Kevin Riggins, bought the lots in the Biltmore subdivision near the intersection of Wallis and Rainbow roads in Cave Springs.

Realty Title and Closing Services LLC of Springdale was the closing agent.

FSB provided financing.

The lots average about 0.30 acres each.

FSB acquired 56 lots in the addition via commissioner’s deed in February 2012.

Gayer Grab

Paul Gayer Properties LLC of Fayetteville recently paid $1.07 million for 10 quadplexes on North Linda Jo Place in Fayetteville and four duplexes on Box Road, also in Fayetteville.

Bleaux Barnes, through his Mad Sky Rentals LLC, was the seller.

The Linda Jo Place properties are all 1,000-SF units with addresses from 1644-1693 N. Linda Jo Place. They occupy lots 7-14, 17 and 18 of the Houston Meadows addition.

The remaining properties are at 2013, 2025, 2037 and 2049 Box Road, occupying Lots 2A, 2B, 3A and 3B of the Box Residential addition.

Duplex Properties

Ownership of four multifamily properties near Asbell Park in Fayetteville recently changed hands in a $760,000 deal.

Mary Hall Pool of Goshen bought the duplex buildings from Jeff Eisma.

Arvest Bank of Fayetteville partially funded the deal with a five-year mortgage of $608,000.

Eisma assembled the properties on North Willowbrook Drive and North Evening Shade Drive in 2010 in two deals totaling $594,000. The seller was Arvest Mortgage Co. of Lowell.

Each building has two units totaling 1,216 SF. The buildings were constructed in 2004.

Fiddlesticks Sale

A 4,156-SF home in the Champions Golf & Country Club addition of Rogers has a new owner after a $710,000 sale.

Christopher and Jennifer Haunschild bought the Fiddlesticks Trail home from Ronald and Shona Palmer.

Stewart Title of Arkansas LLC was the closing agent.

Sirva Mortgage Inc. of Independence, Ohio, helped fund the deal with a 30-year mortgage of $568,000.

The three-bedroom home was built in 2005 and appraised in 2013 for $543,650.

Palmer bought the 0.63-acre lot in December 2002 from Robert and Deborah Fleener for $80,000.