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A California-based buyer has acquired the Park Terrace Apartments in the heart of Tempe’s ASU district. A private Arizona-based investor sold the property for $5 million or $125,000 per door.

The property is located near a Valley Metro Light Rail line and is a five-minute walk from the nearest station. The location creates significant upside through a value-add program.

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

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