The complex is a 12-building, 134-unit project located near the Loop 202 or Red Mountain Freeway, thus giving easy access to downtown Phoenix. It's nestled within a quiet residential community.
Julie Vaughn, senior associate with Sperry Van Ness Mullin in Phoenix, represented buyer and seller, the Walker and Neva Family Trusts. She says it was a win-win for both since the buyer was looking to purchase "a stable multifamily community in the Phoenix area" and the seller wanted to "capitalize on the strong real estate market."
Papago Park's units bring in $585 monthly for a one-bedroom design and $685 for two bedrooms. The units range in size from 670 sf to 900 sf.
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