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Tempe Apartment Near Water's Edge Brings $2.28 Mil

TEMPE,AZ-A Tempe apartment complex that's nearby the $50-million recently filled Tempe Town Lake has been purchased by a local investor.

By D.J. Burrough | Updated on December 18, 2000

TEMPE, AZ-A local investor has purchased an apartment complex in Tempe for an average price of $38,000 per unit.

Milovoje and Milomirka Djordjevich of Mesa purchased the Santa Fe Court Apartments, a 60-unit complex at 700 E. Weber Dr. for $2.28 million.

The apartment complex is just north of the Tempe Town Lake, a two-mile long, man-made lake that was built in the riverbed of the Salt River, adjacent to Papago Park and within a mile of Arizona State University. Apartments within a few miles of the sprawling campus are popular with students, which number more than 50,000 at the state university.

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