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Desert Oasis' Owner Catches $525,000

PHOENIX-Two San Francisco investors cite location as the motivating factor behind the deal for the 11-unit, East Phoenix apartment building. The 8,000-sf complex, built in 1960, reels in $430 to $550 per month for units ranging from 575 sf to 850 sf.

By Lee Simmons | Updated on April 02, 2004

PHOENIX-The Desert Oasis apartment complex has changed owners for $525,000. Dan and Julie Scholp of San Francisco purchased the property from Desert Oasis Apartments LLC of Beaverton, OR.

“Its location was key,” Ryan Ash, an investment associate with Marcus and Millichap’s Phoenix office, tells GlobeSt.com. “It’s near a lot of the employment in this area.”The 1960-constructed building sits at 2947 N. 39th St., in the East Phoenix submarket. The single-story complex consists of two one-bedroom units with 575 sf each and nine two-bedroom units with 850 sf apiece. Monthly rents range from $430 to $550.

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