Situated on 6.7 acres at 4530 East McDowell Rd. in central Phoenix, Papago Crossing consists of 17 buildings. It has 96 one-bedroom units that measure 700 sf and rent for $495 per month, and 84 two-bedroomunits that measure 980 sf and rent for $650 per month. At the time of sale, the 25-year-old complex was 92% occupied.
According to Goff, Water Tower Realty Management was looking to expand its apartment portfolio in Arizona. The firm also owns the Oasis at Scottsdale, a 244-unit apartment property located at 4140 North 78th St. in Scottsdale.
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