Historic Tucson Hotel to Convert to Apartments
The Hacienda Motel at 1742 North Oracle in Tucson sold for $2.85 million ($157 PSF). The 51-room motel sold to Colonia Properties TIC II, LLC of Los Angeles, CA. The buyer plans to convert the property into apartment units.
Built in 1946, the 18,199 square-foot motel is located at the southwest corner of Lester and Oracle Road in Tucson with onsite laundry and a pool as amenities. The property had recent capital improvements.
The historic neon signs in the front of the Hacienda Motel are reminders of the days when such signs lit up the night along the Miracle Mile entryway into Tucson and the days of two-lane highway travel of the 1940s and ’50s.
Allan Mendelsberg and Conrad Martinez from Cushman and Wakefield | PICOR handled the transaction for buyer and seller, Oasis Living, also from Los Angeles, CA.
Apartment buildings for sale
Check out the latest properties available on apartmentbuildings.com
Mark Ave Apartments
Fallon, NVPhoenix & Southwest + 2-4 Units
Learn MoreListing Status: Available Listing Type: Call for offers Price: $800,000 No. of Units: 4 Cap Rate: 4.49 Average Occupancy: 1000 Year Built: 1987 Year Renovated: 2023 Building Size: 3444 Sq ft Lot Size: 0.18 Acres No. of Stories: 1 APN: 001-494-24 Zoning Code: R2 Opportunity Zone: No Price per unit: $200,000 
Riverside Suites
Tucson, AZPhoenix & Southwest + Apartments
Learn MoreListing Status: Available Listing Type: Highest & best offer No. of Units: 33 Year Built: 1968 Building Size: 28952 Sq ft Lot Size: 2.37 Acres No. of Stories: 1 No. of Parking Spots: 56 Opportunity Zone: No
- ◦Sale/Acquisition
- ◦Development
