Owl Lodge, 2015 E. Benson Highway, was a former motel recently converted to apartments.
Gabriela Rico, Arizona Daily Star
Four former motels along Benson Highway have been sold to investors and converted to furnished apartments for rent.
Located at 1431, 1951, 2015 and 2027 E. Benson Highway, the Owl Lodge, Wagon Wheel Inn, Stagecoach Inn and Mesa Lodge have a combined 55 units in single-story frame and stucco buildings.
The Tucson 55 Portfolio was sold for $1.3 million.
The motels were built between 1948 and 1976 and have an average size of 531 square feet.
They will be available for rent month-to-month, including utilities.
“The Tucson 55 portfolio features well maintained assets located along Tucson’s heavily trafficked Benson Highway,” said Lance Parsons, Senior Vice President at ABI Multifamily, who represented both parties. “Additionally, the properties are less than a few miles from the University of Arizona, Downtown Tucson and the airport.”
Both buyer and seller are Arizona-based private multifamily investors.
Other recent commercial transactions include:
