Tempe,  AZ

1701 W Baseline Rd

value add hotel conversion opportunity

REI Marketing is pleased to offer for sale a 116 unit hotel in southwest Tempe. This is a prime opportunity for a multifamily conversion. The property is well maintained, updated, and set back off Baseline Road with high visibility
for drive by traffic. The property is set on over two acres of land across from Arizona Mills Shopping Center and across the highway from Arizona Grand. The area is burgeoning with growing multifamily demand for affordable rental
housing. This opportunity presents an easy transition to studio suites to meet the much needed housing demand in Arizona. Boasting a Tempe address but located in the Municipality of Guadalupe for zoning and taxes.

STATUS

FOR SALE

NUMBER OF UNITS

116

YEAR BUILT

1994/2013

PRICE

$11,800,000

STAY REAL ESTATE INTELLIGENT