TUCSON, Arizona (September 10, 2025) – Oracle Ventures, LP, c/o Richard Sacks of La Jolla, CA, has purchased the 196-unit Casa Estrella del Norte apartment community at 1601 N Oracle Road at Oracle Rd & Drachman St in Tucson with undisclosed terms. The seller was Jefferson Capital Property Holdings, LLC, c/o Bryan Krizek of Lorton, Virginia. The sale closed September 2, 2025.
The property, originally built in 1959, spans approximately 7.4 acres and is comprised entirely of studio and one-bedroom units averaging 378 square feet. All 196 units were delivered vacant at closing, positioning the buyer for a full restoration and repositioning program.
At the purchase price, the deal reflects approximately $34,184 per unit, or just over $905,000 per acre.
Institutional Property Advisors (a division of Marcus & Millichap) brokered the transaction. The IPA team of Hamid Panahi, Clint Wadlund, Steve Gebing, and Cliff David represented the seller and also procured the buyer.
Known historically as Estrella del Norte, the community has operated under several different uses in past decades, including student housing and transitional housing. Its prominent location along Oracle Road places it within close proximity to downtown Tucson and the University of Arizona.
For more information, Panahi and Wadlund can be reached at (520) 202-2900.
See RED Comp #12083 for more details.