The former Radisson Hotel at 1055 Van Ness Ave. in Downtown Fresno was relisted Aug. 21 for $19.5 million. The vacant nine-story building is being marketed for conversion to either a hotel or apartments. Photo by Ben Hensley

The former Radisson Hotel in Downtown Fresno is back on the market at $19.5 million — up about 31% from its previous asking price — as its owners market the vacant nine-story building for conversion to either a hotel or apartments.

The 130,358-square-foot property at 1055 Van Ness Ave. was listed Aug. 21 for $19.5 million, according to a LoopNet listing. The building has 197 hotel rooms, which works out to $98,985 per room at the asking price.

The property was originally listed in October 2025 for $14.9 million. Property records show Fresno Prime LLC and 1055 Van Ness LLC bought the building in March 2023 for about $9.27 million, and no subsequent sale has been recorded.

The property is being marketed as a dual redevelopment opportunity, with potential buyers able to reposition it as a hotel or convert the building into apartments. The listing also markets the property as being within a federally designated Opportunity Zone, which it says offers potential tax advantages for qualifying investors.

The building was constructed in 1960 and sits on about 0.90 acres zoned C-4, according to the listing.

 

After the fire-code closure

Sevak Khatchadourian, whom The Business Journal previously reported is part of the ownership group, told the publication in 2023 that repairs were underway but that it was too soon to determine the property’s future.

The Radisson was forced to close in December 2022 due to fire code violations. Before the closure, the city had required the hotel to provide a manned 24/7 fire watch to ensure the safety of occupants during repairs.

“At this time, we can no longer allow a temporary measure to take the place of permanent repairs to the fire alarm system of a multi-story building in the heart of Downtown Fresno,” said Mayor Jerry Dyer in a 2022 release about the hotel’s closure.

What a buyer would get

The current listing says ownership has since completed roofing and waterproofing work as well as improvements to the fire alarm and sprinkler systems.

The listing says the hotel renovation option comes with completed professional design plans and multiple furniture, fixtures and equipment bids. The apartment option would convert the existing rooms into 197 units, with the potential to expand to about 234 units.

Applications had previously been filed with the city to convert the hotel into luxury housing. Khatchadourian and broker Benjamin Dreicer could not be reached for comment Friday morning.