Neighborhood Ventures, a real estate crowdfunding platform in Arizona, announced the acquisition of Venture on 52nd Street, a 71-unit multifamily community on Thomas Road in Arcadia.
Neighborhood Ventures’ first acquisition of a foreclosed property – secured at more than 35 percent below its 2022 market valuation – is a significant milestone for the company. Originally valued at $18.25 million, the property was purchased at a foreclosure auction for $11 million.
“This successful closing is another example of how Neighborhood Ventures is leveraging market conditions to acquire distressed properties at a discount, reposition them, and create long-term value for investors,” Co-founder and CEO Jamison Manwaring said. “Our ability to purchase at a foreclosure auction allowed us to secure this asset at an exceptional price. We are excited to begin executing value-add strategy.”
Investor enthusiasm was swift and strong: Neighborhood Ventures raised $1.345 million in 36 hours following the fund’s launch. The rapid response highlights growing investor confidence in real estate offerings that promise stability and above-average returns.
The new acquisition includes a mix of studio, one-bedroom, and two-bedroom units ranging from 400 to 748 square feet. Situated along the bustling Thomas Road corridor — a hub for dining, shopping, and lifestyle amenities — the location is primed for rent growth and long-term neighborhood revitalization.
Foreclosure deals in the multifamily space are very different from what we see in single-family housing. When a single home goes into foreclosure, it can negatively affect surrounding property values. But with commercial real estate, particularly multifamily, these transactions are often quiet, off-market deals that don’t ripple through the neighborhood in the same way, according to Manwaring.
“Instead, they present opportunities for experienced investors to step in at a favorable price point and add value. Our recent acquisition of Venture on 52nd Street is a great example. This is a vibrant, growing neighborhood with strong fundamentals, and we believe the best is yet to come as rents continue to align with market rates,” Manwaring said.
Neighborhood Ventures is now focused on stabilizing operations at the property, improving occupancy, and implementing efficient management strategies. Investors in the offering are projected to receive a 12 percent preferred annual return over a three-year hold period.
The investment opportunity remains open through the Arizona Multifamily Opportunistic Fund, offering minimum investments of $5,000–$10,000 for non-accredited Arizona residents or a $50,000 minimum for accredited investors nationwide.
As Neighborhood Ventures redefines access to high-yield real estate investments, Venture on 52nd Street is another testament to the firm’s commitment to transforming underperforming assets into thriving community pillars. For more details, visit neighborhood.ventures.
