Neighborhood Ventures (NV) closed on Venture on 52nd Street, a 71-unit multifamily property located at 5245 E Thomas Road, in the Arcadia neighborhood.

The property was acquired for $11 million—over 35% below its 2022 valuation of $18,250,000. Venture on 52nd Street features 12 studio units, 47 one-bedroom units, and 12 two-bedroom units, ranging from 400 to 748 square feet. Located along Thomas Road, a prime corridor for shopping and dining, the property is positioned for strong rent growth and long-term appreciation.

This marks the second time NV has purchased a distressed property, and the first in foreclosure, a strategy that enables the company to move quickly and secure high-value assets at steep discounts.

“This successful closing is another example of how Neighborhood Ventures is leveraging market conditions to acquire distressed properties at a deep discount, reposition them, and create long-term value for our investors,” said NV’s Jamison Manwaring.

Investors in this offering are projected to receive a 12% preferred annual return over a three-year hold period.

Better Experience, Better Cash Flow: Be at Connect Phoenix Multifamily, SFR & BTR on April 10^th to hear from U-Haul Holding Company’s Vice Chairman, Sam Shoen, when he takes the stage with leading names from Asset Living, Mark-Taylor Residential, and Moved to share insights into how the industry’s leaders are improving tenant relations and retention, while also boosting revenue generation. Register to be there! www.ConnectPHXMF2025.com | April 10, 2025 | The Westin Kierland Resort & Spa, Scottsdale