**Neighborhood Ventures Acquires Distressed Phoenix Rental Property at Deep Discount**
Neighborhood Ventures (NV), an online real estate investment platform that allows both accredited and non-accredited investors to participate in multifamily property investments, has added a new asset to its Arizona Multifamily Opportunistic Fund. The company announced the acquisition of Venture on Maryland, a 78-unit multifamily community located in Central Phoenix.
This purchase marks the fund’s fourth acquisition of a distressed asset and was secured through a pre-foreclosure, forced sale for $10.7 million, significantly below its 2022 valuation of $17.1 million — a discount of 38%.
Jamison Manwaring of Neighborhood Ventures commented on the transaction, stating, “By stepping in pre-foreclosure, we secured a substantial discount and positioned ourselves to drive meaningful value creation.” The company plans to invest over $2 million in property improvements.
**Venture on Maryland – At a Glance:**
– 78 one-bedroom units located in a highly walkable neighborhood
– Acquired through a pre-foreclosure sale at 38% below the property’s 2022 value
– Fourth distressed asset added to the Arizona Multifamily Opportunistic Fund
– Investment opportunities open to Arizona residents, with a minimum investment of $5,000
This move reinforces Neighborhood Ventures’ commitment to identifying high-potential, undervalued assets and delivering returns for local investors.
