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eighborhood Ventures, a crowd-funded real estate firm, has made a bold move in the Phoenix market by snapping up a 71-unit property at 5245 E Thomas Road for $11 million. This strategic acquisition marks the company's second distressed property purchase, with plans to revitalize and rent out the units.

    The property, which was previously valued at $18.25 million in 2022, boasts a diverse mix of studio, one-bedroom, and two-bedroom apartments, ranging from 400 to 748 square feet. Neighborhood Ventures' swift action allowed them to secure this asset at a significant discount, setting the stage for a lucrative value-add strategy.

    "We're thrilled to have closed on this deal, leveraging market conditions to acquire a distressed property at a deep discount," said Jamison Manwaring, co-founder and CEO of Neighborhood Ventures. "Our team's expertise in identifying high-value real estate opportunities has paid off once again."

    The company is now focused on stabilizing the property to maximize investor returns, projecting an annual return of 12% over three years. This ambitious goal is a testament to Neighborhood Ventures' commitment to delivering strong results for its investors.

    Investors can still join the opportunity, with minimum investment requirements ranging from $5,000 to $10,000 for non-accredited Arizona residents and $50,000 for national accredited investors. As Neighborhood Ventures continues to push the boundaries of crowd-funded real estate investing, this acquisition serves as a prime example of their ability to identify and execute high-value deals.