A Boutique 18-Unit Multifamily Community Acquired Well Below Market for $3.75M

PHOENIX, Oct. 6, 2025 /PRNewswire/ -- Neighborhood Ventures (NV), a leading real estate operator and an online real estate investment company that enables both accredited and non-accredited investors to invest in multifamily properties, today announced the successful closing of Venture on Lockett, a boutique, four-building multifamily community in Flagstaff's sought-after Sunnyside neighborhood. The 18-unit property was acquired for $3.75 million (approximately $208,000 per unit), well below replacement costs and comparable sales currently trading near $275,000 per unit.

Investor demand for the offering has been robust: the Venture on Lockett raise took less than 72 hours to reach the max raise amount of $1.4M, reflecting strong interest in NV's disciplined, value-oriented approach to acquiring assets in high-demand markets.

"Venture on Lockett is a perfect example of our strategy: finding well-located, stabilized properties bought beneath replacement cost, then applying targeted management and operational oversight to maximize long-term returns," said Jamison Manwaring, Co-founder and CEO of Neighborhood Ventures. "This deal is cash-flowing today and offers upside through market appreciation. We're pleased with the investor response and grateful to the community of everyday Arizonans and accredited investors who helped us move quickly to close."

Neighborhood Ventures will oversee property operations and property management through its in-house team, focusing on preserving resident satisfaction and maintaining high occupancy. As part of their value-add strategy, over the first year NV will invest roughly $48,000 per unit to modernize interiors, systems, and curb appeal – which will enable the team to realize approximately a 50% increase in the rents charged as the property is repositioned.

Key highlights of Venture on Lockett

18 units across four buildings (boutique, small-community scale)

Acquisition price: $3.75M ($208,000/unit)

Market comps: ~ $275,000/unit — indicating favorable purchase basis

Occupancy: 100% at time of purchase

Offering status: 100% Funded within 72 hours     

"Intimate, well-maintained communities like this are highly sought after by renters who prefer neighborhood scale living but still want professionally managed housing," said John Kobierowski, Co-founder & President of Real Estate. "Because Venture on Lockett was purchased at a discount to recent comps and is already fully occupied, we expect a clear path to stabilized cash flow and long-term appreciation – benefits that our investors look for."

Why invest now? Market dislocations continue to create attractive entry points for experienced operators. NV's vertically integrated model — sourcing, acquiring, and managing multifamily assets combined with a robust investor portal that allows lower minimums for local investors — is designed to give everyday Arizonans access to institutional-style opportunities.

Neighborhood Ventures remains focused on transforming underperforming assets into stabilized, cash-flowing communities while delivering attractive risk-adjusted returns for investors.

For more information on Venture on Lockett, visit neighborhood.ventures.

Prospective investors should bear in mind that past performance is no guarantee of future results and that there can be no assurance that projects will achieve projected results.

In addition, actual future conditions may require actions that differ from those contemplated at this time, and prospective investors are cautioned not to place undue reliance on these projections. This presentation includes certain non-GAAP financial measures. Certain statements such as "believes", "anticipates", "plans", "intends", "expects", "target" "preferred" and words of similar import constitute forward looking statements. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.

About Neighborhood Ventures

Neighborhood Ventures is an online real estate investment platform that offers both accredited and non-accredited investors across the nation the opportunity to invest in multifamily properties. The business revitalizes underperforming properties into stabilized, cash-flowing assets that create lasting positive impacts in their communities while delivering strong returns for investors.

Find the latest information on investment opportunities and progress updates on all projects at neighborhood.ventures.

Press Contact:

Lynn Munroe

845-548-1211

https://neighborhood.ventures

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SOURCE Neighborhood Ventures