Phoenix Multifamily - Venture on 16th

Asset type: Apartment · Location: Phoenix, California

This opportunity is fully subscribed by investors. Opportunity to acquire a fully renovated, cash-flowing Phoenix multifamily asset at a 34% discount to its 2022 cost basis due to a pre-foreclosure destressed sale. Freedom Capital Partners is pleased to present this exclusive investment opportunity through a strategic partnership with Neighborhood Ventures (the "Operator"), available solely to investors participating through the Freedom Capital Partners Fund ("FCP Fund"). The investment involves the acquisition of Venture on 16th, an 86-unit multifamily property in Central Phoenix, Arizona. The Operator is acquiring the asset through a pre-foreclosure transaction for $19.5 million ($226,000 per unit), representing a significant discount to the property's $26.6 million ($309,000 per unit) purchase price in 2022. The acquisition basis is further strengthened by approximately $3 million of capital improvements completed between 2023 and 2024, including interior renovations, major system upgrades, and common area enhancements. As a result, the property is fully modernized with minimal near-term capital requirements. The business plan targets a 3-year hold period, focused on disciplined property management, operational efficiencies, and gradual rent normalization. Value creation is expected to be driven by organic rent growth, expense control, and sustained occupancy, followed by a planned exit at a projected $26.5 million sale price (5.25% exit cap). Founded in 2017, Neighborhood Ventures is a Phoenix-based multifamily operator with deep local expertise and a proven track record, including 22 acquisitions, 9 exits, and an average realized 33% return on equity. Venture on 16th is located within a six-mile radius of the Operator's headquarters, supporting active oversight and execution. This opportunity exists today due to current market conditions driven by higher interest rates, rising debt costs, and an oversupply of newly constructed multifamily assets between 2021 and 2025, resulting in debt-driven distress and attractive entry points for well-capitalized buyers. For more info, see our website: freedomcapitalpartners.com