The 18-Unit Flagstaff Property Was Acquired Well Below Market for $3.75M

(PRUnderground) November 4th, 2025

Neighborhood Ventures (NV), a leading Arizona-based real estate operator and online investment platform, today announced its acquisition of Venture on Lockett, a 4-building multifamily apartment community located in Flagstaff, Arizona. The recently acquired property features 18 spacious units totaling 19,639 square feet and is conveniently located just minutes from Flagstaff’s historic downtown.

Venture on Lockett was acquired for $3.75 million, or roughly $208,000 per unit, representing a significant discount to replacement costs and similar area sales. The offering drew exceptional investor interest, with Neighborhood Ventures reaching its $1.4 million fundraising goal in under three days.

“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 manage property operations and oversight through its in-house team, prioritizing resident satisfaction and sustained high occupancy. As part of its value-add strategy, NV plans to invest approximately $48,000 per unit to modernize interiors, upgrade systems, and enhance 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
• Acquisition price: $3.75M ($208,000/unit)
• Market comps: ~ $275,000/unit — indicating favorable purchase basis
• Occupancy: 100% at time of purchase
• Offering status: Fully funded investor raise 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 compelling entry points for experienced operators. NV’s vertically integrated model — encompassing the sourcing, acquisition, and management of value-add multifamily assets — coupled with its robust investor portal that offers lower minimums for local investors, is built to provide everyday Arizonans access to institutional-quality 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.

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Original Press Release.