On October 6, 2025, Neighborhood Ventures announced the acquisition of Venture on Lockett, a boutique multifamily community located in Flagstaff’s desirable Sunnyside neighborhood. The property, comprising 18 units across four buildings, was purchased for $3.75 million, translating to approximately $208,000 per unit. This acquisition price is significantly lower than current market comparisons, which indicate sales near $275,000 per unit.
The swift investor interest in this project was remarkable; Neighborhood Ventures raised $1.4 million in less than 72 hours, reflecting a strong demand for its value-driven investment strategy in high-demand markets. According to Jamison Manwaring, Co-founder and CEO of Neighborhood Ventures, “Venture on Lockett is a perfect example of our strategy: finding well-located, stabilized properties bought beneath replacement cost.” He emphasized the potential for cash flow and market appreciation.
Investment Strategy and Community Focus
Neighborhood Ventures plans to manage the property through its in-house team, emphasizing resident satisfaction and high occupancy rates. The company aims to invest around $48,000 per unit over the first year to modernize the interiors, upgrade systems, and enhance curb appeal. This repositioning effort is expected to yield an approximate 50% increase in rents.
John Kobierowski, Co-founder and President of Real Estate at Neighborhood Ventures, stated, “Intimate, well-maintained communities like this are highly sought after by renters who prefer neighborhood scale living but still want professionally managed housing.” He highlighted that the property is already fully occupied, paving the way for stable cash flow and long-term appreciation, which are crucial factors for investors.
Neighborhood Ventures’ investment model is designed to provide both accredited and non-accredited investors access to institutional-quality opportunities. This approach allows everyday investors, particularly those in Arizona, to participate in multifamily investments that were traditionally reserved for larger investment firms.
Looking ahead, Neighborhood Ventures remains focused on transforming underperforming properties into stabilized, cash-flowing communities. Their commitment to delivering attractive, risk-adjusted returns for investors positions them well in the current market landscape, which continues to present favorable entry points for experienced operators.
For more information about the Venture on Lockett project and investment opportunities, prospective investors can visit neighborhood.ventures. As a reminder, past performance does not guarantee future results, and potential investors should consider the inherent risks involved.
“We expect a clear path to stabilized cash flow and long-term appreciation,” said Kobierowski, emphasizing the benefits of their investment strategy.
As Neighborhood Ventures continues to expand its portfolio, the company remains dedicated to enhancing community value while achieving strong financial returns for its investors.