Venture on 12th Place

6 buildings. 30 units. Getting a makeover

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Security Type
Common Stock
Categories
Real Estate
Location
PHOENIX, AZ
Expected Close Date
August 15, 2023
Target Raise
$100.00K-$500.00K
No. Investors
26
Security Price
$1,000
Website
neighborhood.ventures
Number of Employees
0
Cash
$0
Revenue
$0
Short Term Debt
$0
Cost of Goods
$0
Long Term Debt
$0
Net Income
$0

Company Description

The Company plans to purchase a 30-unit residential apartment building at 3432 N.12th Place, Phoenix, Arizona 85014 (the “Property”). The Property consists of six separate buildings with a shared courtyard and was built in 1971. The 30 units include 16 two-bedroom one-bathroom units, 2 one-bedroom one-bathroom units, 4 two-bedroom 1.5-bathroom units, and 8 two-bedroom one-bathroom townhome units averaging  807 square feet per unit.

Key Deal Facts

Added value. Renovation of existing 30-unit property., Experienced developer. This team has completed multiple housing projects., Quick turn-around. Quick conversion to ensure operating cash flow., Three-year plan. Re-financing or sale planned in three years., Flexible capital stack. Funds raised and ready to fill an equity gap if needed., Return. Cash flow distributions of 6% return expected to begin 8 months after acquisition, after property has been renovated, stabilized and is cash flowing., Additional return. Additional “true up” to bring returns up to 12% upon sale or refinance.

Amount Raised : $140,000
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Security Description

Common stock is a security that represents ownership in a corporation.

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