Arizona Multifamily Real Estate Investment Opportunities
Sold Properties - Completed Business Plan
At Rise48 Equity, we take pride in successfully executing our Arizona multifamily real estate investment strategies, delivering strong returns to our investors. The multifamily properties we have sold in Arizona represent the culmination of our team's dedicated efforts to create value through strategic acquisitions, hands-on asset management, and execution of our business plan. These completed transactions reflect our commitment to identifying and transforming multifamily assets, creating long-term wealth for our partners, and positively impacting the local Arizona markets in which we operate. Explore the Arizona real estate investment properties we've sold in the section below, and witness the results of our proven approach.
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Rise Melrose
930 W Indian School Rd Phoenix, AZ 85013
- Formerly Known As Revival on Indian School
- Units 96
- Disposition Date 15-Jun-22
- Hold Period 14 Months
- Sale Price 22.55M
- Actual Equity Multiple 2.02x
- Actual Internal Rate of Return 84.8%
- Acquisition Date 01-May-2021
- Purchase Price $18.4M
- Invested Capital $5.96M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 96 2B
- Projected Hold 2-5 Years
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Scottsdale 5th Ave
6405 E Indian School Rd, Scottsdale, AZ 85251
- Units 59
- Disposition Date 21-Jun-22
- Hold Period 34 Months
- Sale Price 14.115M
- Actual Equity Multiple 3.42
- Actual Internal Rate of Return 54.5%
- Acquisition Date 01-Aug-2019
- Purchase Price $6.6M
- Loan 10-Yr-Non-Recourse Agency
- Deal Structure Tenant-In-Common (TIC)
- Unit Mix 27 ST | 31 1B | 1 2B
- Projected Hold 3-5 Years
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Rise on Thomas
2735 E Thomas Rd, Phoenix, AZ 85016
- Formerly Known As Vibe on Thomas
- Units 100
- Disposition Date 17-Jun-2021
- Hold Period 14 Months
- Sale Price $21M, $210K/Unit
- Actual Equity Multiple 1.86x
- Actual Internal Rate of Return 66.3%
- Acquisition Date 01-Apr-2021
- Purchase Price $14.2M
- Invested Capital $15.28M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 37 ST | 62 1B | 1 2B
- Projected Hold 2-5 Years
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Rise Downtown Mesa
123 N Robson Mesa, AZ 85201
- Formerly Known As Sunnybrook
- Units 103
- Disposition Date 19-May-2022
- Hold Period 14 Months
- Sale Price $26.25M, $254.9K/Unit
- Actual Equity Multiple 2.26x
- Actual Internal Rate of Return 115.2%
- Acquisition Date 01-Mar-2021
- Purchase Price $16.5M
- Invested Capital $6.06M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 10 ST | 72 1B | 21 2B
- Projected Hold 2-5 Years
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Rise on Peoria
5020 W Peoria Ave, Glendale AZ
- Formerly Known As Haven on Peoria
- Units 164
- Disposition Date 17-May-2022
- Hold Period 13 Months
- Sale Price $45.4M, 276.8K/Unit
- Actual Equity Multiple 2.45x
- Actual Internal Rate of Return 132.2%
- Acquisition Date 01-Apr-2021
- Purchase Price $28.7M
- Invested Capital $9.05M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 96 1B | 68 2B
- Projected Hold 2-5 Years
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Rise Metro
2045 W Butler Dr, Phoenix, AZ 85021
- Formerly Known As Pointe Vista
- Units 160
- Disposition Date 05-Apr-2022
- Hold Period 14 Months
- Sale Price $42M, $262.5K/unit
- Actual Equity Multiple 2.45x
- Actual Internal Rate of Return 108.6%
- Acquisition Date 01-Jan-2021
- Purchase Price $24.3M
- Invested Capital $9.18M
- Loan 10-Yr Non-Recourse Agency
- Deal Structure 506(B) Syndication
- Unit Mix 107 1B | 33 2B | 20 3B
- Projected Hold 2-5 Years
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Paseo 51
5215 W Peoria Ave, Glendale, AZ 85302
- Units 116
- Disposition Date 10-Dec-2021
- Hold Period 15 Months
- Sale Price $30.1M, $259.5K/unit
- Actual Equity Multiple 3.85x
- Actual Internal Rate of Return 198.6%
- Acquisition Date 01-Sep-2020
- Purchase Price $15.5M
- Invested Capital $4.89M
- Loan 10-Yr Non-Recourse Agency
- Deal Structure 506(B) Syndication
- Unit Mix 80 1B | 36 2B
- Projected Hold 2-5 Years
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Villa Serena
4221 W Dunlap Ave, Phoenix, AZ
- Units 137
- Disposition Date 16-Nov-2021
- Hold Period 27 Months
- Sale Price $32M, $233.6K/unit
- Actual Equity Multiple 3.0x
- Actual Internal Rate of Return 65.4%
- Acquisition Date 01-Aug-2019
- Purchase Price $17.6M
- Invested Capital $5.80M
- Loan 10-Yr Non-Recourse Agency
- Deal Structure 506(C) Syndication
- Unit Mix 63 1B | 74 2B
- Projected Hold 3-7 Years
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Rise on McDowell
3620 E McDowell Rd, Phoenix, AZ 85008
- Formerly Known As Oaktree
- Units 76
- Disposition Date 08-Nov-2021
- Hold Period 26 Months
- Sale Price $15.55M, $204.6K/unit
- Actual Equity Multiple 2.90x
- Actual Internal Rate of Return 62%
- Acquisition Date 01-Aug-2019
- Purchase Price $6.9M
- Loan 10-Yr Non-Recourse Agency
- Deal Structure 506(B) Syndication
- Unit Mix 60 1B | 16 2B
- Projected Hold 1-2 Years
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District Flats Off Dobson
1045 S San Jose St, Mesa, AZ
- Units 112
- Disposition Date 10-May-2021
- Hold Period 13.5 Months
- Sale Price $18.2M, $162.5K/unit
- Actual Equity Multiple 1.95x
- Actual Internal Rate of Return 83.7%
- Acquisition Date 01-Mar-2020
- Purchase Price $13M, $116K/unit
- Invested Capital $5.15M
- Loan 10-Yr Non-Recourse Agency
- Deal Structure 506(B) Syndication
- Unit Mix 33 ST | 78 1B | 1 2B
- Projected Hold 2-5 Years
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Silver Oaks Apartments
5510 N 35th Ave, Phoenix, AZ 85017
- Units 36
- Disposition Date 01-Oct-2020
- Hold Period 21 Months
- Sale Price $5.35M, $148K/unit
- Actual Equity Multiple 1.91x
- Actual Internal Rate of Return 44.6%
- Acquisition Date 01-Feb-2019
- Purchase Price $3.45M, 95K/unit
- Loan 10-Yr Non-Recourse Agency
- Deal Structure Tenant-In-Common (TIC)
- Unit Mix 26 2B | 10 3B
- Projected Hold 2-5 Years
Current Assets Owned & Under Management
The Assets Under Management section below showcases Rise48 Equity’s current Arizona multifamily real estate portfolio, reflecting our ongoing commitment to generating value for our investors and enhancing communities in the state of Arizona. Each property in this portfolio has been selected for its growth potential and is actively managed by our experienced team to optimize performance and deliver strong financial returns. With a focus on strategic acquisitions, operational efficiency, and resident satisfaction, these assets are a testament to how we continue to transform our multifamily property investments in Arizona, creating lasting impact and building wealth for our investors in this thriving market.
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Rise Valley Heights
1050 W 8th Ave, Mesa, AZ 85210
- Formally Known As Avenue 8
- Units 194
- Acquisition Date 19-May-2026
- Built In 1986
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 194 2B
- Projected Hold 2-5 Years
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Rise Mountain Ridge
132 E Brown Rd, Mesa, AZ 85201, USA
- Formerly Known As Emparrado Apartments
- Units 154
- Acquisition Date 01-October-2025
- Built In 1987
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 118 1B | 36 2B
- Projected Hold 2-5 Years
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Rise Desert Cove
2015 West Cactus Road, Phoenix, AZ 85029
- Formerly Known As Spring Apartments
- Units 186
- Acquisition Date 30-Mar-2023
- Purchase Price $42M
- Built in 1984
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 94 1B | 92 2B
- Projected Hold 2-5 Years
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Rise on McClintock
2045 S McClintock Dr, Tempe, AZ 85282
- Formerly Known As Eden Apartments
- Units 112
- Acquisition Date 31-Jan-2023
- Purchase Price $26.5M
- Built in 1980
- Loan Freddie Mac Floating Rate Loan
- Deal Structure 506(B) Syndication
- Unit Mix 30 1B | 82 2B
- Projected Hold 2-5 Years
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Rise Suncrest
6507 S Hardy Dr, Tempe, AZ 85283
- Formerly Known As La Serena
- Units 160
- Acquisition Date 8-Nov-2022
- Purchase Price $50M
- Built in 1988
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 48 1B | 112 2B
- Projected Hold 2-5 Years
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Rise on Cactus
12021 N 43rd Ave, Phoenix, AZ 85029
- Formerly Known As Brookfield
- Units 124
- Acquisition Date 29-Sept-2022
- Purchase Price $31M
- Built in 1984
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 71 1B | 53 2B
- Projected Hold 2-5 Years
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Rise at The Meadows
4529 W Ocotillo Rd, Glendale, AZ 85301
- Formerly Known As Aspire Glendale
- Units 120
- Acquisition Date 23-Sept-2022
- Purchase Price $29.2M
- Built in 1983
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 72 1B | 48 2B
- Projected Hold 2-5 Years
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Rise Encore
5775 W Roosevelt St, Phoenix, AZ 85043
- Formerly Known As Encore 202/Roosevelt 59
- Units 376
- Acquisition Date 20-Jul-2022
- Purchase Price $125M
- Built in 2004 & 1986
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 16 S | 64 1B | 264 2B | 32 3B
- Projected Hold 2-5 Years
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Rise Lakeside
11459 N 28th Dr, Phoenix, AZ 85029
- Formerly Known As Waterfront
- Units 288
- Acquisition Date 15-Jun-2022
- Purchase Price $75.3M
- Invested Capital $34.725M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 216 1B | 72 2B
- Projected Hold 2-5 Years
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Rise at The District
1031 S Stewart, Mesa, AZ 85202
- Formerly Known As Indian Springs
- Units 460
- Acquisition Date 27-May-2022
- Purchase Price $142M
- Invested Capital $59.03M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 240 1B | 184 2B | 36 3B
- Projected Hold 2-5 Years
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Rise Broadway
945 W Broadway Rd, Mesa, AZ 85210
- Formerly Known As The Nolan
- Units 288
- Acquisition Date 24-May-2022
- Purchase Price $92M
- Invested Capital $36.55M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 144 1B | 144 2B
- Projected Hold 2-5 Years
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Rise at The Palms
5902 W Royal Palm Rd, Glendale, AZ 85302
- Formerly Known As Royal Palms
- Units 138
- Acquisition Date 05-May-2022
- Purchase Price $35M
- Invested Capital $12.63M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 58 1B | 80 2B
- Projected Hold 2-5 Years
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Rise at Dobson Ranch
1325 W Guadalupe Rd, Mesa, AZ 85202
- Formerly Known As Standard Dobson Ranch
- Units 120
- Acquisition Date 15-Apr-2022
- Purchase Price $38.125M
- Invested Capital $12.65M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 18 1B | 102 2B
- Projected Hold 2-5 Years
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Rise North Mountain
9202 N 19th Ave, Phoenix, AZ
- Formerly Known As 19 Rail
- Units 137
- Acquisition Date 12-Apr-2022
- Purchase Price $28.6M
- Invested Capital $14.22M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 38 ST | 64 1B | 35 2B
- Projected Hold 2-5 Years
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Rise Canyon West
3535 W Camelback Rd, Phoenix, AZ
- Formerly Known As GC Square
- Units 165
- Acquisition Date 31-Mar-2022
- Purchase Price $31.02M
- Invested Capital $10.47M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 112 ST | 52 1B | 1 3B
- Projected Hold 2-5 Years
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Rise on Country Club
1903 N Country Club Dr, Mesa, AZ 85201
- Formerly Known As Standard Country Club
- Units 272
- Acquisition Date 15-Mar-2022
- Purchase Price $60.625M
- Invested Capital $22.87M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 104 ST | 166 1B | 2 2B
- Projected Hold 2-5 Years
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Rise Trailside
5920 W Laurie Ln, Glendale, AZ 85302
- Fomerly Known As Standard 59
- Units 60
- Acquisition Date 08-Mar-2022
- Purchase Price $14.75M
- Invested Capital $5.575M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 30 1B | 30 2B
- Projected Hold 2-5 Years
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Rise North Ridge
8080 N 51st Ave, Glendale, AZ 85302
- Fomerly Known As Standard West
- Units 130
- Acquisition Date 08-Mar-2022
- Purchase Price $31.7M
- Invested Capital $11.2M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 74 1B | 56 2B
- Projected Hold 2-5 Years
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Rise at The Lofts
550 E Earll Dr Phoenix, Arizona 85012
- Fomerly Known As Plaza 550
- Units 92
- Acquisition Date 28-Jan-2022
- Purchase Price $25.2M
- Invested Capital $9.975M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 92 1B
- Projected Hold 2-5 Years
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Rise at Estrella Park
1801 N 83rd Ave, Phoenix, AZ 85035
- Formerly Known As Portola West Valley
- Units 224
- Acquisition Date 12-Jan-2022
- Purchase Price $59.8M
- Invested Capital $22.65M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 72 1B | 152 2B
- Projected Hold 2-5 Years
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Rise on Cave Creek
17646 N Cave Creek Rd, Phoenix, AZ 85032
- Formerly Known As Portola Grover's Park
- Units 141
- Acquisition Date 29-Dec-2021
- Purchase Price $36.6M
- Invested Capital $12.36M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 35 1B | 106 2B
- Projected Hold 2-5 Years
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Rise Thunderbird
14020 N Black Canyon Hwy, Phoenix, AZ 85053
- Formerly Known As Canyon Springs
- Units 203
- Acquisition Date 22-Dec-2021
- Purchase Price $48M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 130 1B | 73 2B
- Projected Hold 2-5 Years
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Rise Westgate
4405 N 103rd Ave, Phoenix, AZ 85037
- Formerly Known As Tides North Avondale
- Units 120
- Acquisition Date 21-Dec-2021
- Purchase Price $36.6M
- Invested Capital $12.36M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 120 2B
- Projected Hold 2-5 Years
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Rise Midtown
3815 N 16th Street Phoenix, Arizona 85016
- Formerly Known As Avenel on 16th Avenel on 16th
- Units 200
- Acquisition Date 17-Dec-2021
- Purchase Price $51M
- Invested Capital $16.53M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 36 ST | 112 1B | 52 2B
- Projected Hold 2-5 Years
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Rise Skyview
5601 W McDowell Rd, Phoenix, AZ 85035
- Formerly Known As Marble Creek
- Units 244
- Acquisition Date 18-Nov-2021
- Purchase Price $62.3M
- Invested Capital $19.74M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 108 1B | 136 2B
- Projected Hold 2-5 Years
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Rise at The Retreat
1025 E Orange St., Tempe, AZ 85281
- Formerly Known As La Cresenta
- Units 197
- Acquisition Date 14-Oct-2021
- Purchase Price $45M
- Invested Capital $16.11M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 17 ST | 101 1B | 79 2B
- Projected Hold 2-5 Years
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Rise Parkside
7102 N 43rd Ave, Glendale, AZ 85301
- Formerly Known As Solano Vista
- Units 352
- Acquisition Date 07-Oct-2021
- Purchase Price $56.1M
- Invested Capital $18.48M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 135 ST | 131 1B | 86 2B
- Projected Hold 2-5 Years
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Rise Camelback
5038 N 55th Ave, Glendale, AZ 85301
- Formerly Known As Urban 55
- Units 209
- Acquisition Date 31-Aug-2021
- Purchase Price $33.9M
- Invested Capital $11.33M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 48 ST | 160 1B | 1 2B 48 ST | 160 1B | 1 2B
- Projected Hold 2-5 Years
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Rise Desert West
6131 W Thomas Rd, Phoenix, AZ 85033
- Formerly Known As Brookside
- Units 204
- Acquisition Date 01-Jul-2021
- Purchase Price $41.6M
- Invested Capital $13.35M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 18 ST | 92 1B | 94 2B
- Projected Hold 2-5 Years
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Rise Biltmore
4728 N 15th St, Phoenix, AZ 85014
- Formerly Known As City 15
- Units 161
- Acquisition Date 01-Jul-2021
- Purchase Price $32.3M
- Invested Capital $9.45M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 17 ST | 129 1B | 15 2B
- Projected Hold 2-5 Years
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Rise at The Preserve
1502 W Glendale Ave, Phoenix AZ 850
- Formerly Known As Cascada Del Sol
- Units 166
- Acquisition Date 01-Jun-2021
- Purchase Price $26.7M
- Invested Capital $9.72M
- Loan 3+1+1 Non-Recourse Debt Fund
- Deal Structure 506(B) Syndication
- Unit Mix 54 ST | 68 1B | 44 2B
- Projected Hold 2-5 Years
Our portfolio includes the disposition sales of 11 multifamily real estate assets. In total, we’ve completed seven 1031 exchanges, allowing our investors to defer capital gains tax from their profits.
Every single deal we have ever acquired has drastically exceeded projections.
At Rise48 Equity we strive for success by being fully vertically integrated. Our property management company, Rise48 Communities, controls all of the day-to-day operations, renovations, and teams at our multifamily apartment properties.
To learn more about our multifamily real estate investments in Arizona, North Carolina, and Texas, or how to invest in multifamily properties with Rise48 Equity, click the button below and schedule a call with us.
Helping investors like you earn passive income and generational wealth through multifamily real estate investments.
