Rise48 Equity a vertically integrated multifamily investment firm, is expanding its Arizona portfolio with the acquisition of a 154-unit multifamily community in Mesa, Arizona.
Formerly known as Emparrado Apartments, the property will be rebranded as Rise Mountain Ridge. This acquisition marks Rise48 Equity’s first Phoenix-area purchase in nearly three years, signaling a strong return to a market the company knows well.
Prime Location for Long-Term Growth
Built in 1987, Rise Mountain Ridge is a B+ class property strategically located near major employment hubs such as:
- Arizona State University – 21,000+ employees
- Carvana Headquarters – 17,000+ employees
- Intel – 12,000+ employees
This proximity positions the community for strong, sustained demand and value growth.
“We’re excited to have acquired this asset at a great basis after 25 years of ownership by the seller. This is a strong submarket in Mesa that we know well, and it marks our first acquisition in the Phoenix market in nearly 3 years. Thank you to all of our investors who partnered with us on this excellent opportunity, and our team has already begun to execute on our business plan.”
Transforming Rise Mountain Ridge: A $3M+ Value-Add Plan
Rise48 Equity plans to modernize 100% of the units and enhance community spaces to elevate the resident experience.
Interior Upgrades
The apartment homes will be updated to Rise48 Equity’s Diamond and Gold finish levels, including:
- Stainless steel appliances
- Vinyl plank flooring
- White shaker cabinet doors
- Resurfaced countertops
- Modern plumbing and lighting fixtures
Additionally, 39% of units (60 total) will receive in-unit washers and dryers, further increasing rental premiums and convenience for residents.
Exterior Enhancements
To improve curb appeal and community experience, Rise48 Equity will invest in:
- Updated landscaping
- Renovated pool and amenity spaces
- New signage and branding
- General exterior upgrades
ABOUT RISE48 EQUITY:
Rise48 Equity is a Multifamily Investment Group with local offices in Phoenix, AZ, Dallas, TX, and Charlotte, NC. “At Rise48 Equity, we provide opportunities for accredited and non-accredited investors to protect and grow their wealth and achieve passive cash-flow. Our team brings expertise to acquire, reposition and return capital to investors upon reaching our business plan. Through our research and strategically formed partnerships, we acquire commercial multifamily apartment properties, strategically add value to the properties, and create passive income for our investors through cash-flow and profits from sale.”
For more information about Rise48 Equity, visit their website: rise48equity.com
