Rise Invest Acquires 96-Unit Sonoma Village Apartment Community in Mesa, Arizona

MESA, ARIZ. — Rise Invest has purchased Sonoma Village, a multifamily property located at 1318 S. Vineyard in Mesa. Built in 1973, Sonoma Village features 96 apartments, including 16 one-bedroom/one-bath units and 80 two-bedroom/two-bath units.

Rise Invest plans to invest $3 million in capital improvements to reposition the property through enhanced curb appeal, upgraded amenities and unit interior renovations. The scope of work for the unit interior renovations includes the installation of in-unit washer/dryers, new countertops, vinyl flooring, stainless steel appliances and modern lighting/plumbing fixtures.