3rd Ave Investments is a real estate investment and management firm specializing in the acquisition and re-positioning of Arizona multifamily assets through a value-add private equity fund structure. We are recognized for the service we deliver, the value we create, and the passion with which we work.

Founded in 2013 by Zev Hendeles, 3rd Ave has acquired 1,873 apartments with an aggregate market value of more than $200 million. We are a vertically integrated investor and operator of multifamily assets throughout Arizona—actively managing our investors’ capital and our residents’ expectations.

3rd Ave targets poorly managed, undervalued and off-market investments, where opportunities exist to create value with an active management approach. Our boots-on-the-ground team has demonstrated a unique ability to maximize value through investment acumen, operational efficiencies, and local expertise. We are directly involved in all aspects of the acquisition, re-positioning and/or redevelopment process with a hands-on approach.

Simply put, our mission is to invest in innovative, profitable multifamily real estate for the benefit of our equity partners and residents. We are passionate about our work and see the potential in our properties.


Our investment strategy is guided by a comprehensive knowledge of the market, a proprietary sourcing model, and a dedication to sticking to what we know best.

We focus on underperforming multifamily assets that demonstrate the strongest fundamentals in the submarkets of Phoenix, Tempe, Glendale and Scottsdale. Each acquisition must be geographically well located and possess an identifiable value proposition. Generally this means that near-term prospects exist for improving rents and property values through thoughtful redesign and repositioning.

On a portfolio basis, modest leverage is utilized predominately as first mortgage, non-recourse debt that is structured to give us the greatest flexibility, so as not to impede on an asset’s timely exit.

We seek to maximize value through each step of the process, from sourcing to due diligence and underwriting to risk and asset management, which is all controlled in-house. We’ve built a best-in-class team of professionals to give us a competitive advantage.