1135 E CHIPMAN Road, Phoenix, AZ 85040
$4,770,000
Property Type: Multiple Dwellings Status: Active
Current Price: $4,770,000 Last Modified: 12/16/2025
Description
Also available as five separate offerings!
This allows investors to tailor their purchase to their operational or investment objectives. Each grouping consists of no more than 4 units in 2 separate buildings which opens the door up to additional financing options. Newly constructed in 2023. Minutes from Downtown Phoenix, this high class asset combines high-end finishes, spacious modern floor plans (2BR/2BA and 3BR/2BA), and immediate access to major employment centers, transportation corridors, and urban amenities.
More Information MLS# 6958151
Contract Info
Ownership: Fee Simple Current Price: $4,770,000 List Price: $4,770,000 Status: Active List Date: 2025-12-02
Location, Tax & Legal
Assessor's Map #: 50 Legal Description (Abbrev): NW4 FOL DESC PROP TH PT SE4 NW4 SEC 28 DAF BEG 36.7F N CENTER SD SEC TH W 214.68F TH N 1014F TH E 21 Assessor's Parcel #: 160 Add'l Parcels: No Tax Municipality: Phoenix Census Tract: 115900 Taxes: 20798 Legal: To be provided by Title Company Marketing Name: Chipman Apartments House Number: 1135 Compass: E Street Name: CHIPMAN St Suffix: Road City/Town Code: Phoenix State/Province: AZ Zip Code: 85040 County Code: Maricopa Assessor Number: 113-50-160 Tax Year: 2025
General Property Description
# of Buildings: 9 Uncvrd Parking Spcs: 27 Lot Size Dimensions: 108x505 Flood Zone: No Total # of Units: 18 Elementary School District: Roosevelt Elementary District High School District: Phoenix Union High School District Elementary School: John F Kennedy Elementary School High School: South Mountain High School Year Built: 2021 Zoning: R-3
Legal Info
Range: 3E Section: 28 Cnty Rcrd Bk & Pg #: 113-50 Township: 1N Lot Number: 064-B
Project Type
Four Plex: 1 5 - 12 Units: 1 13 - 24 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1 Stucco: 1
Roofing
Foam: 1
Floors
Vinyl: 1 Carpet: 1
Sale Includes
Land & Building: 1 Laundry Equipment: 1
Income & Expenses
Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 20798 Other Income: 31932 Vacancy Allowance: 0.09 Adjusted Gross Inc: 361003.37 Total Monthly Rental Income: 30397
Pmt & Rate Info
Cap Rate: 5.45 Equity: 4770000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used Text: 1 Email: 1 Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Electric: 1 Heat Pump: 1
Exterior Amenities
Landscape Water System: 1 Desert Landscaping: 1 Fenced: 1 Curb(s) & Gutter(s): 1 Cable TV Available: 1 Patio/Balcony: 1
Interior Features
Unfurnished: 1 Fire/Smoke Alarm(s): 1
Tenant Pays
Sewer: 1 Electricity: 1
Appliances Included
Dishwasher: 1 Disposal: 1 Microwave: 1 Refrigerator: 1 Free-Standing Range: 1 Washer/Dryer: 1
Road Access Type
Dedicated Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1 Projected Proforma: 1 Other (See Remarks): 1
Road Responsibility
Private Maintained Road: 1
Water Source
City Franchise: 1 Individual Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Free: 1 >1 Space Per Unit: 1 Paved: 1
Electric
SRP: 1 Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1 Sewer: 1 Trash Collection: 1 Landscaping: 1
New Financing
Cash: 1 VA: 1 Conventional: 1 FHA: 1 No Carry: 1 1031 Exchange: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Non Assumable: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 10 Avg Rent: 1601 Avg SqFt: 780 # Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 8 Avg Rent: 1745 Avg SqFt: 1040 # Baths: 2
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: 11th Street & Roeser Road Geo Lat: 33.401605 Geo Lon: -112.056502
Income Expenses
Gross Annual Sch Inc: 364775 Net Operating Income: 259761
Property Features
Project Type: Four Plex; 5 - 12 Units; 13 - 24 Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Foam Floors: Vinyl; Carpet Sale Includes: Land & Building; Laundry Equipment Community Features: No Pool Exterior Amenities: Landscape Water System; Desert Landscaping; Fenced; Curb(s) & Gutter(s); Cable TV Available; Patio/Balcony Interior Features: Unfurnished; Fire/Smoke Alarm(s) Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Cooling: Electric; Heat Pump Water Source: City Franchise; Individual Meter Sewer: Sewer - Public Electric: SRP; Individual Meter Gas: None Parking Features: >1 Space Per Unit; Free; Paved Road Access Type: Dedicated Street Road Surface Type: Asphalt Road Responsibility: Private Maintained Road Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Sewer; Electricity Source of Fincl Data: Owner; Projected Proforma; Other (See Remarks) Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Existing 1st Loan: Conventional Existing 1st Loan Type: Fixed Existing 1st Loan Terms: Non Assumable New Financing: Cash; VA; FHA; Conventional; No Carry; 1031 Exchange Environmental: None
Listing Office: Orion Investment Real Estate
Last Updated: December - 16 - 2025
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