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
Overview
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.
Listing Details MLS# 6958151
Location, Tax & Legal
- 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
- 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
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 108x505
- Year Built
- 2021
- Uncvrd Parking Spcs
- 27
- Total # of Units
- 18
- # of Buildings
- 9
- Zoning
- R-3
- Flood Zone
- No
- 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
Remarks Misc
- Cross Street
- 11th Street & Roeser Road
Legal Info
- Township
- 1N
- Range
- 3E
- Section
- 28
- Lot Number
- 064-B
- Cnty Rcrd Bk & Pg #
- 113-50
Income Expenses
- Gross Annual Sch Inc
- 364775
- Net Operating Income
- 259761
More Information
Showing Notification Methods
- Showing Service
- No Showing Service Used
- Text
- Yes
- Yes
- Phone Call
- Yes
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
Project Type
- Four Plex
- Yes
- 5 - 12 Units
- Yes
- 13 - 24 Units
- Yes
Construction
- Wood Frame
- Yes
Const - Finish
- Painted
- Yes
- Stucco
- Yes
Roofing
- Foam
- Yes
Floors
- Vinyl
- Yes
- Carpet
- Yes
Sale Includes
- Land & Building
- Yes
- Laundry Equipment
- Yes
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
Lockbox Type
- None
- Yes
Community Features
- No Pool
- Yes
Heating
- Electric
- Yes
Cooling
- Electric
- Yes
- Heat Pump
- Yes
Exterior Amenities
- Landscape Water System
- Yes
- Desert Landscaping
- Yes
- Fenced
- Yes
- Curb(s) & Gutter(s)
- Yes
- Cable TV Available
- Yes
- Patio/Balcony
- Yes
Interior Features
- Unfurnished
- Yes
- Fire/Smoke Alarm(s)
- Yes
Tenant Pays
- Sewer
- Yes
- Electricity
- Yes
Appliances Included
- Dishwasher
- Yes
- Disposal
- Yes
- Microwave
- Yes
- Refrigerator
- Yes
- Free-Standing Range
- Yes
- Washer/Dryer
- Yes
Road Access Type
- Dedicated Street
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Owner
- Yes
- Projected Proforma
- Yes
- Other (See Remarks)
- Yes
Road Responsibility
- Private Maintained Road
- Yes
Water Source
- City Franchise
- Yes
- Individual Meter
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Free
- Yes
- >1 Space Per Unit
- Yes
- Paved
- Yes
Electric
- SRP
- Yes
- Individual Meter
- Yes
Gas
- None
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
- Landscaping
- Yes
New Financing
- Cash
- Yes
- VA
- Yes
- Conventional
- Yes
- FHA
- Yes
- No Carry
- Yes
- 1031 Exchange
- Yes
Existing 1st Loan
- Conventional
- Yes
Existing 1st Loan Type
- Fixed
- Yes
Existing 1st Loan Terms
- Non Assumable
- Yes
Reports/Disclosures
- None
- Yes
Environmental
- None
- Yes
Efficiency Units
- Avg Rent
- 0
1 Bedroom Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
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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