1135 E CHIPMAN Road, Phoenix, AZ 85040

$4,650,000

Property Type: Multiple Dwellings Status: Active

Current Price: $4,650,000 Last Modified: 3/24/2026

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
Email: 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: March - 24 - 2026