$4,770,000
Phoenix, AZ 85040
MLS# 6958151
1 / 25
Property 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.
Details
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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