1135 E CHIPMAN Road, Phoenix, AZ 85040 (MLS# 6958151)

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