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1135 E Chipman Rd
Phoenix, AZ 85040
Chipman Apartments · Multifamily Property For Sale
·
18 Units
Investment Highlights
- Newly built in 2023 with luxury finishes and modern construction.
- Prime infill location near Downtown Phoenix with strong connectivity to major employers and transit.
- Flexible offering structure allows acquisition of the full community or smaller building groupings.
- Spacious two- and three-bedroom floor plans designed for tenant comfort.
- Low-maintenance landscaping and efficient systems reduce operating costs.
- Surrounded by strong demographics and a growing employment base in a thriving metro area.
Executive Summary
Chipman Apartments offers a newly constructed, 18-unit luxury multifamily community strategically located just minutes from Downtown Phoenix. Built in 2023, this modern asset combines high-end finishes with spacious two- and three-bedroom floor plans, delivering a turnkey investment opportunity in one of Phoenix’s fastest-growing urban corridors. The property’s design emphasizes low-maintenance operations with desert-friendly landscaping and efficient systems, reducing upkeep and operating costs for long-term stability.
Positioned in a prime infill location, Chipman Apartments provides immediate access to major employment centers, transportation corridors, and urban amenities, ensuring strong tenant demand. The community benefits from consistent occupancy, dependable rent collections, and a pro forma cap rate of 6.1%, making it an attractive option for investors seeking reliable cash flow and long-term capital appreciation.
Surrounded by a growing population and robust local fundamentals, including a 5-mile daytime population of over 425,000 and an average household income of nearly $95,000, this property is well-suited for both traditional and 1031 exchange investors. Flexible acquisition options allow buyers to purchase the entire 18-unit community or select from multiple smaller groupings, providing maximum investment versatility.
Positioned in a prime infill location, Chipman Apartments provides immediate access to major employment centers, transportation corridors, and urban amenities, ensuring strong tenant demand. The community benefits from consistent occupancy, dependable rent collections, and a pro forma cap rate of 6.1%, making it an attractive option for investors seeking reliable cash flow and long-term capital appreciation.
Surrounded by a growing population and robust local fundamentals, including a 5-mile daytime population of over 425,000 and an average household income of nearly $95,000, this property is well-suited for both traditional and 1031 exchange investors. Flexible acquisition options allow buyers to purchase the entire 18-unit community or select from multiple smaller groupings, providing maximum investment versatility.
Property Facts
| Price Per Unit | $258,333 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.73 AC |
| Cap Rate | 6.10% | Building Size | 18,202 SF |
| No. Units | 18 | Average Occupancy | 90% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2023 |
| Apartment Style | Garden |
| Price Per Unit | $258,333 |
| Sale Type | Investment |
| Cap Rate | 6.10% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.73 AC |
| Building Size | 18,202 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 2023 |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 10 | - | 780 |
| 3+2 | 8 | - | 1,040 |
Property Taxes
| Parcel Number | 113-50-169 | Improvements Assessment | $0 |
| Land Assessment | $444 | Total Assessment | $444 |
Property Taxes
Parcel Number
113-50-169
Land Assessment
$444
Improvements Assessment
$0
Total Assessment
$444
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