Description

We are offering Chipman Apartments, an 18-unit multifamily community at 1135 E Chipman Road in Phoenix. Completed in 2023, the property provides newer construction, contemporary interiors and a mix of spacious two- and three-bedroom residences. The community is offered at $4,000,000, or approximately $222,222 per unit, with reported net operating income of $267,076.

The unit mix includes ten two-bedroom, two-bathroom residences averaging approximately 780 square feet and eight three-bedroom, two-bathroom residences averaging approximately 1,040 square feet. Current occupancy is reported at approximately 94.4%. Residences include modern kitchens, refrigerators, ovens, ranges and individual climate control.

The two-story community totals approximately 18,202 square feet and occupies roughly 1.25 acres. Low-maintenance landscaping and efficient building systems support streamlined operations, while the larger floor plans are designed to serve families, roommates and workforce households. The property is identified as APN 113-50-169.

Chipman Apartments is located in an established infill area south of Downtown Phoenix with convenient access to employment centers, neighborhood services and regional transportation corridors. The setting connects residents with central Phoenix, Phoenix Sky Harbor International Airport and major employers throughout the metro area.