$4,292,500
1135 E CHIPMAN Road
Phoenix, AZ 85040
MLS# 6174494



1135 E CHIPMAN Road, Phoenix, AZ 85040
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1135 E CHIPMAN Road, Phoenix, AZ 85040 1135 E CHIPMAN Road, Phoenix, AZ 85040 1135 E CHIPMAN Road, Phoenix, AZ 85040 1135 E CHIPMAN Road, Phoenix, AZ 85040 1135 E CHIPMAN Road, Phoenix, AZ 85040

Property Description
An awesome opportunity to purchase a unique, under construction, New-build 18 Unit Apartment Complex with separate parcels with a duplex on each parcel. Interior to include Shaker cabinets with dove-tailed drawers and slow-close hinges and drawer glides. Counter tops will be white Quartz with under-mount sinks. Stainless steel appliances in the kitchen with microwave above the electric range. Also included in each apartment will be a stackable washer & dryer. Main flooring will be durable wood-look plank with carpet in each bedroom. One (1) year Builder's warranty and Five (5) year roof warranty included. Project will be delivered at 70% rented capacity at top market rates. Detailed Info in Documents

Details
Maps
Documents
Contract Info
Current Price: $4,292,500
List Price: $4,292,500
Status: Active
List Date: 2020-12-24
Ownership: Fee Simple
Location, Tax & Legal
Map Code/Grid: R34
House Number: 1135
Compass: E
Street Name: CHIPMAN
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85040
Country: USA
County Code: Maricopa
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 Map #: 50
Assessor's Parcel #: 64
Assessor Parcel Ltr: B
Add'l Parcels: No
Assessor Number: 113-50-064-B
Legal: 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
Census Tract: 115900
Tax Municipality: Phoenix
Taxes: 1446
Tax Year: 2020
Marketing Name: Chipman 18-Plex
General Property Description
Apx Lot Size Range: 108x505
Year Built: 2021
Uncvrd Parking Spcs: 27
Total # of Units: 18
# of Buildings: 9
Zoning: R-3 MFH
Elementary School: John F Kennedy Elementary School
Jr. High School: Greenfield Junior High School
High School: South Mountain High School
Elem School Dist #: 066 - Roosevelt Elementary District
High School Dist #: 210 - Phoenix Union High School District
Remarks & Misc
Cross Street: 11th Street & Roeser Road
Directions: Roeser Road to North on 11th Street to East on Chipman Road. Property is contiguous to Romley Estates Subdivision.
Geo Lat: 33.402216
Geo Lon: -112.056462
Status Change Info
Status Change Date: 2020-12-24
Legal Info
Township: 1N
Range: 3E
Section: 28
Lot Number: 064-B
Cnty Rcrd Bk & Pg #: 113-50
Income & Expenses
Owner Association: No
Operating Exp: 1446
Gross Annual Sch Inc: 302691
Vacancy Allowance: 0.05
Adjusted Gross Inc: 287556.45
Totl Mnth Rntal Inc: 25141
Net Operating Income: 211866
Pmt & Rate Info
Cap Rate: 4.94
Down Payment %: 25
Equity: 4292500
Showing Instructions
To Schedule Showing: Contact Via Text
ARMLS Lockbox: No
2 Bedroom Units
# 2 Bedroom Units: 10
Avg Rent: 1230
Avg SqFt: 780
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 8
Avg Rent: 1662
Avg SqFt: 1044
# Baths: 2
Contact Info
List Agent Home Phn: 602-380-3536
List Agent Cell Phn: 602-380-3536
Property Features
Project Type: 13 - 24 Units
Construction: Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Foam
Floors: Vinyl/Composition; Carpet
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Desert Landscaping; Fenced; Cable TV Available; Patio/Balcony
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Heating: Electric
Cooling: Electric Refrigeratd; Heat Pump
Water: City Franchise; Individual Meter
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: None
Parking: >1 Space Per Unit; Free; Paved Parking
Roads/Streets: Dedicated Street
Owner Pays: Trash Collection; Landscaping
Tenant Pays: Water; Sewer; Electric
Source of Fincl Data: Projected Proforma
New Financing: Conventional
Reports/Disclosures: Development Plan Avl
Environmental: None

Listing Office: eXp Realty

Last Updated: February - 23 - 2021

1135 E CHIPMAN Road, Phoenix, AZ 85040 - MLS# 6174494

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Saturday 27th of February 2021 09:09 PM