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PHOENIX-Chowdary Yalamanchili, a Houston-based real estate investor, purchased for $4.36 million the Canyon Point Apartments. The complex has 144-unit and is located at 3621 N. Black Canyon Freeway in Phoenix. The sale price equates to a little more than $30,000 per apartment.

The complex is just east of the Black Canyon Highway and north of Osborn Road. The complex is within two miles of both Grand Canyon University and Phoenix College. Nearby amenities include Chris-Town Mall and Park Central Mall.

The 101,775-sf apartment community was built in 1981 and was 96 percent occupied at the time of sale.

The complex was sold by Garden Pointe Property Investors, LLC, a Phoenix-based limited liability company. The Phoenix office of CB Richard Ellis, with broker Todd Braun, negotiated the sale for both the buyer and seller.

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