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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.