Renovated Residential Income
For Sale
$224,900
461 W Holmes Avenue 211, Mesa, AZ 85210
The two-bedroom, two-bath residence includes an updated kitchen with stainless steel appliances.
Property Size846 SF
Price / SF$265.84
Days on Market57
Property Features for 461 W Holmes Avenue 211
General Information
Standard status
Active
Size
846 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$321
Amenities
pool
spa
tennis court
pickleball court
basketball court
BBQ area
clubhouse
gated
night security patrol
Building Details
Building Size
846 SF
Year Built
1981
Listing Agency:
West USA Realty
Listed By:
Diane Hale · License #SA025400000
(480) 282-7929
Source:
Inspiredrealestatelife
Added: Sep 7
Changed: Oct 26
Last Checked: Oct 31 at 2:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of West USA Realty
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Investment Insights
Based on property information with market context.
This 846-square-foot condominium in Mesa offers two bedrooms and two full bathrooms. Built in 1981, the residence has undergone renovation, including kitchen and bathroom updates, refurbished countertops, and stainless steel appliances.
Circle Tree Community provides four pools, a spa, tennis and pickleball courts, basketball courts, four barbecue areas, and a clubhouse. On-site management serves the community, which is gated during nights and weekends and has a night security patrol.
The property is near freeways, Cubs Spring Training, downtown Mesa, Sloan Field, parks, shopping, dining, bus routes, and light rail. One pet under 20 pounds is permitted, and a home warranty is included.
Circle Tree Community provides four pools, a spa, tennis and pickleball courts, basketball courts, four barbecue areas, and a clubhouse. On-site management serves the community, which is gated during nights and weekends and has a night security patrol.
The property is near freeways, Cubs Spring Training, downtown Mesa, Sloan Field, parks, shopping, dining, bus routes, and light rail. One pet under 20 pounds is permitted, and a home warranty is included.
Key Highlights
- 846‑square‑foot condominium with 2 bedrooms and 2 full bathrooms
- Renovation includes kitchen and bathroom updates, refurbished countertops, and stainless steel appliances
- Circle Tree Community has 4 pools, a spa, tennis and pickleball courts, and basketball courts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,616
Cap Rate
2.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$132,320
$132.3K
Cap Rate 7%
$94,514
$94.5K
Cap Rate 9%
$73,511
$73.5K
Market Conditions
NOI Build-Up for 846 SF
Gross rent
$12.9K $15.24/SF
− Vacancy
−$864 −$1.02/SF
EGI
$12.0K $14.22/SF
− OpEx
−$5.4K −$6.40/SF
NOI
$6.6K $7.82/SF
Area
Mesa, AZ
Vacancy
6.70%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$132,320
Cap Rate 7%
$94,514
Cap Rate 9%
$73,511
Alternative Uses
Best Use
Apartment 5plus
$94.5K
$82.7K – $110.3K
NOI $6,616 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$231.9K
$202.9K – $270.6K
NOI $16,233 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,389
Businesses Nearby
Explore this area
Business Placement
Demographics for 85210, AZ
40,351
Population
16,292
Households
2.5
Avg Household Size
32
Median Age
25%
College-Educated
84%
High-School Grad
6.7 sq mi
ZIP Area
6,023
Density / Sq Mi
$59,680
Median Household Income
$38,479
Median Earnings
$1,383
Median Rent
$301,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom, two-bath residence includes an updated kitchen with stainless steel appliances.
Where is this residential income property located?
The property is located at 461 W Holmes Avenue 211 Mesa, AZ.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: 846‑square‑foot condominium with 2 bedrooms and 2 full bathrooms; Renovation includes kitchen and bathroom updates, refurbished countertops, and stainless steel appliances; Circle Tree Community has 4 pools, a spa, tennis and pickleball courts, and basketball courts
