Two-Bedroom
For Sale
$190,000
461 W HOLMES Avenue 224, Mesa, AZ 85210
The unit combines private balcony access with shared recreation amenities, including a pool, tennis courts, and pickleball courts.
Property Size846 SF
Days on Market9
Property Features for 461 W HOLMES Avenue 224
General Information
Standard status
Active
Size
846 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$393
Amenities
balcony
pool
tennis and pickleball courts
green spaces
common areas
Building Details
Building Size
846 SF
Year Built
1981
Listing Agency:
Property Hub LLC
Listed By:
Matt Jimenez · License #SA707750000
(480) 202-9715
Source:
Gillettegroupaz
Added: Oct 9
Changed: Oct 16
Last Checked: Oct 16 at 2:02PM
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 Property Hub LLC
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Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bath condominium at Circle Tree Condominiums was built in 1981. Interior features include wood-look flooring in the living room, blinds, and a kitchen with white cabinetry and stainless steel appliances. The primary bedroom has carpeting, a built-in closet with mirrored doors, and an en-suite bathroom. A balcony extends the unit's living area outdoors.
Key Highlights
- 2‑bedroom, 2‑bath condominium unit
- Built in 1981
- Balcony, wood‑look living room flooring, and blinds
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,616
Cap Rate
3.48%
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 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$231.9K
$202.9K – $270.6K
NOI $16,233 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
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 unit combines private balcony access with shared recreation amenities, including a pool, tennis courts, and pickleball courts.
Where is this residential income property located?
The property is located at 461 W HOLMES Avenue 224 Mesa, AZ.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath condominium unit; Built in 1981; Balcony, wood‑look living room flooring, and blinds
