Residential Income Property with Pool
For Sale
$119,900
461 W HOLMES Avenue 228, Mesa, AZ 85210
The second-floor unit includes in-unit laundry and overlooks the property’s pool and tennis courts.
Property Size570 SF
Days on Market10
Property Features for 461 W HOLMES Avenue 228
General Information
Standard status
Active
Size
570 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$243
Amenities
pool
tennis courts
in unit laundry
Building Details
Building Size
570 SF
Year Built
1985
Listing Agency:
Desert Valley Realty Investments & Property Management, LLC
Listed By:
Orlando Bertolo
(480) 266-8005
Source:
Gillettegroupaz
Added: Oct 8
Changed: Oct 16
Last Checked: Oct 16 at 2:06PM
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 Desert Valley Realty Investments & Property Management, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This residential income property is a second-floor unit built in 1985, with laundry facilities located inside the residence.
Views from the unit extend over the pool and tennis courts.
Views from the unit extend over the pool and tennis courts.
Key Highlights
- Second‑floor residence with views of the pool and tennis courts
- In‑unit laundry
- Built in 1985
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,458
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$89,160
$89.2K
Cap Rate 7%
$63,686
$63.7K
Cap Rate 9%
$49,533
$49.5K
Market Conditions
NOI Build-Up for 570 SF
Gross rent
$8.7K $15.24/SF
− Vacancy
−$582 −$1.02/SF
EGI
$8.1K $14.22/SF
− OpEx
−$3.6K −$6.40/SF
NOI
$4.5K $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%
$89,160
Cap Rate 7%
$63,686
Cap Rate 9%
$49,533
Alternative Uses
Best Use
Apartment 5plus
$63.7K
$55.7K – $74.3K
NOI $4,458 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$156.2K
$136.7K – $182.3K
NOI $10,937 @ 7.0% cap · market cap 9.12%
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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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - The second-floor unit includes in-unit laundry and overlooks the property’s pool and tennis courts.
Where is this residential income property located?
The property is located at 461 W HOLMES Avenue 228 Mesa, AZ.
What is the asking price?
The asking price for this property is $119,900.
What are key features of this property?
This property features: Second‑floor residence with views of the pool and tennis courts; In‑unit laundry; Built in 1985
