510 N HORNE, Mesa, AZ 85203
$4,950,000
Property Type: Multiple Dwellings Status: Active
Current Price: $4,950,000 Last Modified: 2/24/2026
Description
The Riggs Circle Apartments consists of 25 units, all 2bed/1bath with private yards and washer/dryer in unit. The garden style property has covered parking and an on site pool for tenant amenities. 16 of the 25 units have now been renovated and the property is fully occupied.
More Information MLS# 6989104
Contract Info
Ownership: Fee Simple Current Price: $4,950,000 List Price: $4,950,000 Status: Active List Date: 2026-02-24
Location, Tax & Legal
Assessor's Map #: 13 Legal Description (Abbrev): GREEN ACRES REPLATTED - LOTS 13, 14, 15 AND 16 EX TH E 109.5F OF LOTS 13 AND 14 Assessor's Parcel #: 92 Assessor Parcel Ltr: A Add'l Parcels: No Tax Municipality: Mesa Census Tract: 420902 Taxes: 8748 Legal: GREEN ACRES REPLATTED - LOTS 13, 14, 15 AND 16 EX TH E 109.5F OF LOTS 13 AND 14 Marketing Name: Riggs Circle Apartments House Number: 510 Compass: N Street Name: HORNE St Suffix: -- City/Town Code: Mesa State/Province: AZ Zip Code: 85203 Zip4: 7134 County Code: Maricopa Subdivision: GREEN ACRES RE-PLATTED Assessor Number: 137-13-092-A Tax Year: 2025
General Property Description
# of Buildings: 7 Uncvrd Parking Spcs: 25 Lot Size Dimensions: IRR Total # of Units: 25 Elementary School District: Mesa Unified District High School District: Mesa Unified District Year Built: 1971 Zoning: M-H
Legal Info
Range: 5E Section: 14 Township: 1N Lot Number: 13
Project Type
25 - 50 Units: 1
Construction
Block: 1
Const - Finish
Stucco: 1
Roofing
Composition: 1
Floors
Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 8748 Other Income: 15000 Vacancy Allowance: 0.05 Adjusted Gross Inc: 434625
Pmt & Rate Info
Cap Rate: 6.47 Equity: 4950000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used Email: 1
Lockbox Type
None: 1
Community Features
Pool: 1
Heating
Electric: 1
Cooling
Ceiling Fan(s): 1 Electric: 1 Individual: 1
Exterior Amenities
Landscape Water System: 1 Green Landscaping: 1 Partially Fenced: 1
Interior Features
Fire/Smoke Alarm(s): 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1 Disposal: 1 Microwave: 1 Refrigerator: 1 Built-In Range: 1 Washer/Dryer: 1
Road Access Type
City Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Free: 1 >1 Space Per Unit: 1 Paved: 1 Assigned: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1 Sewer: 1 Trash Collection: 1 Landscaping: 1
New Financing
Cash: 1 Conventional: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 25 Avg Rent: 1475 Avg SqFt: 650 # Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: Horne and University Drive Directions: From Horne and University, drive north of Horne. Property is on west side of street. Geo Lat: 33.424138 Geo Lon: -111.814839
Income Expenses
Gross Annual Sch Inc: 442500 Net Operating Income: 320250
Property Features
Project Type: 25 - 50 Units Construction: Block Const - Finish: Stucco Roofing: Composition Floors: Tile Sale Includes: Land & Building Community Features: Pool Exterior Amenities: Landscape Water System; Green Landscaping; Partially Fenced Interior Features: Fire/Smoke Alarm(s) Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Cooling: Ceiling Fan(s); Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: >1 Space Per Unit; Assigned; Free; Paved Road Access Type: City Street Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Projected Proforma Showing Notification Methods: Email Lockbox Type: None New Financing: Cash; Conventional Environmental: None
Listing Office: Orion Investment Real Estate
Last Updated: February - 24 - 2026
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