510 N HORNE, Mesa, AZ 85203
$4,950,000
Property Type: Multiple Dwellings Status: Active
Current Price: $4,950,000 Last Modified: 3/11/2026
Overview
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.
Listing Details MLS# 6989104
Location, Tax & Legal
- 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
- 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
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- IRR
- Year Built
- 1971
- Uncvrd Parking Spcs
- 25
- Total # of Units
- 25
- # of Buildings
- 7
- Zoning
- M-H
- Elementary School District
- Mesa Unified District
- High School District
- Mesa Unified District
Remarks Misc
- Cross Street
- Horne and University Drive
- Directions
- From Horne and University, drive north of Horne. Property is on west side of street.
Legal Info
- Township
- 1N
- Range
- 5E
- Section
- 14
- Lot Number
- 13
Income Expenses
- Gross Annual Sch Inc
- 442500
- Net Operating Income
- 320250
More Information
Showing Notification Methods
- Showing Service
- No Showing Service Used
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- 25
- Avg Rent
- 1475
- Avg SqFt
- 650
- # Baths
- Yes
Project Type
- 25 - 50 Units
- Yes
Construction
- Block
- Yes
Const - Finish
- Stucco
- Yes
Roofing
- Composition
- Yes
Floors
- Tile
- Yes
Sale Includes
- Land & Building
- Yes
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
Lockbox Type
- None
- Yes
Community Features
- Pool
- Yes
Heating
- Electric
- Yes
Cooling
- Ceiling Fan(s)
- Yes
- Electric
- Yes
- Individual
- Yes
Exterior Amenities
- Landscape Water System
- Yes
- Green Landscaping
- Yes
- Partially Fenced
- Yes
Interior Features
- Fire/Smoke Alarm(s)
- Yes
Tenant Pays
- Electricity
- Yes
Appliances Included
- Dishwasher
- Yes
- Disposal
- Yes
- Microwave
- Yes
- Refrigerator
- Yes
- Built-In Range
- Yes
- Washer/Dryer
- Yes
Road Access Type
- City Street
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Projected Proforma
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Free
- Yes
- >1 Space Per Unit
- Yes
- Paved
- Yes
- Assigned
- Yes
Electric
- SRP
- Yes
Gas
- None
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
- Landscaping
- Yes
New Financing
- Cash
- Yes
- Conventional
- Yes
Reports/Disclosures
- None
- Yes
Environmental
- None
- Yes
Efficiency Units
- Avg Rent
- 0
1 Bedroom Units
- Avg Rent
- 0
3 Bedrooms Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
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: March - 11 - 2026
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