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Property profile & analytics
OFF-MARKET Estimated value $505,000
Apartment buildings

114 College Ave Ankeny, IA 50023-2127

4,352 SF 0.49 ac lot Built 1966
Entity Owned 6-yr Hold Free & Clear
Property ID
US25-0440182
Property profile
Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Year built 1966
Construction FRAME
Total area 4,352 SF
Lot 0.49 ac (21,350 SF)
Zoning code R-3
APN 181/00392-050-000
UPID US25-0440182
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$530k
CAP Approach CAP
$520k
Comparable Approach Comparable
$473k
Blend (final) Blend
$505k
Owner & transaction history
Alfas Properties LLC · 6 yrs held
Alfas Properties LLC
since 2020
Last sale
$615,000
4 recorded transactions
2020
Price N/A
2019
$615,000
2018
$290,000
2014
Price N/A
Zoning & alternative use
R-3 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

A. Any uses permitted in the R-3 District, provided that any new residential uses shall be located only in mixed use buildings that also contain, usually on the first floor, other allowable commercial or office uses. (Ord. 2054 - Apr. 21 Supp.) B. Retail businesses or service establishments, such as the following: (1) Antique shops, (2) Apparel shops, (3) Ar…

Zone name Multiple Family Residence
General category RESIDENTIAL
Zone area 2,613.84 ac
Top alternative use upside
Auto repair, garage $675,000 +54.7%
Medical building $655,000 +50.4%
Commercial (general) $630,000 +43.9%
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