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Property profile & analytics
OFF-MARKET
Estimated value
$2,520,000
Apartment buildings
1201 Bell Ave Des Moines, IA 50315-7400
Entity Owned
3-yr Hold
Absentee Owner
Property ID
US25-0089186
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1997
Construction
FRAME
Total area
12,999 SF
Lot
2 ac (87,294 SF)
Zoning code
R-3
APN
010/03810-001-002
UPID
US25-0089186
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
Current use
Occupant on record · Public records
-
Bell Avenue Apartment Complex Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.45M
CAP Approach
CAP
$1.67M
Comparable Approach
Comparable
$2.26M
Blend (final)
Blend
$2.52M
Owner & transaction history
Vc7 LLC · 3 yrs held
Vc7 LLC
since 2022
Last sale
$2.7M
5 recorded transactions
Zoning & alternative use
R-3 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.2M
+17.0%
Medical building
$2.2M
+13.0%
Restaurant
$2.0M
+4.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Des Moines submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,455,000
ML approach
$2,445,000
CAP Approach
CAP Return
Estimation
6%
$1,805,000
6.5%
$1,665,000
7%
$1,550,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,915,000
Current use
AUTO REPAIR, GARAGE
$2,240,000
Change: +17% · Conversion: Difficult
MEDICAL BUILDING
$2,165,000
Change: +13% · Conversion: Moderate
RESTAURANT
$2,005,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$2.52M
Range $2.27M – $2.77M · ±10% · vs last sale $2.72M (Nov 2 2022)
Last sale anchor
$2.72M
Nov 2 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$194 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$57,688
Tax year 2020
Assessed value
$2,580,000
Assessed 2023
Previous assessed
$2,580,000
+0.0% YoY
Effective rate
2.24%
On assessed value
Assessed land
$236,000
Assessed improvement
$2,344,000
Land market value
$236,000
Improvement market value
$2,344,000
Total market value
$2,580,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1997
Construction
FRAME
Heating
BASEBOARD
Cooling
YES
Buildings
3
Stories
3
Units
12
Total area
12,999 SF
Lot
2 ac (87,294 SF)
Zoning code
R-3
APN
010/03810-001-002
UPID
US25-0089186
Jurisdiction
POLK
Zoning & alternative use
R-3 · Des Moines, IA
Zoning R-3 · permitted uses
R-3 · Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Des Moines. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$2.2M
RESTAURANT
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1997
Construction
FRAME
Heating
BASEBOARD
Cooling
Yes
Stories
3
Buildings
3
Units
12
Lot
2 ac
Current owner
From public records · entity-resolved
Vc7 LLC
Entity
Mailing address
6366 HAWTHORN LN, LAKEWOOD, CO 80227-3689
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2022
$2,715,000
Vc7 LLC
1201 E Bell Ave LLC
Warranty Deed
$1,870,000 · First Interstate Bank
Oct 19, 2021
$2,475,000
1201 E Bell Ave LLC
Swift Properties II LLC
Warranty Deed
$1,888,000 · First National Bank Ames Iowa
Jun 4, 2018
$1,900,000
Swift Properties II LLC
Milestone Investments LLC
Warranty Deed
$1,520,000 · Lincoln Savings Bank
Mar 15, 2010
—
Milestone Investments LLC
—
Deed Of Trust
related
$1,300,000 · Mutual Of Omaha Bank
Feb 17, 2010
$1,100,000
Milestone Investments LLC
Sheriff Of Polk County
Trustees Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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