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Property profile & analytics
OFF-MARKET
Estimated value
$11,405,000
Apartment buildings
1500 Edgewater Dr Pleasant Hill, IA 50327-0946
Entity Owned
7-yr Hold
Property ID
US25-0181213
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2005
Construction
FRAME
Total area
155,276 SF
Lot
6.66 ac (290,110 SF)
Zoning code
R-4
APN
221/00219-698-001
UPID
US25-0181213
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.41M
Owner & transaction history
Irc II INC · 7 yrs held
Irc II INC
since 2018
3 recorded transactions
Zoning & alternative use
R-4 · Pleasant Hill, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The R-4 zoning district is intended to provide for certain high density residential areas of the City for the development of manufactured and mobile home parks (herein after referred to as manufactured home parks), which by reason of their design and location will be compatible with nearby residential and nonresidential areas. For the purposes of this sectio…
Zone name
Mobile Home Park
General category
RESIDENTIAL
Zone area
30.52 ac
Source
Realmo
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 Pleasant Hill submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pleasant Hill 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$73 / 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
$193,518
Tax year 2020
Assessed value
$13,300,000
Assessed 2023
Previous assessed
$13,300,000
+0.0% YoY
Effective rate
1.46%
On assessed value
Assessed land
$866,000
Assessed improvement
$12,434,000
Land market value
$866,000
Improvement market value
$12,434,000
Total market value
$13,300,000
Applied tax rate
3.0000
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 (100+ UNITS)
Status
Off-Market
Year built
2005
Construction
FRAME
Heating
CENTRAL
Buildings
1
Stories
4
Units
121
Total area
155,276 SF
Lot
6.66 ac (290,110 SF)
Zoning code
R-4
APN
221/00219-698-001
UPID
US25-0181213
Jurisdiction
POLK
Zoning & alternative use
R-4 · Pleasant Hill, IAZoning R-4 · permitted uses
R-4 · Pleasant Hill, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The R-4 zoning district is intended to provide for certain high density residential areas of the City for the development of manufactured and mobile home parks (herein after referred to as manufactured home parks), which by reason of their design and location will be compatible with nearby residential and nonresidential areas. For the purposes of this section, the term manufactured home shall also refer to mobile home.
Zone name
Mobile Home Park
General category
RESIDENTIAL
Zone area
30.52 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2005
Construction
FRAME
Heating
CENTRAL
Stories
4
Buildings
1
Units
121
Lot
6.66 ac
Current owner
From public records · entity-resolved
Irc II INC
Entity
Mailing address
1044 N 115TH ST STE #500, OMAHA, NE 68154-4410
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 2, 2018
$8,540,000
Irc II INC
Pleasant Hill 1 LLC
Warranty Deed
$16,500,000 · First National Bank Of Omaha
Apr 12, 2005
—
Pleasant Hill 1 LLC
—
Deed Of Trust
related
$10,800,000 · M & I Marshall & Isley Bank
—
—
Pleasant Hill 1 LLC
—
Loan Modification
related
$9,418,370 · Bmo Harris Bank
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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