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Property profile & analytics
OFF-MARKET
Apartment buildings
1511 Grand Ave Des Moines, IA 50309-3025
Entity Owned
12-yr Hold
Free & Clear
Property ID
US25-0398601
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2003
Construction
FRAME
Total area
3,252 SF
Lot
0.2 ac (8,497 SF)
Zoning code
C-3A
APN
030/03463-001-000
UPID
US25-0398601
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
-
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Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
15th & Grand Properties LLC · 12 yrs held
15th & Grand Properties LLC
since 2014
7 recorded transactions
Zoning & alternative use
C-3A · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$10,580
Tax year 2020
Assessed value
$306,000
Assessed 2023
Previous assessed
$306,000
+0.0% YoY
Effective rate
3.46%
On assessed value
Assessed land
$280,000
Assessed improvement
$26,000
Land market value
$280,000
Improvement market value
$26,000
Total market value
$306,000
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
2003
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Units
5
Rooms
4
Bathrooms
1
Total area
3,252 SF
Lot
0.2 ac (8,497 SF)
Zoning code
C-3A
APN
030/03463-001-000
UPID
US25-0398601
Jurisdiction
POLK
Zoning & alternative use
C-3A · Des Moines, IA
Zoning C-3A · permitted uses
C-3A · 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.
Building & site characteristics
From public records
Year built
2003
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Units
5
Rooms
4
Bathrooms
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
15th & Grand Properties LLC
Entity
Free & Clear · 12 yrs held
Mailing address
3408 WOODLAND AVE STE #504, WEST DES MOINES, IA 50266-6505
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2014
$300,000
15th & Grand Properties LLC
1511 Grand Cooperative Hsng As
Warranty Deed
—
Jul 2, 2014
—
Grand Cooperative Hsng As 1511
Nahas,james J & Debra
Warranty Deed
related
—
Jun 27, 2014
$155,000
James J Nahas
Nelson,james L
Warranty Deed
—
Jun 27, 2014
—
James J Nahas
Nelson Nelson & Nelson LLC
Quit Claim Deed
related
—
Jan 2, 2008
—
1511 Grand Cooperative Hsng
Nahas,james J & Debra
Grant Deed
related
—
Jun 23, 2006
—
Nelson Nelson & Nelson LLC
Cirksena,julie A
Quit Claim Deed
related
—
Dec 21, 2005
—
Nelson Nelson & Nelson LLC
Cirksena,julie A
Quit Claim Deed
related
—
Oct 26, 2005
—
Julie A Cirksena
Nelson,james L
Grant Deed
related
—
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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