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Property profile & analytics

1601 Army Post Rd Des Moines, IA 50320-1805

  • Warehouses
  • 27,000 SF
  • 4.69 lot acres
OFF-MARKET
Value Estimations
$700,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US25-0289971
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Luxxor Limousine & Coach Bus / Airport Shuttle Service / Bus Company

Property Details for 1601 Army Post Rd

Year built
2023
Construction
STEEL FRAME
Lot size
4.69 lot acres
Property size
27,000 SF
Zone code
C-2
Property type
Warehouses
APN
120/07399-202-000
APU
12007399202000

Description

This exceptional investment opportunity presents a 25-unit mobile home park in Des Moines, Iowa, situated at 1601 Army Post Rd, zip code 50315. The property, built in 1954 and extensively renovated in 2021, boasts a 7.82% cap rate and a current NOI of $144,700. Currently operating at 76% occupancy (as of April 24, 2024), this Class B stabilized investment offers significant upside potential. The park features 25 pads, each valued at $74,000, with an asking price of $1,850,000. Over $750,000 in capital improvements have been completed since 2020, including new water and sewer lines, electrical upgrades, paved streets, and home renovations. The park benefits from an on-site manager who receives free lot rent in exchange for property management and maintenance assistance. Current tenants are primarily month-to-month, many long-term. The seller is open to seller financing options, including a seller second, with a preferred term of 3-5 years. The property's location within the desirable Des Moines market, coupled with the extensive recent renovations and the potential for increased revenue through rent adjustments and home sales, makes this a compelling investment prospect. Water, trash, and snow removal are currently handled by the ownership, offering opportunities for expense reduction through potential pass-through billing to residents. The park is actively undergoing further improvements, including patio additions and renovations of vacant units.


Value Estimations

based on Realmo’s proprietary methodology
  • AI approach

    Method
    Estimation
    ML approach
    $700,000

Get a detailed, property-specific valuation — fast and free


Location Insight

  • Map
  • Local Demand
City
Des Moines
County
Polk
State
Iowa
Longitude
-93.5929
Latitude
41.5255
CBSA code
19780
CBSA name
DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$56,056
$237,000
$2,531,800
$2,768,800
-
$237,000
$2,531,800
$2,768,800
More about this property
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