1601 Army Post Rd Des Moines, IA 50320-1805
Property Lookup
Property profile & analytics
1601 Army Post Rd Des Moines, IA 50320-1805
- Warehouses
- 27,000 SF
- 4.69 lot acres
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.
Location Intelligence
Current Use by Public Records
- Luxxor Limousine & Coach Bus / Freight Service / Logistics 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
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,115,000
- 6.5%
- $1,950,000
- 7%
- $1,810,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,521,000
Market price range: $779k - $1.93M -
Alternative Use
- Use
- Estimation
- WAREHOUSE, STORAGE
- $2,480,000 Current use
- COMMERCIAL (GENERAL)
- $2,775,000 Change: +12% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $2,160,000 Change: -13% Conversion: Moderate
Get a detailed, property-specific estimation — 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
