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Property profile & analytics
OFF-MARKET
Estimated value
$3,185,000
Apartment buildings
3901 Ep True Pkwy West Des Moines, IA 50265
Entity Owned
17-yr Hold
Property ID
US25-0167772
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1991
Construction
FRAME
Total area
28,108 SF
Lot
10 ac (435,469 SF)
Zoning code
RH
APN
320/04116-338-001
UPID
US25-0167772
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
$3.36M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.19M
Owner & transaction history
Westbrooke Residential Corp · 17 yrs held
Westbrooke Residential Corp
since 2008
2 recorded transactions
Zoning & alternative use
RH · West Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.8M
+13.7%
Auto repair, garage
$4.4M
+2.6%
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 West Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,635,000
6.5%
$3,355,000
7%
$3,115,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,255,000
Current use
RESTAURANT
$4,840,000
Change: +14% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,365,000
Change: +3% · Conversion: Difficult
MEDICAL BUILDING
$4,245,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$3.19M
Range $2.87M – $3.50M · ±10%
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
$113 / 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
$191,800
Tax year 2020
Assessed value
$12,730,000
Assessed 2023
Previous assessed
$12,730,000
+0.0% YoY
Effective rate
1.51%
On assessed value
Assessed land
$1,580,000
Assessed improvement
$11,150,000
Land market value
$1,580,000
Improvement market value
$11,150,000
Total market value
$12,730,000
Applied tax rate
20.0000
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
1991
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
6
Stories
3
Units
32
Rooms
5
Bathrooms
1
Total area
28,108 SF
Lot
10 ac (435,469 SF)
Zoning code
RH
APN
320/04116-338-001
UPID
US25-0167772
Jurisdiction
POLK
Zoning & alternative use
RH · West Des Moines, IA
Zoning RH · permitted uses
RH · West Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West 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
$4.3M
RESTAURANT
Est. value
$4.8M
AUTO REPAIR, GARAGE
Est. value
$4.4M
MEDICAL BUILDING
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1991
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
6
Units
32
Rooms
5
Bathrooms
1
Lot
10 ac
Current owner
From public records · entity-resolved
Westbrooke Residential Corp
Entity
Mailing address
4010 UNIVERSITY AVE, DES MOINES, IA 50311-3563
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2008
—
Westbrooke Residential Corp
Westbrooke LLC
Corporation Deed
—
Jan 11, 2007
$8,479,500
Westbrooke LLC
Westbrooke Myers LLC
Warranty 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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