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Property profile & analytics
OFF-MARKET
Estimated value
$2,075,000
Apartment buildings
4700 Ep True Pkwy West Des Moines, IA 50265-6486
Entity Owned
4-yr Hold
Free & Clear
Property ID
US25-0090694
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1990
Construction
FRAME
Total area
13,587 SF
Lot
26.38 ac (1,149,113 SF)
Zoning code
PUD MD
APN
320/04116-596-000
UPID
US25-0090694
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
-
Wellington Apartments Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.07M
CAP Approach
CAP
$1.62M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.08M
Owner & transaction history
Amfp V Wellington LLC · 4 yrs held
Amfp V Wellington LLC
since 2022
Last sale
$2.4M
4 recorded transactions
Zoning & alternative use
PUD MD · West Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.3M
+13.7%
Auto repair, garage
$2.1M
+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
$1,830,000
ML approach
$2,065,000
CAP Approach
CAP Return
Estimation
6%
$1,755,000
6.5%
$1,620,000
7%
$1,505,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,055,000
Current use
RESTAURANT
$2,340,000
Change: +14% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,110,000
Change: +3% · Conversion: Difficult
MEDICAL BUILDING
$2,050,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$2.08M
Range $1.87M – $2.28M · ±10% · vs last sale $2.43M (Jan 12 2022)
Last sale anchor
$2.43M
Jan 12 2022
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
$153 / 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
$462,536
Tax year 2020
Assessed value
$23,600,000
Assessed 2023
Previous assessed
$23,600,000
+0.0% YoY
Effective rate
1.96%
On assessed value
Assessed land
$4,180,000
Assessed improvement
$19,420,000
Land market value
$4,180,000
Improvement market value
$19,420,000
Total market value
$23,600,000
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
1990
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
17
Stories
3
Units
15
Rooms
5
Bathrooms
2
Total area
13,587 SF
Lot
26.38 ac (1,149,113 SF)
Zoning code
PUD MD
APN
320/04116-596-000
UPID
US25-0090694
Jurisdiction
POLK
Zoning & alternative use
PUD MD · West Des Moines, IA
Zoning PUD MD · permitted uses
PUD MD · 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
$2.1M
RESTAURANT
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$2.1M
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
1990
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
17
Units
15
Rooms
5
Bathrooms
2
Lot
26.38 ac
Current owner
From public records · entity-resolved
Amfp V Wellington LLC
Entity
Free & Clear · 4 yrs held
Mailing address
100 PARK AVE #3500, NEW YORK, NY 10017-5516
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 12, 2022
$2,430,000
Amfp V Wellington LLC
True Parkway LLC
Special Warranty Deed
—
Aug 5, 2014
$28,088,500
True Parkway LLC
Orep Des Moines Owner LP
Trustees Deed
$24,375,000 · Amerisphere Multifamily Fin Ll
Dec 30, 2009
—
Ny Credit Cms Portfolio LLC
—
Deed Of Trust
related
$25,500,000 · Natixis Real Estate Capital
Dec 14, 2009
$23,000,000
Ny Credit Cms Portfolio LLC
Cms Apartment Portfolio LLC
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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