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Property profile & analytics
OFF-MARKET
Estimated value
$24,725,000
Apartment buildings
7201 5th St Des Moines, IA 50315-6400
Entity Owned
2-yr Hold
Property ID
US25-0013550
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1977
Construction
FRAME
Total area
24,492 SF
Lot
4.75 ac (206,910 SF)
Zoning code
R-6
APN
120/07397-002-000
UPID
US25-0013550
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
-
The Ridges Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$24.73M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$24.73M
Owner & transaction history
Hmr Pty Owner LLC · 2 yrs held
Hmr Pty Owner LLC
since 2024
Last sale
$24.7M
7 recorded transactions
Zoning & alternative use
R-6 · 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
Method
Estimation
Statistic approach
$24,725,000
ML approach
$24,725,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$24.73M
Range $22.25M – $27.20M · ±10% · vs last sale $24.73M (Feb 22 2024)
Last sale anchor
$24.73M
Feb 22 2024
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
$1,010 / 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
$150,590
Tax year 2020
Assessed value
$5,350,000
Assessed 2023
Previous assessed
$5,350,000
+0.0% YoY
Effective rate
2.81%
On assessed value
Assessed land
$675,000
Assessed improvement
$4,675,000
Land market value
$675,000
Improvement market value
$4,675,000
Total market value
$5,350,000
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
1977
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
3
Stories
3
Units
30
Total area
24,492 SF
Lot
4.75 ac (206,910 SF)
Zoning code
R-6
APN
120/07397-002-000
UPID
US25-0013550
Jurisdiction
POLK
Zoning & alternative use
R-6 · Des Moines, IA
Zoning R-6 · permitted uses
R-6 · 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
1977
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
3
Units
30
Lot
4.75 ac
Current owner
From public records · entity-resolved
Hmr Pty Owner LLC
Entity
Mailing address
1700 INGALLS ST, LAKEWOOD, CO 80214-1510
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 22, 2024
$24,725,000
Hmr Pty Owner LLC
Dsm Portfolio 1 Holdings LLC
Limited Warranty Deed
—
Jun 22, 2021
$4,900,000
Dsm Portfolio 1 Holdings LLC
Hillcrest Group LLC
Special Warranty Deed
—
Dec 2, 2009
—
Hillcrest Residl Hsng Coopera
Sonneman,tad D & Julie
Warranty Deed
related
—
Aug 3, 2009
—
Tad D Sonneman
—
Deed Of Trust
related
$2,296,000 · Luana Savings Bank
Jan 11, 2006
—
Lida Iowa Investments LLC
Lida Properties LLP
Quit Claim Deed
related
—
Jan 11, 2006
$3,100,000
Tad D Sonneman
Lida Iowa Investments LLC
Warranty Deed
$2,480,000 · Impac Multifamily Capital Corp
—
—
Hillcrest Group LLC
—
Deed Of Trust
related
$3,200,000 · Dougherty Mtg
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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