Real Estate Appraisal report

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' L645 $. San Pablo Avenrle, Fnèsnor CaLifornia

A SingLo-Fani'Ly ResÍdtential" Property

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'À P P R A T S A T,+

ü,nlvergitü of 0a1í fo:r¡ia tserkeløy, CaLÍfornLa

'(¿tt¡¡¡ 'Mr. Ken garefa)

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Idaroh. 61 196X

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Sresno,

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TASLD OF CO}fTETVTS %

ïntroduction [it]-ePage... ..... .. . . ï¡etter of Transnittal . . . , . . . . . SunnarXr of SaLient Facts and Important Pu.rpose of theAppraisal . r. . ¡ . . Market"ij'aluelefínítion. .... Photographs of Subject Property. . . .

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Conclusions aaaaao

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Pa.ge i

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Descrfption, AnaLysis, and. Conclusions RegionalData..., o. r .. CityData... o. o.. ..... Neighborhood. Data. . . . . . . . . Site Data. . . . . . . . . r . . . ïmprovementÐata... r . . . o. I,and.Valug..,.... r. r i.

a L b5 3-4 5-6 7-9

11-15 14 I5 15

The Value EstÍmates Cost Approach to Value. . o . . . . . . . . Market Data Approach to Value . . . . Analysís and CoruelatÍon of Value Estímates

ConcLusion of Value. . . . . . . . . . r . . . .

a ï,imiting CondÍtÍons. Certífi catíon. . . .

ExhibÍt Exhlbit Exhibit ExhÍbit Exhibit Exhibit Exhíbít Exhiblt

Exhlbit Exhibit ExhÍbit Erchibit

r.6 17

"19.20 .2L .22 .27 .24 .25 ,26 .28 .29 .3O . 3l-77

aQualifieatíons of the AppraJ-ser a Ad.denda

RegÍonal- Map. . . . . . . . . . . . CountyMap. . . . .. . . . . . .. . Cíty and. Neighborhood Map. . . . . . o . Iüeighborhood Map . . . . . ¡ . . . . . . Comparable Sales Map . . . . . . . . . . PlotPLan. o o. . . . ¡ . . . . . . . . FLoorPlan. . . . . . . . . . . . o o . Land. Sales and Chart . . . . . . o . o . Defùnition of RepJ-aeement Cost

and Method. Ilseci o . . . . . . . Cost Estination (Breakd.own). . o . . r . "A.conred Ðepreciation. . . . . . o . . . Coraparabl-e Property Sal-es and Cl¡art . ,

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Uå.RK M.A"SSTE 4659 East l¡er¡ís Avenue

Fresno,, CalÍfornía

Mry 5, 196L Uníversif,y of Californía, Berkeley, Cal j. forr¡ia

Gentlemen: Attn¡ ï{r. Ken García .A,t your request of ltarch 1, 1961, I have appraisecl.J¿€rrr?

single-famii.y resid.ence at¡ .r¿.

1645 II. San Pablo' Avenr¡e Fresno, California

and legaIIy described as:

Lot L2 of T,ot 49r Poppy'Colony, Fresno, CaLifornia.

The purpose of the appraisaL nas to fincl the narket value of the fee simple interest of tlre property as of March 6, 1961. "4. fuI1defÍnition of narket value as used ln this report wil-l be found on page vfi.

r am herewith subnitting rny report of 42 pagesr sfth exl¡ibits anct photographs. I have tLroroughLy exauine¿ aa¿ investfgated this property, antl this report descrlbes in detaiL the nethoci of appraisal and the data gathered throueh ny investfgation.

It is my opÍnion that the market value of the subjeet property, as of March 6, L961, was:

EIGHT THOUSA}TD T'TVE }IIISIDRTD DOÎ,I,¡RS ($s,5oo.oo)

Re spe ct fhll-y subrnf tteel,

]

iii

Mark Massie

)

SUMMÄRY OF S.ATTENT FACTS AND TMPORTANT CONCüUSTONS

or,rrner of Reeord: Ty¡re of Property:

Rooms and SÍze: Chronological Àge: Effective Age: Estimated Economic' Life:

Lot Size: Ëoning:

HigÏ,rest ancl Eest Use of Land:

Assessed Valuation and. Taxes:

EstÍmates of Value:

W Cost -Approach! Lanð Inprovements

Cost lüew DepreciatLon Àoen¡ed

Deprecíatect Ta1ue of Improvements

Value Indicatecl bv .0os! .Àpproach

Conclusion of Value

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Mrs. i$ellfe Darlow One-story singJ-e-faniJ-y residenee wj-th

detacheð sfngle garage þ roons - 2 bedroons, 1 bath; 11175 sq. ft. 79 years 25 years 25 years

40 ft. x 135 ft. R-2 (towuMultiple FanÍly Resid.er,rtiat)

Peæe'r+ -d

Single- fanily residence

Lanct Improvements fotaL Rqte Taxers

$960 $900 $1260 8g.OB22 $116.97

$9,ãg*g

$10,4oo.oo 4,400.00

s2,750.00

6. 000.00

Value InclÍeated. by lttarket Data Âpproach .

$Br 750 . oo

. $8r5OO.oo

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fhg Purpose of ,the .Aþé.Få1s4:- Îs -estimate the Itlarket. VaLue of the @of,.March6'1961,asagulC[einse}].f.ngthehoEse.

Iriarhet Val.qe Dpfiped: I'The highest pric,e estißatecl in terns of noney ffi wfff brlng if, eqpbsetl for saLe ln the open market, aL1owíng a reasonabLe tine to find a purchaser who buye with howJ.eelge of aLL the uses to whieÏ¡ it is ad.aptedl. ar¡cl whLch Ít fs eapabJ-e of being used.n NàA or#"A', .,.. --*.[.^rat.q--c-.

The Rj'.g}rtq Appral,secl: The f,ee sinpl.e interest.

Adldre,Eg..of the Propertl: ].645 N, San Pablo Avenue, Fresno, CaLffornia.

Ireeal Ðe,sgrlptlon of the Property: Fresno County Assegsorrs ParceL Mâú06;6t. - f,ot L2 of T,at 49 of Poppy Colony of the City of Fresnot GaLifornia.

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,Subje {'U *.91o-l \ ";,n

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et Property , , r..' ur-'. Ç[- \a*L-t'o-V i*t u '*I*Å' tÅ +i*-{-"

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Street scene (lookÍng north), showing subjeet' property on the left vÍ

Street sc6ne (looaing: ssuth), showf-ng subJec property on the rtgþt

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"'tlíe¡r fìnom porch of subJect property looking northt showing builtlinge of tr'resno City OoLLege

vii

REGTON.A], DATA

Fresno County is located ln the lnLanit San Joaquin Valley approxinatel"y eqtr:idLstant from the two -Largest clties in 0a11- fornia--San Francisco and Los .û,nge1es (see Exhfblt .â, in the .åddend.a. ) ftt"se cíties are ruJor suppliers of conmoditåes to the county and, markets for Fresno Oounty prod,ucts.

state andi LocaL gpvornnerrts aud is non-taxabLe. varÍes from mou.ntainous (over L4rOOO feet peaks) in the eastern portÍon to nearL¡i' level as the county extends into tÌ¡e San .Ioaquin llalley. Its clln,ate ls eharacterized by,milclr rainy winfers anel hot, dry sì.rnuners. I{ost of the rainfall (averaging about nine ir¡ches per year in the valley) fal1s ,in the period Isovenber through .å,priL. Normal- terperatures (neasured at the^clty of tr?es4o) in JanuarT/ range fron {ai1y naxi.prums of 55.5'and. lows of 55.9", and ín.Iuly, fron 100.1" and. 64.I". The hunidíty in the sunmer raoaths is gÞneral.Ly below 2irt.

A l,lilrvtThe countyrs wealth prinarily comes from its agriculturalresourees, wÍth nearly 4M of the enployment in the county being agriculture-related (production, processing, or narketing). tr'avorabLe oond-itfonsr partíeu1arL¡¡ c3-inatie¡ have enableal Fresno 0otmty to lead those of the nation J.n agrlcuLturaL protlu,ctiom fsr each of the last ten years. In 1.960, the aor¡atyts totaL agrfcul- tural prod.uctloa was in excess of S38L n:illion. Oottoa and other fielct erops aeeou¡rted for approxinat.eLy S3.6CI nilLion, with pouLtnyt livestock anô dairy contrib¡rting about, ffi'f nill.ion.

fhe econonie growth of the country is illustrated by several. gtatís.tics;

Tear Populatípn Assessecl VaLt4a.tio.n tsaTE Peblts 1940 ]"78,565 &2'101463,00A '8'.'420¡286'000 L95O 276r5L5 534rL7O\OOO 2rOOSrlgOroOo 1960 365,945 801,4501000 15rT97,778,000

I'resno Countyts rate of population gtrowth clurÍng the clecade of L950- t96O, 52J%, exceeded that. of any of the otber eigbt eor¡rnties ia the San Joaquin Va1ley.

qjqr pÀra

flhe efty of tr'resno, which is both the colrnty seat ar¡ci tbe Largest urban area, is Located. near the county|s geographieal center. The eensus of 1960 showecl a population of L77r929 persrons ¡rithin the eity linits and appr'oxíuately 242rOOO persons ín the

nètropoLitan areq,. TÏ¿e cLty ís the ?th largest in Cal"ifornia. Although. the eÍty was founded soon after the completion of the Southern Pacific Raílroad througfr Fresno County ln the early 1870rs, most, of the cityrs growth has come since 1940, duríng whieh tÍne lt has aLmost d.or¡Þlecl its population.

Ibesno Ís senred. by the Southern Paeífic anel Santa Fe raÍl- --t-==:.==:=.---:

o one s sunrer and winter recreationaL areas of the Sierra lrlountaÍns and about three horrrs clístant fron Pacific Oaean resorts. Los 3.ngeLes is approxlnateSy 220. híghway niles to the southeast, ¡rhfLe San Franei,sco is about 185 hÍeh níl-es to tlre north¡rest.

these two eities are substantiaL narkets for nany of the products growa ln the eounty or manufaetured in the city of Fresno. There arê approxiu,ately 470 nar¡ufacturing plants at the present tLue in the netropolltan Fresno area l, large pereentage of tl¡ese are a€trieu1tt¡.re-orlestecl, ( proGe fam inplements, wame nout-

naklng agricuL

¡ and. chenLcaLs th turaL Íaelustriee have þeen at eel to the eí

nunber of

Conuuafty' faeilities have been well-d.evelopecl within the city, inal.udting a nr¡nber of hLgh schools, iunior high schooLst and eLenentary' sehool-s. Fresno Cfty CoLlege has recentJ.y e:çandeé Ínto a caqf)us previousl¡r oeeupiecl by Fresno State CoJ-1ege. The latter Ís nolr oeeupyS.ng a Rew $50 mill1on campus locat,ed approx- iuately sfx rÌlLes fro,n the do¡rntown area of Fresno. Fresno State College has a current earollnent of apBroxinately 613A0 sttrdents.

Fresno has a variety of euLturaL activitíes at least coümeû- surate with its size. It enJoy.s, for example¡ a philha:monic orches- trar, oonnnrnity theater, anel the ad.vantages of havfng I'res*'o State 0o11ege ir¡ íts eRvl-rons. There are a number of churches, park facil-íties, and theaters.

The oityrs record of ecora.omle growtb is ill.ustrateel by such indicators as these:

RetalL Sales Buildin# Pernlts Postal Receípts 1960 L959 1958 r957 r956 1,955 :l.954

i.960 L959 1958 L957 ]-956 ]".95' r954

Not ar¡afLabl.e $55or 529\OOO

512,868, ooo ,071586rOOO 295 1056rOOO 265 r470|OOA 240,171, ooo

87O rr77r5i,AJ" 2t,7761777 2710651850 27,rO7,V42 L5,87 416L5 28r443rL23 221l42r659

87r699r1j't 7r604r+66 3rt52r5Tg 2r648r7OO 21589r59L 2r5B5r57g

lXo &¡

1960 l-959 195e t95T r956 t955 1954

recent

lhis upuard trend ís lÍkely to contfnuer since it lrílL be supported. by faetors suctr as (f) a strong agricultural base--the county has maintaíned its n¿tfonally d.ominant posítfon for the

a*.u\t past ten years and j-s likeLy to increase Íts ]ead. as farners are foreed. i-nto the San Joaqufn Val1ey fron tos Angeles and San Franeísco areasi (Z) increasing

no:s and more the urbanized industria]-jza-

ornia 'ltater Plan which ¡rl.lL aLlow much greater developnent of the San Joaqufn Valley) and the establlshnent of a very Large naval air station at Lenoore, Just 38 mlLes to tbe south of Fresno.

NEIGHB0RHooD

the neighborhood. of the subjeet pmperty has no specÍfic name' but is a slngle-fanily residentía1 area in the eentrsL part of, Ibesnon located. in the ttCJ.ty 0oLLege District.tt It consists of one city bloek, clístÍnctly separated fron aeljofnlng areas by úeÀl\aeê barriers or by markedly dÍfferont characterístics. The block is that of San Fablo .[venue, bound.ed on t]re north by Fresno Cfty Go3.Lege, and on the south by MoKinJ-ey Avenue¡ a througå traffic street. The houses looated. to the east of Sa¡s ?ablo (see txhibit C) and. between this aveaue and. the Santa Fe ralLroad tracks are on two very short deatl end, streets off Ït[cKinley .Àveuue. The residences to the rest, on Del Har Âvenuer are oB larger lots, and those fì¡r- ther west are ruarkedJ.y mor€ ertr)ensive tba¡ those in the subjeèt neÍghborhood.

This nef ghborhood is conslderably south arrd ruest (Z - =

mlLes) of the areas in nhich most new subdivlsions are curirently being; buílt. The sr¡bdivision of the subject nef.ghborhood ocstrrred in the early 1920ts n'ith ¡nost of the hsnes befng constr:ueted. cturlng that period. by a Fregno tract bulJ.derr John Manníng. foday, the neíghborhoocl ís praeticalfy L\q" buflt up, wlth no vacant lots existfng except those Listed in Exhibít. H. The hones' with one or two exeeptíons, are sir,lg[e-f,ani}yr one-story resid.ences. The typíca} Ín4rrovener*t is a three-bedroom, one bathroon CalÍfornia bungaLow. The surrent narket values of the homes are estlxûateal to range fþon $71000 to $111000. The streets are of the 60 foot wittth ty¡rioal sf Fresno, and a¡e Linecl rlth mature shade trees.

The vaLue of the homes ln this neigbborhood. a¡e less than the $12n000 detersinerl in the fed.eraL lã60 Censr¡s of Housing to< be the ¡ned.ian value of o¡rne¡r-occupfed hor¡,ses ín Fresno. Median as used. in this sense lnclicates there were Ju,st about as naûy houses ¡eorbh more than $121000 as there ¡'rere ¡rorth less than this figere.

[he rnain Santa Fe Railroad. tracks are loeated, approxinatel"y 5OO feet to the east of the subject property. .A.ftfrough an everage of l-0 freight and 6 passenger trains pass by dail-yr oonversatíons níth persons lÍving in thío neighborhood indÍcate thatr for theu at Least, the noíse of these trains is not a problem.

*iiI,Y, {,t-ts :4fo{' Va"4nf r l*('t,.t-tt¿-Ä sa]4

i The i¡habltants of thÍs neÍ-gþborhood are-, for the most partt nid.d.le- to old-age, and. are ger,leralLy' hourly paÍd. or lower-saLary lrorkers, or operators of snall retaLl estabLÍshments. There are severaL retired persoas living in thls neighborhood.,' It Ís esti.mated. that tTre annual incomes enjo¡red by the inhabltants

:-=] ,-,:-]-=------:=

Shere is a hígh degree of owner oocupaneys oa tlìls Sen Pabi.o .A¡roaue blsck between }'resno Cfty Co1lege and; McKinley Àvenuet only three of the 28 hones are renter occupíed. The balance are occu,pied by thelr otrners, a condftÍon which ís reflectetl in the wei.l-kept appearance of the nefghborhood.

fhe nain clowntorn cornmerci-aL dlstrict of trÞesno is apBro:r- imately two miles to the sor¡th and. is reactÍIy aecessibLe by au.to- nobile along severaL througb trafficways. There is city bus servlee (noute 5) along San PabLo Àvenue, in front of the subjeot propertyr nith the olosest stop l"ocated at Sc(inl"ey .ârrenue or ooe-ha1f bLock south. ServÍce to the do¡rntonn dLst,ríet fs at t/Z-lnour lnte:rraLs eturlug the day, w'ith no servloe befng avaLLable: ín the evenfag. However, buses continue to operate aLong Va:o trIess Âve*ue, for northbound. passengÞrs, and Wishon Avenue (f,Íve blocke to the west of San Pablo Avenue) for southbound. passengprst tbrorgh the eveaiag at tfe-no:.u.t j.ntervals. The fare on city buses is 25ø.

A wlde vatiety of retail shops are Locatecl, along Va¡r l$iess -Àvenue, approxinately five bLoeks fron the subject property. .An eLenentary-school (ftrotaas T,. Heaton) ís one bLoek south, St. fheresaf s parochlaL school is about seven blocks to the southwest. the aea¡est hlsh sehools arè approxluatety one-half niLe to the west. Fresno Cíty 0oL1ege is but one-half bloek to the nortb of the subJeet property. The najor city park of Fresno, Roeding Park, whish offers a variety of recreational facílitÍes as welL as a zoor is approxinately two miLes southwest of tTre house.

A^ ,,.{ *"}:-t ger*"r*.The elosest fire statíon is but three blocks fron thÍs sub-

ject pæperty.

lhis neÍehborhood can be e:çeetecl to rnair¡tafn a gootl eompet- itíve positÍon reLatlve to otber neighborhoods in Fresno over the foreseeabl-e fÞtr¡,:re. Tbe príee range of hones in it' are those satisfying the income of the najority of Fresno fanilies, t¡ro-thirdls of wÏ¡sn have i^aeoues of less than Sr/r000r accordíng to tl¡e 19,60. .. Co sumer "AFalv-åip jFlrver of the tr're-sno Bee. The vast najority (95%)of unsold, new l-rouses in Fresno¡ as diseLosetl in the Janr¡ary 196L tr'rpsno Ar.ea 3.eal Estate a,nei Hotlsiag Rglloqb are in the price rangp \ ,of $L21000 and up. It urtgbt be expected., horever, that over tbe¡"¡)r aomíng years, a higher percentage of, the houses j¡. this stlbject

"[neighborhood wíLl be rente:r-occutrried--a pattern whíeh al..tead-y ¿,1u/exists in the area Êouth of the subjedt neighborhood. - /

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fhe sub,ject property is ].ocatecl åpprod-natel¡r 10O feet sor.lfh of the south¡rest oorßer of Ïlniversf.ty and North Saa Pablo Avenues. ($ee ExÏ¡Íbit C). fhe Lot is rectanrguS.ar ín shape, having a 40 foot frontage on North San Pablo Avenue and a depth of approxinate}y

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The topography ís leveL, w"J.th tbe possessing gooci surface and subsurface for landseapÍng. The property has the connected., incJ.udlng êLeotricÍty, gâsr s€rrrorSr firrbs, g;utters, and. sidewalks tions wfth neÍghboring olrnêrs inclÍoate probLem. The Fresno County records against the property nor any specLal

t96a-t96t t959-t960 t95e*L959

soiL beiag a sand.y loan drainage, ancl beÍng suitable necessarïr utílities already 1¡lrù ^.^*water, telephone, and pubLicl Ø*V*- have been instaLled". Converba- that there ís no fi-oodfng

I --er

indicate there are no easenents essnen with the exceptlon

of that of the Fresno lrietropoJ.itan Floo amor¡.nted. to S2,52 Ln 1960-L961).

DistrÍct (which ,{ L"-,.JÇA .- " [--t7

1e.c

The taxes on the property þarre been as foLl-ows:

raqJ,e.qp AFsgs.se$ V,a1uPtfonIr.and Improvements 8760 $900

Tax .Ratg s9.0822

B.6gg1 8.9818

TotaI faxes.

$L16.97 1L2.10 r],4.t7

This sholrs that the a.nount of totaL taxes hag been fairl¡r constant. fnformation frou the Assesso:rlg Offiee Índ"ieates that thís property has been recently reviewed., a¡d, that the assessed vaLuatíor on the û L96l.-lr962 tax roLle (currentLy ín preparation) can be expected to @- be somerhat hígher thar,r that in 1960-196L. Eeyond this, a future revaluation is not 11keJ.y for appro:iC.nateJ.¡¡ four years.

The other houses ia the Íneneiliate vicÍnity of the subjeet property are of aSrproximateLy the same t¡pe and. age as the subject property. They are attraetfve and welL maíntained.

The zoning of the øubject prrperty is R-ä, Irom: Ðersfty: ; Multiple Fanily Resideutial. TJnder the provísùoue of the zonl-ng 0rdinance for the City of Fresno, effectíve June 1I, 1960, two d"welling units couLd be constrtrcted. on tbis lot, which has about 51400 square feet. There would be g requirenent of a garage or carport for each diweS.ling unit, as well as not builcting cl_oser than 20 feet ts the rear line of the 1ot, or three feet from the north line.

of to res rep An

ere an aLternatÍ to present structure. Thfs wouLcl be under the hand.ícap of a faf.rLy snal1 lot ¡rTrích wouLcl allow 3.engthening the present stnrcture only about 35 feet or so, l"ess some space requÍred. for the aild.ítioaal carport. ünder the T,onLng Ordinance, such renod.eling wou1d" have to be aocompaníett by chang'ing of, the present structure so &s to enabLe it to neet the preseat buildiug eode. For a hor¿se buiLt in L922, the cost nay be appreeiabJ-e.

ConsequentLy, it is ny opfnfon that the highest and. best use of thls síte is that to $llieh ft is presently eorarnitted--a dingle- famiLy residenceo

eo^J\1

This slte has also been analyzed as to possibLe factors ¡rhich may affeet íts value, such, a6 eneroachments ancl traffie. There are industriaL warehouses wlthfn one-haLf bLoclr of tÏ¡fs sfte. She¡r are loeated betweea. ï[. Sar¡ Pab]"o Âveaue ancl the Santa Fe Raílroad tracks (see Exhib,Ít 0). These warehouses wore constnreted before the present zonårg of R-2 was put into effeot, ancl they êr@ ûoû- eonforsríng stmetures. Infomation obtained. from the City of, Fresno Planning and Inspections Department índicates that no ftrture Índus- tríaL construction wlIl be pernltted. l{hen the exfsting bulldfnss - ,, J(estimated. to be approxfna eJ:1 7O years old.) are razed., onLy r""i- L>zc)'te* d.ences w:ill- be permittecl. in thís atreaÇ Consequently, 1t is not f-ikely tbat the presenoe'of thfs non-eonforming fndustrial proporty will- harnfil1ly affect the vaLue of the subject property in the foreseeable f\rtur,çé,

traffic is the only other factor nhich may have an adverse effect on real estate vaLues in thís neighborhood. It has becone an important conslderation since the completion Ín 1960 of an enlargecl parkíng lot for Fres¡to Oity College, whieh has its eastern' entrance approxJ.mately 75 feet north of the subjeet propert¡r. During the school d.ayl a large number of automobiLes travel along San Pablo Avenue as a resuLt of thís parkÍng J.ot. Accorcllng to persons living Ín homes adJacent to the subJect property¡ somê students unable to find. space for their cars in the college parking lot Leave their cars in front of hones on san PabLo. This college- engendered. traffic wouLd låkel"y be particularly obJectionabLe to fa.niLies wÍth snalL childrea. Itrowever, thÍs neighborhood. fs, for the ¡nost part, occr.lpied by ancl wíll appeaL ín the ftrture prÍnarily to, r oLd.er corplies, However, an allowa¡rce for loss in vaLue of approx-l ,r¡¿,,tÀ*{ imately $loo ¿u" to thÍs traff,ic nuÍsanee has been incruded iil;- i;,;"

"-lL*\ estirnate of the econornic obsoLescence of the subJect property. ' *1"o. u,rJon

6 Å' |ve l'"*Å'

'ì

TIÍO TMPROVE}4ENT

Desi4n. The improvement is a one-story sÍngle-fariily resid-enee of tire 0alifomfe Bwtgialow architecturaL style. The majorÍty of the other homes in this neighborhood are of the same styLe.

Age. This house Ï¡as constructed. ín 1922 anð. is 79 years old.. The

.Ê,å..2g. The inprovenent occupi.es approxÍnately 1r175 square feet.

Oonstruction. There are five roo¡lls: l-iving rgomr dinfng roon, two tearoous, ar¡d a kLtchen. There is one bathroo¡ltr but no base- ment. The front of the house, r¿hlot¡ faces east, Ì¡as a faír3.y large coveredl poroh. The perimet,er of the house, aBproxlmate]y 150 feet, is of an irregurt" uit"i". (s"" nxiri¡ii c)l The general- const:rrotÍon quaLlty is fair.

The l¡ouse has been con¡struoted of franer whioh rests, for the most part, on & concrete-walL type foundation. Part of the rea¡ portÍon of the house rests on a brick found.ation. The interior wa11s and ceilings are lath and plaster, except part' of the kltchen and rear bedroon lualls where sheetrock ldas trsed d.urdng: a renodeLing subsequent to the orlgína1 constnretion. lfhe floor joists a¡e ztt x 6r rough. Support of the hor¡se Ls firrnisheel by 6n x 6u stringers wþfch rrrn the entLrre length of the hoÌrse. Ifhese strlugerS rest on 4u x 6t posts 1¡hich in turrr rest oR píers. The stud.s are 2rr x 4rt on 16rr eenters. There has been eonsÍderable settlLng of the house, as evidenced by a rnarkedly bowed flloor partleu]arJ.y ín the díning and l"ivíug rooms. Thát isr the floor in Ure niddle of these roons is notj-oeabJ.y higher than that along the walls. The waLls and eeiLings of aLL rooms a:re either palnted or wallpapered. The walLs of the living roonr clinlng roonr and front'bedrootn have been recently paintetl.

The oak harclwood floors of the llving and dinlng rooms show signs of having been da.naged (Uut not recently) by ternites. lhere is ovid.enee o f eonsÍderabLe work having been done in the past to rÍd. the house of ternltes. However, a recent ÍnspectÍon of the I entire house by a qualÍfiecl contractor resuLtecl Ín the house beingl certlfied as free of ternltes and d.ry rot.

The pine wood fLoors in the bodrooms and hal-Lway are covered wÍth faùr quaLlty waLL-to-wa1J- carpeting. The plne wood flsor of the kltchen Ís linoLeun oove:red. However, the bathroom floor Ís concrete ancl has been Paíntecl.

I þvauo ,

The kitchen has a formfca d.raín board and. plastÍc tile splash. fhere are a.mple cabj"nets. A 2z0-volt cÍrcui-t has bee¡l instalLed for an eleetrÍc range. A lan¡.nd.ry siak fs located in or*e corner, with

;i"åäå-;:i;""|;:*ii l:"'ffi.î:iîff:"';;: i:;ï'oä1"1"l:"; rl:äi,lå, gas-firecl mod,el, whíctt has been recond.itíosed.. fhe bathroorc is egs¿æLri

Exterior .l'lnisþ. The orberior ralls are llght Lap rustic sidiag. The gabLed roof 1e covered. by roLLe(l asphaLt conposÍtÍon roofing, and. has no 6¡rtters.

HeatíqÊ and copLiae: The heatíng systen csnsists of two separate flloor fbrnaces. One Ís Located in the f.ivlng roon near the entrance to the tlÍnÍng roo¡n, and has an ouþut rating of 2B,BB0 B.T.U. The second. Ís fn the hall,way ancl is rated at 24t500 B.T.U. output. There ís a brick, wood-burning, 70-ínoh fireplace in the 1ivÍng roo¡lc "an evaporative cool-er, nounted on the roof, is ducted into the haLh¿ay andt has a capacÍty af 4t000 C.l..M. Otþ.eJ r-nprovene,nts,. There Ls a detached one-car garage of fairquallty wood-fra¡re constnretion, ¡rhich has a dfrt flloor. .û" lear¡-to added to the original stnrcture eaabLes tþe garage to honse late- nodeL cars. The garage fs 1,2 feet by 22 feet, and. has not been weLl-maintaíned. There are also approxinatety J"r2T5 square feet coaerete ín the sÍd.euays, elrfreway, ard pats"o. fhe lot has beenfairly ¡rell landsoaped. with lawns, trees, and, flo¡rer beds. A sprinkler syston has been. fnstalled l"n the back yard.

con9.ltion. considering the buil.díngrs age, Lts cond.ftion is faír. Part of the interior has been recentl,y repaínted. The earpetíng antl li.noLeum a¡e ln average eond,ítion.. I{owever, the oak ff.oors ueed to be replaced, an eLeetrical outlet and Linoleun instaLl"edt in the bathroom, and ad.elitÍona]. paint{ng of both the exterior a¡¿dinterÍor perfo:med.

Àd.oqueev. The majoråt¡r of hones lu. th,is neighborhood. har¡e three bedrooms, vrhile thÍs house has only two. It night be noted., however, that for m&ny prospeetive buyers (assurnÍng they are of the sa¡ne t¡rpe as most present owners in. thís neighborhood, who are oLd.er rcouples ¡rithout young chiLd.ren), this Lack of a thirdl bedroo¡t 5e *v*e- may not be a deterrent.

Rpnainj-ne, Ecotroni..c Þl{e.. The renafnÍng eeonomle, life of this improvenent is estimated. at 25 y€arÊr. rts co¡¡strnrction and. architecture ar@ corq*only fouad. 1n CaLlfomÍa and. neet ready **"*úo*\aeceptanoe. rt conforns with the other houses of this, neighbor- hood.. rt is in a weLL-definecl âr€8¡ proteotecl from eneroach;-

nentË by (") Fresno Cíty Colteggr.r¡hÍch líes to the imnediate i north of the subJect prcpertyr (b) the ertensive resÍdentiaLI

development nhich surrounds the sÍte, and^ (c) zonfng barriem r,ltrich restrÍet future industrÍal d.evelopments. Howevern tbe erqparnsion plans of Fresao 0ity ColJ.ege are unsettl-ed at this tlne. îhe coLLege ttl¿l, tn L960, ex¡rand its parkíng lot by acquirfng geveral houses Just norbh of the subjeat property.

:_.._:

Thls property shou.Ldl enJoy satisfactory f\rture narketablllty and sr¡staLnedL value ín relat.ion to other coupetitlve nelghborhoods for approxlnately 25 years.

LÂ}TD VÁTÛT BY COMP.ARTSOIT

îhere have been three reoent saLes of, Lots in the su.bjoot uefgbborhoodll ånô fte noar vfeínityi a map shor,iLng theL¡ Locatúon has been prepared a¡¡d ls iþluded in the Addenila as Etc}rLbùt E. fheso sêlãs have beea fm¡estígated anc[ data regarelfng tT,len are

pafdt for the lots, part{euLarly the loeatiou ancl sfze of the Lott "n¿

tn* eo:ndJ.tlons óf saLe, lt is ry opf.nfon that th,e market value of the subJeet l.ot, were fl unf.¡nprovedl-r roule[ as of üaroh 6, 1961t be $2r750.

r.o

COST .AP?ROACE

DÍrect Cost of Improvoments: (See Exhibit J in Àttd.encta)

a I

Coacrete driveway, sidewaLkse and patio 475

Land.scaplng, lawn sprÍnk1"ers, nÍscell:aneous Z2O Total.Estfnated Replacenent Cost . r i. $10r395r s&I

Less:

PLus: Lancl VaLue by Conparj.son (Ugrf¡it H ín ¿tl.denda)

ESTÏI{ATEP VArrrE rNprCÂ,[Ep. BI .eosT ÁP,380êJ'H

-Ëcæ.

Acerued, Depreciation of aLL types . . . . . . (scneaure fsrlows)

aaaaa

sLo,400

-4.4p0.

$6 r oo0

/z,læ

$g¿æ.

l_t_

ÐE?RECÏAM O$ SOIÍEDÏNLE(sffia) PhysÍ cal Ðepre cia.f L_on

Cu,r.able

5 veers used uD - 13r Pafnting and. mfscellaneous repaírs IntèrÍ.or. Replace te:mite-eaten hard.rood. floors r . InstaLl. eLectrieaL outlet in bathroon . . . . ¡ . Install Línoleun Ín bathroon . o . . o . . . . . . r . Redecorating Ínterior ¡vhere needed . . . . . . . . . . Pro-rate cost of línoLeuu in kÍteheu, 10-yr nomaL life. ? years used up - T/tO x $65 . . . . . o, r . Sstimated. depreciation of replaceable items - cabinets, p!"rr.ublng fíxtures, cooler, fbrnaees, etc. .

Total PhysÍcal Deprecj.ation Curable . . t . . . . ïncurable

3ased. os the observed eoudítÍor¿ and physieal l"ife egpeetancy of the rrbone stt:ucturerr of the house, excLusive of plumbing fixtures, finish, etc.

Actua3- age, 39 years. Eff,ective econsmlc age, 2j years. Remainfng economic life, 2) yeats. ïmprovements - present cost new . . . . $101499 Sasic bone stnrcture - 3VÁ of cost or SrLOO

t75

350

w L15

600

, . . . $1r600

1.550

#7,r50

Effeotive age of lJ years of a total 50 year IÍfe erçectancy - 25/50 or 50y'" of $5,L00

TotaL Physlcal Depreci.ation Incurable îotalJ,þys.1 cal D,epre c iati-on

DryREfi $T Oiv S.C}I.EDULP (ooatinued)

Totpl .Pþysícq1 Deprecía.tioa (tron prevÍous page) ¡ o . . $r,150 firnctionaL ObsolesoenoeL-¡--.----,-

:-r= ::-:==:+: -* rñ:d. TõñE'ffiãFõFffi-Iëfê-

it ts estinate¿l tÏlat S7.50 tr¡er nonth adctitional rent eould be ex¡rected. Therefore, $7.50 tínes a gross rent mrltípi.ier of 1Oû . . . . . . . r . $250

To.tal frrnctional, 9bsplescenqe

EconopLc ObsoLesceace

fptal-_Fcononlc 0bsoLg,jscenee

Total- Acenrecl ÐeprecÍatLon of ÀLL Tvoes

500

750

500

Loss in rental d.r¡e to Lncoavesience of nearby Fresno Cíty College parking Lot, estinated at S5 per nonth. Therefore, $5 tÍnes a €:rossrent multipl"ier of 100 aaa¡

$9,48

& J'-- s J-.Å-'' L ,rr-i., *oj!l,"x, :t't-Ls €.'¿tt-*- t j¿r-> d+:'P .'"-tl ou-c- c-e+( .LJ

MARKE.T. DATA êPPRoAgffl

The recent sares of houses in thisr neíghborhood. over the pastfÍve years'rÍere investÍgated.. Each sale was studied. as to the char-acterÍsties of the property Ítself, tÌ¡e condLtions and terms of the ='pa:rable to- ec

ås ,was conpared. to the subject property as to d.ate of sale, location, sÍze and shape of the Iot, age and condition, qual.ity oi const¡rrciion,etc. DoLlar adJustments ttere estimated and applied against the salesprice to derivo a flgure consid.ered. Índicatine of the value of the subject property. ¡

fhe saLes faltr- within a range of $8,2o0 to $91100, with sales 1,2, amd 7 (the most recent sales)-oit¡.i" ih" "og" of $g,A|¡O to $8,550.sale 2 ís that nost conparable to the subject property as to size and nunber of rooms, particularly.

4ultiple.of Gross MonthLy Renta1. The subJect property is eurrently boing rented for gg5 per month.

I'lthough conclusive evidence is not avaÍlabLe, there is an iädicatfonthat a ratio of I to 100 (or a g?osq rent nuliiplier or ioo) is currentl.y aceepted in the real estate market (see Exhibi.t I{). ConseqúentJ.y, thisdata il¡d.icates a value of $85 tÍnes J-00, or $91500, a figure whleh is i¡l keepÍng ¡rith the lndicated. vaLue figures nentloned above. C.oncLusf.on. After anal.yzj.ng and. considering alL of the evidence foundin the market, it is ny opinÍon that:

TI{E ES AT, IIE C¡,îNE EY MA]LKET DATA À ROACH. is. . $8r500.00

AIIÂI,YSIS AI.XD CORRELATION OF VATTUA ESTTPH.I.ES

Tn the detenninatíon of the narket val.ue of the su.bjeet property through the ¡¡arket d.ata qr,¡d cost approa,chesr considera- tion has been paid to the economie and. sociaL forces exi.sting in

Aoceptance of thç fndÍcateel narket vaLue amived at through

than Ít would cost to builtL a eomparabLe propertf.

The na:rket value figure reached through the rcarket d.ata approaoh is a reflectfon of ¡rhat buyers actually paid for propertLes considered eonparable to the subJeet property. In thfs appraísaI, ít was possibJ.e to Ínvestlgate a nr¡mber of sales. ConseguentJ.y, it my opinlon that the market ttata indícation of value ís nore relíabLe than that of the cost approach, aLthough the two are not veqr far apart.

ït was not possibLe to checlc these two approackrs by a thÍrd.--the \,^ß, income approach. .å"lthough there were found to be two rentals of ...Nd- recentl.y soi.ct propertÍes, the najority of houses (and sales) in thisW- neighborhood are not income-relateð. Occupation by the ownors ís the neigbborhoocl patterrr.

coN.crJtxffiox{ 0I' v.a¡uE

It is my oBinlon that the narket value of the subject propert¡r, as of March 6, 196L, ûas:

ETGTTF THOUS.AI{ìÐ FTVg }ÍT'N'DREE }OLIARS ($er 5oo.oo)

l,,IlmpING coNDIT:ï ONS

this appraÍsal is subject to tho followÍng línitíng condítíons:

The legal d.escriptior¡ f\rrnished. is assumed. to be correct.

brances s been appraised as though fbee and cLear. -çL*r clst é*pf ."<r.,., , s

c;*t4 v*¿-J-' .g*- +¿*- €"lS---.

and the property has

I assume that the titLe is narketable.

The vaLue of the land. and. lnprovenents is reported as a unit. They are consíd.ered to be component parts of the totaL vaLue. No specÍfie value in thÍs report fs to be used. in making a summation appraisal by combination of land or improvement value created by another apprai-ser; either 1s invalid.ated. Íf so used..

The sketches and maps fn this reporü are includ.ed to assist the reader in visualizirrrg the property. I have mad.e no survey of the property and assume no responsÍbility in such matters.

Possession of this report, or a copy thereof, does not carry rrrith it the right of publfcatíon, nor üÞy ft be used for any purpose by any but the appllcant and in any event onl"y with proper qualification.

I am not required. to glve testimony or attend.ance in court by reasolt of thís appraisal, with reference to the property 1n questiont unless arrangements have been prevLously nade.

The d"elivery and acoeptance of this report conpletes this assign- ment.

1""6 n-. ol

CERTIT'TCATTON

I hereby certÍfy:

that to the best of ny'knowLedge ar¿dt beLåetr the statements anel opÍnLons in tÏ¡is report ax6 correet and thet. no pertLnent. faets have been wlthheLd or ove:rLooked,

that I have no r¡ndisclosed interest Ín the propertyt present or contenplateclt

that ry enployneirt ar¡d compen$ation are not contingent llBon the vaLuation fountl,

that thfs appraieal has been nade in corafo::nity with the nrLes and professíonaL ethfes of the .A¡nerícan Instltute of ReaL Estate Appraiserst

that ny estinate of the rnar.ket vaLue of the subject pmporty as of March 61 196L, is:

ETGTTT THOUS.ASD ffiVE }ÍUTÍÐRED DOTI.ATS ($ar 5oo.oo)

liark lfassie

17,

alraI,IFrgArI0Ns 0s, rFo .apPqsIsE:R Mark lÏassfe

Bducatect ín Kar¡rsas Cfty, MÍ"esouri sc?¡ooLg through hígh soÏ,tooJ.. Graduatecl from the Unir¡rersity of T].línsfs ¡r¡ltb Bache}or of Scfeuce

=:==:-----=

Economiet and narket ana3yst for four years, on the staf,f of Stanford. Research Institute, tr{en3.o Parkr taLl'fornLa.

Fresent position is Âssistant Appralser (agri.cul.turaL propertles), IÏiles, Andrews & Cullington¡ Inc. of Fresnor 0alifornåa.

,ù

ADDENDA

.--,

i: Eftl. Sl Ë i,

FREIIXO COUIT'fï

9borln3 lrcsno Ctty Â¡¡r

Coelln¿n

a toadot¡ 3¡¡ J

-:':.: : t' ,:'.

BLO, NEIGHBORHOOD MAP ¡:,

.Èl'ìi i L'_--

côe Lô-r 49 P. ¿, uÉ. ¿òe. Liit'1t e.èt- 6o'

PC. l"= too'

Note: red. indicates boundaries of subje ct,'tr neigirborhood.

3W caz LOT 5O EC.

Av€ i

dJJL A*-.

P. lol +t

.-2, Pg.14 Ps. 22

s-._-_*€--

\ $

toI

I 4 I

b rq

I 9

\-- -

--j.*--- - l4 t7

25 I

6 ,4

E C)Ja ñ ¿ <t çr,

¿ 6o'

.. :-.

1645 SÁ'V PABLO, NE'G FIBORHOOD MAP gHorINo col,r.p¡R¡nl.n gAtEg

I'lÉ. <.ôa LOl 1r 2.L

Exhtbtt n

AYE .!

- SubJect propert¡r

r tand Salcs r. Propert¡r Salea

llv aO? Lor 4t Pc

6o PC, l" ,o,

l. t- t,

h¡I

49 to

E <(

tÇ'

ee t¡J J('

oJo tr ¿q 1r,

ã 6o'

t <t T J tr¡ a ä ôo'

¡¡ c.oQ LOr srv coc LoT 50 pc $ E. itl0 KINLEY

f--

Norlh Pork Tcrrocc - R.S. - p, pg. t4 Poppy Colony - R. S. - Z , pg. 22

*Tr- lt

tg $

,4 q) t7

t3 t8Ii t9

6¡ lt

,o 2,

I 22

4 ,

ì sI

I T---

{ I

I 23

265 t5

I ì

3 I 28

2 I29

i e t9

8¿o 30$ 9a.

0 \0

.15 61

34 I

EðTIBIT H

L.AND S.AT,ES

Sale A:

Sale 3:

SaLe C:

Date of SaLe Consideratfoa. Location

Size Physical. Characteristi cs Conditions of Sale

Iegal ÐescriptÍon

Size

Physícal" Charaeteristf cs 0onditions of Sale Legal DescrÍption

IToFtÏt EdI l{at Avenuet fOO feêt=-tiorth- of tlel(inley .A.venue. Equal-Ly desÍrab1e as subJeet Lot.

50 f.f. x 1J5 feet. Larger thaa subjeet lot.

Similar. Zoned R-2. lSorma1 Lot 16 and l{orth 20 feet of l,ot L?r

Sorth ?ark Terrace

r.960 $1r750 cash nn. GLenn Avenue, 140 feet north

of llcKinley Avenue. Less desirabLe, since it is on short dead. end. street¡ and, lt faces (to tfre northeast) aa i¡ndustrfaL warehouse.

40 f.f. x L75 feet. SimiLar. Zoned R-2. Sel1er r,¡as not inforned as to cument

vaLues of sinilar lots. Lot 4 of Lot 50, Poppy Colony

1960 $2r650 cash East side of I{. San Pablo Avenue aLmost

dlrectly aeross the street fron the subjeet property.

40 f.f. x I35 feot. A worthl.ess structure oa the lot requlred

$L00 de¡nolition cost, pald by buyer. Zonecl R-2

I{ornaL Lot 20 of Lot 49, Poppy Colony

Date of SaLe ConsideratLon Locatlon

Size PhysicaL Characteristlcs

Conditions of SaLe Ï,egal DescrÍ.ption

EreIrEr.r E

I,AI{D VÁIliE BY CO}IP"AÌ.TSON

ATI.ATYSTS OF COMP.AR"[3T,8 SAI,ES DAIA(Adiu val.ue)

[Íne

Locatfon

SÍze

Shape

Zonf.ng

Conditíons of Sale

Te:ms

0ther

Sales PrLce

Net Acljustnent

ïndicatetl 'tIal-ue of Subject Lot

1960

SimÍLar

Larger ."$500

SimíLar

Similar

NornaL

Cash

fi1r25A

-$q00

8217rO

r.960

Poorer /t|og Sinl].ar --' Sim:iLar -- SinfLar -- SelLer /e659 Uafafo¡med,

Terms

$1'750

^lçgsa

s2'7oo

1960

SiulLar - SimfLar - Sinilar - SiniLar - I{ornal

llems

Denolitlon ûost /groo

&2r650

/t¡oo

82r'tr50

Ethibtt I

DEFÏNITTON OF REPLASSMENî COST

Replacenent csst ís the cument cost of replacing the struoture rríth a simÍLar and. colryarabLe one of equivalent utility--one that rouLd 'foffer conparable shelter and. anenítles

ExPI,,ilqATfplT or I\mîH0D 0I',-$ST:ïMA, ISG E$PILACEMaNT. COST .An integratecl .eost system of, estimating rep}acement co.st was used..

The factors ia this systenn derfved. by ananysis of historical coets of constnreting buLJ.dfngs of sinila¡ sJ.ze, shape, qual_ítyr and tJæe, pro- vice a repJ-acenent cost estinate that fs reasonably accurate and. whichrefleets current condlltíons Ín the Fresno area.

I *o"tJ t^^^'u- *'.''-L'å*J +"1". sct-C|1¡É€_ a_å c4

' gu,J.

EryITETß J

I{ETTTOD OF COST ESTTMATTO}Ï (Rep ew)

AfgAr.. a a - *orclr- üf_ta-t-?-a'

fieating r¡nits (2) Fireplac,e EvaporatLve aool"er and duc.t ?Z0-volt cireuit

Nìote:

(r ( ( (

¿-pLace eost Itllll llnll ililn

) ) ) )

225 754 1"80

.50 891675r say $91650

-s480 $9' 170

0oncrete S.anding (rear:aoo") ( n il ' ) Total RepJ-acement Cost of tlvir'g .å.rea

T,ess: Acljustneat f,or Ïbesno Coastructiou Costs Gf%)

Therefore $9rL?0 divtd,ett by Lr175 sq. ft. equals ff1.75 per square foot.

Above cost factsrs Ínelncle aSlowa¡ree for ind.ireet costs sueh as a¡chitectts fee a¡cl fínancÍng charges'. ] r, á.-, I-ærr,--'J u*..ó t-o4 .

Exhiqr,t 4

ACC&UED. DUPAECIAÎIoN

As part of the eost approach to valuatíon of thfs propert¡rt the amornt of clepreciatÍon due to alL eauses was estinated. "A.tt opinion as to the degree of physfcaL depreciatÍon was obtained

hole {sr¡ah as the roof separately. The outside of ttf¡r hoase ls fn neecl of-pafnt, whtle the roof is approaehing the point nrÌ¿ere it shouJ.d be repJ.aced.

The oak floorÍng, althougþ it stllL presents a faírl.y sound appearance, has been bad.1y danaged by ternites a¡d shouLd. be replaeed.

The bone structure of the hor¡se (or the part that holtLs the house together, such as studs, joísts, and roof nenbers)r even though Ín a d.eterÍorated. csnditionr cannot be replaced. as íts repS-aoement cost ¡¡ouLd be unreasonabLy high. ûousequentl.yr an estímate wag made of the remaining econonic lífe of this buíldlng and, using this, there was derived. an estinate of the $ anount of the ace:rred d.epreciation to the bone stn¡cture

The d.egree of obsolescence (¡otir flrnctionaL anct econonic) ?ras approacl¡ed. by estinating the probabLe Loss i¡r rent earnÍng ""pr"íty of the house. In {his, loss in

rent d.ue to (f) the laclc of a Jd beclroom ia a neighborhootL of houses whieh generalLy have three bed.rooms, lnadequate cLoset spaee, and sonewlrat obsoLete heating systen, an¿ (e) the nuisanee of the nearby Fresno Cify College parking lotr wpre considered. As a measure of the reLation- ship between tbe rental Loss and the narket ualue of the house, the gross multipJ-1er of monthJ.y rent derived in Erhfbit M was used..

.ot{.ar,Yqls oF coMPsR.ArüE SAI,ES. DAT.A, aD, JUS,TED' rOR VARIoJ'S. Í'.[CT0,R..S, .[T'TS0JTHG V"AI'UE

Erfi{rffir r,

SubJeet P.roPert¡r Sale No. L SaLe No* 2

- Dàtã-of SãIe- Location

Sj.ze and Shape of Lot

á,ge and. Coa{ll*Loa

Quality of 0snstr.

Size

# rooms & baths Bedrooms

Garage

ConditÍons of sale

1[erms

Other

Sa1es Price

lÍet .ådjustnent Ind.icatecl VaLue of

Subject Property

6ood

ReotanguLar 40 f.f. x l75t

79 yra tr'air

FaLr

11175 sq. ft.

5-t 2

L-Gax: d.etacLr.

I9:60

SíniIar

Sínil"ar

SÍni1ar

Slni.lar

3.1400 sq. ft -1'000 6-r. 500 3

Z-ear detach -35O SeLLer anx- y'tro}O ious

T95.9

Sinilar

Si¡ril-ar

Seü.ùer naintained

Bettor

11250 sq ft

F-L 2

SÍml1ar

Nomal

-?50

-200

-750

I{eak

Exeessíve shacle from tree

-25CI Ossb

/zra

$9,400

-850

t8' 550

$9, 250

-800,

$8,500

E)GIIFI$ L (continued)

.AT{¡TYSTS O¡' COMPAR.O,STJE SåTES DÂTA ÂqilUSrED I'0n ITARI0IJS. I'4.CToRS AqEgCTII'lrG VÁLiIE

=-==::.'::----Vg¡ue pact-ors ,I.tel{------^ediu+l&ent -Iteß Àdju.st&.eÊt. It ,{diustnenìt

Date of Sale 1958 /zro 1956 /+oa L9i6 /q.ro Location corner lot /foo Warehouse /zfa Warehouse lzEo

on traffÍc- is rear in rear rfay

Size and Shape of Lot

Age and. Conclítíon

Quality of Constr Size

f rooms & baths Eed.rooms

Garage

Cond"itions of SaLe

Terms

Other

Sales Price

Net Adjustment

Indicated Value of StibJect Property

Similar

Nener -4O0 Sir¿ilar

ar450 sq ft -1'100 7-Jå -t,ooo 4

SimÍLar

Nornal

Símilar

Sinilar

SiníLar

900 sq. ft. firn1 6-L -500 3

2-car cletach -35O

Norna1

SimÍIar

Sinilar

Slmilar

L,jOO sq ft

6-1 3

SimÍ1ar

Se1ler anxious

Very weak

Personal property

lfeak,-,,. -150 tash

$10 ' 759

-2.2OA

$8' 450

$'1,1oo

/:"¿99"

s8,2oo

-450

-500

lt>o

-1 r 500

-100

$10,200

-¿"tgg.

s9, loo

Itrciribft L,-lõ"'tf

Date of Sale

Price Paid

Terms

I,ocation

legaL ÐeseriPtíon

Remarks

SaJ.e tr{lo. L

1960

$9,4oo

$3O0 cash. Balance on contraet of salet øareY*ngr l$y'o j:ut'etes*,

l-612 NI. San Pablo ÄYenu'e

Pareel #44+-3LL-12, l"a| 27 of Lot'49r ?oppy 0oLony

A one-storyr single-family frame residence sf six roons - J þedrooms¡ one bath. 11400 sq. ft. EstÍnated coustnrction date: earL¡r L920rs. Effecti.ve age about 2J years, DoubLe garage. QuaLÍW of constmctíon is fair. Loeatíon is equal to suhject property. lhe seller tcas anxious to d.is¡rose of the ho¡¡se.

Exhib,lt ï,--(con'tI

I i '1 ,+

l.l

f 't

t;'

,æ.rx* I

"M[,,

-'t r'i.

ä,' 4Er 'i ,'2t';,.,ûff.-

'ÆÆ'..;ÆE--

Date of Sale

Pric,e Paid.

ferms

T¡ocatlon

LegaL DescrÍBtion

Remarks

Sal"e Nio. 2

1959

#9,250

$9r25O casb

i-603 l{]. San Pablo' .Ar¡.enue

Paree1 #44ç3A6-17, Lot 2 of tot 49¡. Poppy Colony

^â" one-storyn síngle-fami.ly fraue resfdenceof fíve rooss - 2 bedroonÊsr one bath. 1,210 sq. ft. EstÍnated constnrction äate: early 1920 f s. The qual-fty of eonstmction is absve average and the bouse has been faÍrly 'weII maiataLned. A one-car detachecl garage.. LocatÍsn. is equal to suü'jecli property. SaLe considered, normal,

Exhibft L -(ffi'-tT

.,. .- _1r.: -, i

Date of Sale Príoe Paíc[

Terms

Locatíon

Legal. DescríptÍon

Renarks

SaLe So.. 7

195e

$10,750

G1r3o0 eash. S9,1oo lst. d/t. 8150 2d a/t,

L60I $. San Pablo

?arcetr. #44+-506-14. Lot L of Lot 49, Poppy Oolony

Á. single-fanil¡r res.Ídenee with 11500 sq. ft. on the first floor and 550 sq.. f,t. on a second f,l,oor. Ilrame and stuceo. IIas seven'rooms - 4 beclroons, $ tattrs. Estinåted constructlon date: Late 1920rs. llbe qual.fff of constnrotion is fair. Has double garage and eartrrort. SaLe consid.eled nsruaL. LoeatLor¡ is ínfenlor ¡o s¿þject property siaee tr35 feet of the property fronts on the br¡sy traffiewayr tr{cKlnLey Avenue,

Exhibít t--(ñ'*itl

Date of Sale Price Paítl

Terms

Ïrocatf on

Legal" Descriptiou

Remarks

Sale Nio, 4

r956

$7,100

$7r100 cash

1628 N. San Pablo

Pareel #44Þ7].'].-09, Poppy Oolony

Lot 24 of tot 49r

A one-stoWr singLe-farnfly frane residenceof six rooms - 3 bed"rooms and'o¡le bath. 900 sq. ft. Estinated. constnrction date: early 1920ts. Qualfty of coustrr¡ctioa isfair. Loeation consÍd.erod ÍnferÍor becauseof industrÍal warehouse in rear. T¡ro-oar detached garage. SaLe considerecl normal.

Enhibit I -l!-ürr)'

Date of SaIe Price Paitl

îerms

Location

Legal ÐescriptÍon

Remarks

$20O eash, 86,1000 Lst a/t at ffi. S4r000 Zd. d,/t at T*y'o.

1622 N. San PabLo

Sale No. 5

1.956

$10r20O, futcluding $100 of personal. ' propert¡r.

Pa¡ce1 #44+-3LL-LO. Poppy Colony

Lot 25 of l,ot 49r

A one-stor¡r, siagle-fanily frane residence of, sÍx roo¡Bs - 5 bedrooms and 1 bath. 1rJ00 sq. ft. Estimated. constnrction date¡ early 1920rs. eriality of the construction is fair. The location isinferior to that of the subject propert¡i. sfnce there is an índustrial warehousefn the rear. A or,re-car detaehed. garage. fhe seller w&s anxious to se1l, hãving ¡ustsuffered a death in hÍs fanily.

--.! )

Looatíon* L615 IS.

Saa Pablo

L6L9 N. San ?abl.o

MonthLvT s-75

MonthlwSples Pr.iee

ü7,500

âNÁ&YSIS Q-q GROSS N$VT YJTTI,TTPLTSRS

Rent Rent trtuLtfpli.er- Prlce Ðivfd.ed by

Erchlbit M

Rent, ne¡.tab,ltiüy qf nata

Çoofl

IFtp

r"960 100

J,5'$1.0, oo0 196CI Rent Ì¿ae not been, ralsed. in L2 years Poor reLÍaÞÍlfty.,

(-ævt6p*tç (L.<'s¿b 'sL¡'út¿ l'-f¡¡'-Q- î-Jl-

"u+,;1."Å0n1.y the tlrst rytrltiplier caÌ* be 'asswrerl to be fairly ré].Lable. a gross rent nuLtipller of L00 has þeen used.

fherefore t'la¿I¿r* àønn*.¿^ J t*ol*"(tlio'n"I!."

i ft :

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