HomeMy WebLinkAboutC-1881 - Appraisal of R-3 portion of P.E. Right of Way in Newport BeachTO �, FINANCE DIRECTOR
0
CITY OF NEWPORT BEACH
CALIFORNIA
City Hall
3300 W. Newport Blvd.
Area Code 714
673 -2110
DATE Eowaber 11, 1976
b• City Clerk
Fr: Contract No. iaal
Description of Contract A=aisal of R -3 portim of P.R. r-a-v in MPt. S"ch
)razed by Resolution No. pia adopted on Sinned by City MElc.
Fy fective date of Contract
' J ''�*ny'ract With 4lchwrd A. Bnllar. M.A.I.
;
Address 610 Sampan comer Dr. - Saite 655
? u Beach, (,A 92660
Amount'of Contract u.. [m.tract
City Clerk
RICHARD A. FULLER, M. A. 1.
APPRAISER AND COM"LTANT
MEMBER SUITE 4�+4,Y��
AMERICAN INSTITUTE OF 610 NEWPOWT c£MTAR DRIVE
REAL ESTATE APp'RAISERS NEWPORT BEACH L ORNIA 82860
._ -
November 8, 1976
Mr. Robert L. Wynn
City Manager'
City of Newport Beach
3300 Newport Boulevard
Newport Beach, California 92663
Dear Mr. Wynn:
AREA CODE 714
TELEPHONE 644 -4040
o�,o�. 1g�6A►
RE: Proposed Appraisal of
R -3 Portion of the
Pacific Electric Right of Way,
Located in Newport Beach, Ca.
At your request, I am submitting this proposal for the appraisal of the
above, referenced property. The purpose of this assignment is to estimate
the fair market value of said property, as of March 10, 1976.
At your instruction, the appraisal report will be comprehensive in form.
All market data, factual data, reasoning, computations, descriptions,
analyses, photographs, and discussions, from which, in part, the valuation
conclusion.was derived, will be set out within the report.
The fee for this assignment will range from $2, 250.00 to $2, 750. 00,
but will, in no event, exceed $2, 750.00. The fee estimate will include two
copies of the appraisal report. I would anticipate 30 to 60 days from the
date of authorization, for the completion of these appraisal services.
The preparation of the appraisal report would be based upon the following
assumptions:
1) That the highest and best use of the subject site, would be R -3
Multifamily Residential.
2) That a legal description, and a current title report, will be
available for review. If said title report is not available, the
property will be appraised as if unencumbered by easements, or
other conditions of title.
Mr. Robert L. Wy •
November 8, 1976
Page Two
3) That maps will be provided, which delineate the exact boundaries
and size estimates of those pq.icels to be appraised.
t
4) That the. interest to be appraised?s fee simple estate,
5) That the valuation estimate, will be exclusive of subsurface rights,
if any.
6) That all engineering computations will be the responsibility of
others.
7) That the submission of this report constitutes completion of the
services authorized. It is assumed that customary compensation
will be provided for any subsequent depositions, conferences,
additional preparation, or testimony.
If these terms are acceptable, you may authorize me to proceed, by
signing and returning the enclosed copy of this letter. I look forward to
being of service to the City of Newport Beach on this appraisal assignment.
9,y truly yours,
Richard A. Fuller, M.A.I.
RAF: 1j
CITY OF NEWPORT BEACH
APPROVED:
DATE: I
RICHARD A. FULLER, M.A.I.