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M <br />As requested by J. B. Webb, City Engineer, I have <br />personally examined and carefully considered for valuation <br />Lots 22 and 23, Block 431 and Lots 14 to 30 inclusive, Block <br />530, all of which are located in Lancaster!, Addition to <br />Newport Beach. <br />The map furnished me includes the re- location of 32nd <br />Street giving the lots in Block 530 a depth of 1031 facing on <br />a 641 street with 501 of roadway. Also, shows increased alley <br />width of 161 making 301 in all. <br />The basis upon which I am predicating the value placed <br />on the lots is the knowledge of the changes as outlined and <br />the paving of 32nd Street and the alley including sidewalk and <br />curb on 32nd Street. <br />Any structures now existing on the subject property have <br />not been considered for valuation. <br />In my opinion, this property has excellent possibilities <br />of being developed into a high class shopping section for the <br />reason that there is enough land to interest an investor to <br />build for income, and it is properly zoned. <br />This appraisal is rendered with no specific purchaser or <br />seller in mind. <br />The highest price, in terms of money, which the property <br />will bring if exposed for sale in the open market, with a <br />reasonable time being allowed to find a purchaser, buying with <br />full knowledge of all of the uses and purposes to which it is <br />adapted and for which it is capable of being used, constitutes, <br />in my opinion, its fair market value. <br />The value placed on the property has no bearing or <br />influence in the amount of my fee, nor am I interested now or <br />intend to become interested in the above property. <br />This appraisal assumes good title, any liens, encumbrances <br />or taxes which may now exist have been disregarded and the <br />property is valued as though free and clear of all indebtedness. <br />I hereby certify that to my best belief and knowledge, <br />the following representations of the expressions of opinion <br />are correct and that in my opinion the market value is <br />$58,700.00. <br />October 25, 1948 <br />..2. <br />