PROPERTY EVALUATION (RESTRICTED REPORT)
Comments:
The subject is currently not in escrow nor listed for sale that we are aware of. However, the portion of parcel 637-020-004 analyzed within this report will be sold within the near future.
PURPOSE OF THE REPORT
The purpose of this report is to set forth our opinion of the market value of the land and improvements of the subject property under the following premises:
▪ The estimated "as is” fee simple market value.
CLIENT & INTENDED USERS
The name of the client is Coachella Valley Water District. The intended user of this report is Coachella Valley Water District.
SCOPE OF THE APPRAISAL
As a part of this valuation we have made a number of independent investigations and analyses. We identified the property with the assistance of our client, the property owner, and by referencing public documents available. We conducted a physical visitation of the property, including a walk-through of the building. Several sources of data were researched for this appraisal, including but not limited to RealQuest, Costar, Loopnet, MLS, and market participant surveys. An Environmental Site Assessment Report was not provided. One approach to value has been used: the Sales Comparison (Market) Approach. We did not use the Cost Approach or the Income Approach as the subject consists only of vacant land. The investigations and analyses undertaken include the following: 1. Review of area demographic and economic information. 2. A review and analysis of the residential land market activity for the subject's market area. 3. Exterior inspection of the subject property, including a review of the legal description, parcel map, ownership history and visual inspection of the surrounding neighborhood. 4. Accumulation of comparable rental rates and comparable sales. 5. Discussions with city planners, buyers, developers and other knowledgeable persons in the area. All conclusions reached are presented in an Appraisal Report.
Effective Date of Value/Interest Appraised:
The effective date of value is May 3, 2019 “As-Is.” Future valuation has not been expressed in this report. The property was visited on May 3, 2019 by Greg Moon.
Statement of Work Product & Dates of Report Preparation
The data used in this report was collected, verified and analyzed by Greg Moon and Stephen K. Bethel. Chelsea Casseday provided assistance in the collection and
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