HomeMy WebLinkAbout2000-06-21 Agenda Packet - Board (7) I it ii it II R
a - s �
Staff Report
To: Board of Directors
From: Peter L. Holzmeister
Date: June 16, 2000
Sale of land to Jeff Baird
You will recall that Jeff Baird attended a recent Board meeting and asked that the District sell him a
strip of land adjacent to his development,Alpen Hostel, on the south side of Highway 267. The Board
expressed a willingness to sell the strip of land to Mr. Baird and asked me to have it appraised and
return to the board when that was done. Attached is a copy of an appraisal performed by Mark
Kincheloe. It values the strip of land at$19,500. The cost to have the appraisal done is$1,000.
The transfer of the strip of land would require a lot line adjustment, detaching it from our land and
attaching it to Mr. Baird's. A lot line adjustment is a relatively simple matter processed through the
Town of Truckee. It requires a metes and bounds description of the land to be transferred and a
metes and bounds description of the two resulting parcels. It requires an application filing with the
Town's Community Development Department and payment of fees.
If the Board is still willing to sell the land to Mr. Baird we can proceed on one of two ways.
1. The District can take the lead in having the paperwork prepared and submitted to the Town. The
cost of that work could be included in the price of the land. The District may prefer to be in control
of the process, since it affects our Southside property.
2. We could ask Mr. Baird to pay us $20,500 at this time and require him to perform all the work
needed to make application to the Town.That simples matters for District staff.
Recommendation
I think I would prefer to have the District remain in control of the process. However, before we
proceed with incurring the costs I would ask Mr. Baird to deposit approximately $25,000 with us to
make sure he intends to consummate the deal.
0 Page 1
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o�g 0lo Assessor's Map Sk. 19 -P9.45
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Southside spring, well.
and booster
19-450-41 ,
,195 ACRE PORTION OF
APN 19-450-41
T UCKEE CA. 96161
DATE QF APPRAISAL
May 21, 2000
DATE OF REPORT
May 26, 2000
PREPARED FOR
Peter L. Holzmeister
T.D.P.U.D.
P.O. Box 309
Truckee Ca. 96160
PREPARED—BY
Mark Kincheloe
P.O. Box 3640
Truckee,CA 96160
LPI TE
APPRAISAI.
IS"TA STATE CERTIFIED GENERAL AND RESIDENTIAL APPRAISERS
A0004032 AR024570
4
May 26, 1999
Peter L. Holzmeister
General Manager
Truckee Donner Public Utility District
P.O. Box 309
Truckee Ca. 96160
Re: A Portion of APN 19-450-41
Dear Mr. Holzmeister:
In accordance with your request,I have provided an update to the complete
appraisal/summary report of the above referenced property, with the effective date of
value being May 17, 1999. This update has an effective date of May 21, 2000. The
purpose of the appraisal is to provide a market value estimate for a .195 acre portion of
the subject property possible sate transaction.
This update report has been completed in accordance with the Uniform Standards
of Professional Appraisal Practice (USPAP) as provided by the Appraisal Foundation.
Respectfully submitted,
Mark`Kincheloe
AGO04032
P.O. BOX 3640 ® TRUCKEE, CA 96160 ® (916) 587-5480 o FAX (916)582-5409
TABLE OF CONTENTS
Summary of Important Facts and Conclusions......... .......'.... . ............ ... 3
Assumptions and Limiting Conditions..................... ........ ............. ..... 4
Certification..... ... ............. ......... ............ 6
Purpose of the Appraisal ......... .. . ......... ......... 8
Function of the Appraisal....... ............... ... ........ .` ......... 8
Scope of the Appraisal C ............. 8
Property Rights Appraised .,... ........: ... ... ....... . . ......., ...,..... 9
Definition of-Value..... ....... ........ ................,.. . ... 9
Neighborhood Description 10
.Description of the Site
11
Highest and Best Use ..,. . ....: ...... �"13
k
The Appraisal Process 14
Valuation Analysis of the Subject Property 15
.. Sales Comparison Approach :.. ... .. .......: ... .,. . . 16
Addenda
2
SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
? LOCATION: The subject property is located within the
city limits of Truckee,in the County of
Nevada,in the State of California.
{ NEVADA COUNTY
ASSESSORS PARCEL NO A`portion of APN 19-450 41
OWNER OF RECORD: Truckee Donner Public Utility District.
LAND AREA: 195 acres
ZONING:' Proposed RM-10 (10 units to the acre)
# DATE OF LAST PROPERTY
INSPECTION: ;May,21, 2000 ,
:DATE OF=VALUATION: ., kay,21,2000
DATE OF PPRAZSAL REPORT May 26;2100
VALUE OF THE SUB JECT, $I95001
SALES,IIISTORY:' There have been no transfers"of
the subject parcel in the past three ;
years.-
FLOOD HAZARD: The subject is'located in Flood Zone C,
' not in a special flood hazard area,
according to FEMA Flood Map Number ,
060210 0508 B, dated January 19,1983
` MARKETING TIME: One year.
CENSUS TRACT: '12.01
3
A
ASSUMPTIONS AND LIMITING CONDITIONS
Special Assumptions: ,
1.The current zoning for the subject property is R-L R-I is a single family
zoning designation. The zoning in the Town of Truckee's proposed general plan is
RM-10 a multi family designation. The special assumption made by the appraiser is
that the typical market investor would assume the property will be allowed to be
subdivided to the multi family density.
2. The subject property is currently a 45.86 acre parcel. The client has 4
requested that a 35 foot wide, 242.63 long strip of land adjacent to A.P.N. 19-450-30 be
appraised. Therefore the subject referred to in this report is the.'195 acre strip;of land.
CONTINGENT AND LIMITING CONDITIONS. The appraiser's certification
that appears in the.appraisal report is�subject to the following conditions:
1. .The appraise%will not be responsible,for matters'of a legal nature that affect .
either the property being appraised or the title to-it. The appraiser assumes that the title is
""good and-marketable and,,therefore;will not rendef'any opinions�aboufthe title. The
propertyis appraised on the basis of it being under responsible ownership
2 'The appraiser has examined the`available flood maps that are;provided by the
Federal Emergeney;Management Agency(or other data sources),and has noted in the
appraisal report whether the subject site is-located in:an identifredSpecial Flood Hazard
Area. Because the appraiser is not a surveyor;he,makes no,guarantee,express or implied,
,regarding this determination:
3. The appraiser will not,give testimony or appear in court because he made an . .
appraisal of the property in question, unless,specific arrangements to do so have been
made beforehand.
4. The appraiser has noted in the appraisal report any adverse conditions (such as;`
need repairs,depreciation, the presence of hazardous wastes,toxic substances, etc.)
observed during the inspection of the subject property or that he became aware of during
the normal research involved in performing the appraisal. Unless otherwise stated in the
appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions
of the property or adverse environmental conditions(including the presence of hazardous
wastes, toxic substances,etc.)that would make the property more or less valuable, and
has assumed that there no such conditions and makes no guarantees or warranties,
express or implied, regarding the condition of the property. The appraiser will not be
responsible for any such conditions that do exist or for any engineering or testing that
might be required to discover whether such conditions exist. Because the appraiser is not
an expert in the field of environmental hazards, the appraisal report must not be
considered as an environmental assessment of the property.
5. The appraiser obtained the information, estimates, and opinions that were
expressed in the appraisal report from sources that he considers to be reliable and believes
4
them to be true and correct. The appraiser does not assume responsibility for the
accuracy of such items that were fumished by other parties.
6. The appraiser will not disclose the contents of the appraisal report except as
provided for in the Uniform Standards of Professional Appraisal Practice (USPAP).
7. The appraiser must provide his prior written consent before the lender/client
specified in the appraisal report can distribute the appraisal report (including conclusions
about the property value, the appraiser's identity,and references to any professional
appraisal organizations or the firm with which the appraiser is associated) to anyone other
than the borrower; the mortgagee or its successors and assignees; the mortgage insurer;
consultants;'professional appraisal organizations; any state or federally approved financial
institution; or any department, agency,'or instrumentality of the United States or any state
or the District of Columbia; except that the lender/client may distribute the property
description section of the report only to data collection or reporting service(s)without
having to Iobtain the appraiser's prior written consent. The appraiser's written consent and
approval must also be obtained before the:appraisal can be conveyed by anyone to the
public through advertising;"public relations, news, sales, or other media.
5
APPRAISER'S CERTIFICATION
The Appraiser`certifies and agrees that:
1. I have researched the subject market area and have selected a minimum of
three recent sales of properties most similar and proximate to the subject property for
consideration in the Sales Comparison analysis. I have made a dollar adjustment when
appropriate to reflect the market reaction to those items of significant variation. If a-
significant item in a comparable property is superior to, or more favorable than, the
subject property,I have made a negative adjustment to reduce the adjusted sales price of
the comparable. If a significant item in a comparable property is inferior to, or less
favorable than the subject property, I have made a positive adjustment to increase the
adjusted sales price of the comparable.
2. I have taken into consideration the factors that have an impact on value in my
development of the estimate of market value in the appraisal report. I have not knowingly;
withheld any significant information from the appraisal report; and I believe, to the best
of my knowledge,that all statements and information in the'appraisal report are true and
->correct.: ::
3. I stated in the appraisal repo"f only my-own personal, unbiased, and '
professional analysrs; opinions;and on which are subject only to;the contingent
and limiting"conditions specified in this form <
4. I have no,present or prospective interest in the property that is the subject to
this report;and I have.no present or prospective personal interest or bias with respect to=
the,participantsp, e iransaction I did not base,:either partially or_compI tely, my
-'analysis.andfor the estimate`of market value in the appraisal report on the race, color,
religion, sex;handicap,familial status, or national origin of either the prospective owners
or occupants of the subject property or of the present owners oroccupants of the:
properties in the.vicinity of the subject property.
5. I have no present or contemplated future interest in the subject property, and
neither my current or future employment nor my compensation for performing this
appraisal is contingent on the appraised value of the property.
6. I was not required to report a predetermined value or direction in value that
favors the cause of the client or any related party, the amount of the value estimate, the
attainment of a specific result, or the occurrence of a subsequent event in order to receive
my compensation and/or employment for performing the appraisal. I did not base the
appraisal report on a requested minimum valuation, a specific valuation, or the need to
approve a specific mortgage loan.
6
7. I performed this appraisal in conformity with the Uniform Standards of
Professional Appraisal Practice that were adopted and promulgated by the Appraisal
Standards Board of the Appraisal Foundation and that were in place as of the effective
date of this appraisal, with the exception of the departure provision of those Standards,
which does not apply. I acknowledge that an estimate of a reasonable time for exposure
in the open market is a condition in the definition of market value and the estimate I
developed is consistent with the marketing time noted in the neighborhood section of this
report, unless I have otherwise stated in the reconciliation section.
8. I have personally inspected the interior and exterior areas of the subject
property and the exterior of all properties listed as comparables in the appraisal report. I
further certify that I have noted any apparent or known adverse conditions in the subject
improvements,'on the subject site, or on any site within the immediate vicinity of the
subject property of which I am aware and have-made adjustments for these adverse,
conditions in my analysis of.the property value tri the extent that I had market evidence to
support them. I have also commented about the effect of the adverse conditions on the
marketability of the subject property `.;
_< <
4 ,I personally prepared,all conclusions and,opinions about the real estate that-
were setforth m the appraisalreport :If Iielied'on�significaut professional a"ssistance
�froni-any individual or:individuals intheperformance of the appraisal or the pxeparationzti .
..
�of-the.,appraisal report=I have hawed s`uch;rridividual(s);and disclosed the specific tasks x-
perfozmedby them m.the reconciliation section of this appraisal report. I certify that any -.
individual sonamed'is'quaI ied to perform the tasks: I have not authorized anyone to
make'achange to-any-item in-this report,therefore;if an unauthorized change is made to ,
:
the;appraisal report; I will take no responsibility for it
Mark Kincheloe
Ag004032
7
PURPOSE OF THE APPRAISAL
The purpose of this appraisal is to estimate the "As Is" Market Value of the fee
simple interest in the subject property under market conditions existing as of May 21,
2000.
FUNCTION OF THE APPRAISAL
The appraiser was requested by the client to estimate Market Value of the subject
property for possible transaction purposes.
SCOPE OF THE APPRAISAL
The appraisal assignment was to estimate the market value of the subject
property.
Due:to the nature of.the subject property, the Sales Comparison Approach was
deemed the only approach valid in the`valuation`of the property The Cost Approach-was
not-considered to'be valid as the,subject is a vacant=parcel ,The Income Approach was,
not consideredto be:-applieable; as there was no income stream attributable:to the subject '
propertytthe:time ofinspectim
r
Tii preparing Hits report,';a searchwas conducted to etract the most reliable
"s - co'inparab16sales data m order to provide�a reasonable analysis of value for the sublect,�
property:. Comparable'properties in theTown of Truekeewere surveyed, and,the most
couiparable properties were utilized:Due to the�nature of the'subject property, it was not `
`necessary to use properties outside'the subject's immediate neighborhood m order to
" gather.enough data to amve at a reasonable valuation
In preparing this,report, a search was conducted to extract the most reliable
comparable sales data in order to provide reasonable analysis of value for the subject
property. Sources of information contained,within this'appraisal report include,but are
not limited to, the Nevada County Assessor's Office;>Town of Tnickee Planning
Department;Truckee Chamber of Con ueree, U.S..Department of Labor, physical
inspection of the subject property and it's immediate neighborhood, physical inspection of
all comparable sales utilized, and numerous market participants active in the subject's
market area.
This report is considered to be a Summary Appraisal Report. All information
collected during the appraisal process is contained in my files. All significant
information considered to be pertinent to this report is contained either in the body or the
addendum of this report. A full description of this information is not included in the
report but rather summarized for the purpose of simplicity, as stated in Standards Rule
2-2(b)t.
tThe Appraisal Institute Uniform Standards of Professional Appraisal Practice(1995).
8
PROPERTY RIGHTS APPRAISED
The property rights being appraised within this analysis are "Fee Simple Estate",
which is defined as follows:
"Absolute ownership unencumbered by any other interest
or estate; subject only to the limitations of eminent domain,
escheat,police power, and taxation."2
DEFINITION OF VALUE
The type of value represented in this appraisal is "Market Value", which is defined
as:
"Market Value"means the most probable price which a
property should-bring in a competitive and open market "
under all conditionsrequisite,to a:fair sale;"the buye%and.
�t seller"each"actingpnidentlyandknowledgeably and
`assuming the price is not affected by undue sfimulus.-
Implicit in this d initiori is the consummation of a sale'as
of a specified date;and the"passing of title from seller to
buyer under. conditions whereby
"buyer and seller are typically"motivated;
{2) both parties are well informed or well advised, and acting in what they'
consider their own best,interests;
(3) ' a reasonable time is allowed for exposure in the open market;
(4) " payment is made in terms of cash in U.S. dollars or in terms of financial
arrangements comparable thereto; and
(5) the price represents the normal consideration for the property sold
unaffected by special or creative financing or sales concessions granted
by anyone associated with the sale."3
2 The American Institute of Real Estate Appraisers, The Dictionary of Real Estate
Appraisal (Chicago, Illinois 1984).
3 Office of the Comptroller of the Currency under 12 CFR,Part 34,Subpart C
Appraisals, 34.42 Definitions[f].
9
NEIGHBORHOOD DESCRIPTION
The subject site is located within the city limits of Truckee. Truckee is made up of
several subdivisions, including Tahoe Donner, Glenshire, Sierra Meadows, and Prosser
Lakeview Estates. There are several other smaller subdivisions in and around Truckee
and Donner Lake.
Truckee is considered the Gateway to Lake Tahoe. Both Highway 89 and
Highway 267 access Lake Tahoe through Truckee. Amenities in Truckee include
Safeway and Lucky grocery stores, Bank of America, U.S. Bank,Wells Fargo and Placer'
Savings Bank, and several strip centers along Donner Pass Road that include various
retail and service businesses.
Truckee is experiencing a decline in available buildable lots. The market is in a
period of increasing values as demand is exceeding supply.=The price�of available lots is
increasing, as are building,cosfs due to additional building fees recently put in place.-The'
number of affordable entry level homes rs'deelining:'There is a strong demand for entry
level homes inaTriickee as the`strong economy in Cahfornia s fuelingxhe recreation and
tounsm industries in the area
In summary, available lots`iri Truckee ai6 beeommg;scarce:.Thera rs a strong
demand for properties such as the subject Marked values vi;Truckee are mcreasmg ,,` ..
rapidly due to a shortage of available.propertres - m
�...
10
DESCRIPTION OF THE SITE
The subject property is located within the city limits of Truckee, in the County of
Nevada, in the State of California. The subject is adjacent to the north boundary of Sierra
Meadows (a developed residential subdivision). A small retail and office strip center is
located on the western boundary of the subject. North of the subject and across Ca. State
Highway 267 is the Truckee Regional Park. East of the subject are various small
commercial parcels and a residential trailer park.
Inspection: The subject property was last inspected by the appraiser on May 21,
2000.
Size: ,The subject site consists of a portion of parcel number 19-450-41 containing;
approximately .195 acres.
Topography:`'As the appraiser has not been provided with topography,or survey
maps illustrating the exact topography of the subject property, any reference to', H,
topography in this reportis strictly on the bas'm6f physical inspection of the property,
',The topography of the subject property i"s,upslope`generally from north to south.
Special Ha11 zards -'-"A PN 19 450-41:is in flood zone Cper FENA map 060210
0508 B, dated 1119183 ;
Y4
Soak:: The"appraiser has not been provided a soils or geology report. The
appraiser has"assurned the soil conditions adequate to 6c developed to the subject's,,r,
highest and best
Utilities.`At the time of inspection,utilities available in the subjects area`include
power provided by Truckee Donner Public Utility District, and telephone provided by
Pacific Bell. :.
11
Easements: The appraiser was not provided a current copy of the title report on
the subject property. Upon inspection, it would appear that 25 feet of the 35 foot width is
a Sierra Pacific utility easement. In the case of the current owner of the property it is my
consiered opinion that the easement would be utilized as open space that could offset
increased density to the remainder of the parent parcel. In the case of the proposed
purchaser it is my understanding that the easement can be utilized to improve the density
of another parcel. In either case the utility easement does not aversly affect the value of
the subject.
Zoning: The current zoning on the subject parcel is R-1. The proposed zoning
under the proposed Town of Truckee general plan is RM-10. RM-10 allows the subject
to be subdivided to a maximum density of.ten units to the acre. This is'a higher density
than allowed under R-1.
VI
12
HIGHEST AND BEST USE
The subject consists of a.195 acre portion of a vacant parcel. For purposes of this '
appraisal report, the highest and best use is described as follows:
"That reasonable and probable use that supports the highest present value, as
defined, as of the effective date of the appraisal. Alternatively,that use, from among
reasonable probable and legal alternative uses, found to be physically possible,
appropriately supported, financially feasible, and which results in highest land value.
The definition immediately above applies specifically to the highest and best use
of land. It is to be recognized that in cases where a site has existing improvement on it,
the highest and best use may very well be determined to be different from the existing "
= ;
use. The existing use will continue',however,unless and until landwalue in its highest
and best use exceeds the total value of the propeity,in its existing use.
Implied within these definitions is recognition of the contribution of that specific
useao community environment or to community development goals in"addition to wealth "
maximization of mdry dual property owners Also implied is that the,determination'of "
x highest and"b6st use'results from the appraiser's ludgment;and analytical skill,i e;;,"that the
I use:determined from analysis represents an opunon,not a fact to be found ,;In�appraisal,"
'practice;thewconcept of highest and best use represents the prenusa upon which value is, "
ner pae "eel m h ntbased;In the contextom p
temi to reflect highesf and best use would be most probable use ;, the;context of
investment value an alternative term,would be mo`stprofitable use''4
r r
To�q'alify as highest and best use of land,the use imist meet the following
criteria ,The use mustbe, (1)physically"possible; (2)legally pernussible, (3)financially
feasible;and{4) maximally productive' "
rt ` There are two types of highest and bestuse; the highest and best use of land as "
though vacant, and the:highest and best use of the property asJimproved. For the purposes
of this apprai`saI feport, the highest and best use of the land as though vacant is the same
as the highest and best of the land as developed) The most likely,future use for the "
subject is residential subdivision development`
4 Real Estate Appraisal Terminology, Copyright 1981, A.I.R.E.A., S.R.E.A.
13
THE APPRAISAL PROCESS
The appraisal process involves the collection and analysis of all available market
data having an affect on the market value of the subject property. The process includes
an analysis of economic conditions,physical factors, and neighborhood characteristics
leading to the formation of an opinion as to the highest and best use of the subject
property. The value of the subject property is then estimated by applying three
approaches to value. These approaches are as follows:
1) , Cost Approach
2) Sales Comparison Approach
3) Income Approach
The first approach available to the appraiser is the Cost approach to value.
Accrued deprecation is deducted from the estimated cost new of the improvements and
the result is then added to the current estimate,of land vaiue The resultarit,figure .
mdreates4h&value of th e total property.;;The land,yalue is estimated by direct sales
comparison of similartiacant land sales
�.
The Direct Sales Comparison approaches used to estimate the value of the subject-
property as presently,improved. The appraiser gathers data on sales of comparable e
properties and analyzes each sale making logical adjustments for dissiirular
r characteristics Typically,aa common denominator is found such as,puce per square foot;-.
price per unit,and gross rent multiplier The direct:sales comparison approach usually-"
�.` gives a good4in cator of value,when sales of`similar properties axe availagp
ble''.
The Income approach rspredicated on the.,assumptron that there is a relationship
between the amount of income a propertywill generate and its valae`This approach is,'
` ,based on the princ ple`;that value is created by the'expeetatiori of benefits derived in the
future.,-The anticipated annual net income of the subjecf property is"capitalized at a ,.
market derived rate to produce an indicator of value for the subject property.
The finai,step in the appiaisal process is the reconciliation, or correlation, of the
value indicators. In the reconciliation section,'the appraiser considers the relative
applicability of each of the three approaches utilized and examines the range of value
indicators and places major emphasis on the approach that appears to produce the most
reliable estimate of market value.
14
VALUATIONANALYSIS OF THE SUBJECT PROPERTY
r The estimation of a real property's market value involves a systematic process in
which the appraisal problem is defined, the data required is gathered, analyzed and
interpreted into a value estimate. Traditionally,three methods of valuation have been
used in appraisal; the Cost,Direct Sales Comparison and Income approaches to value.
The subject property consists of a vacant parcel. The income approach is not applicable
as the only income attributable to the subject property at the time of inspection would be
the sale of the subject's parcel. The Cost Approach will not be utilized as the subject is a
vacant parcel of land. The Direct Sales Comparison approach will be utilized to estimate
the market value of the subject land.,'
' ", COMPARABLE'SALES TABLE--
,. .
Sale Date Land Area j
Sale# APN 7�A)ng Acres Document# $P1s��
'
Rp
1, 19 450 44 .R 2 3.97 ` 31141Q0 $101 266
A $400 000
ry
" 2 19-47010 &15 a xoued 7 156 11115199 $69,871
R " PP
$500 00V
E 72
3 45-190 17 R2-5000D.<?, 4.81 1I31f00 ; $83160.`
$400 000 2452
P 4: : 19-450 30 R2 1.49 ` 5/16100. $123 490
f :>
$184 000
i
i
3
t
15
SALES COMPARISON APPROACH
The sales comparison approach compares the subject property with other
properties that have recently sold or are currently listed for sale. Using this process, the
subject property is compared to recent sales or listings of similar properties. Adjustments
are made for significant differences between the comparables and the subject to arrive at
an indicated value of the subject.
In summary, the sales comparison approach will consider recent closed sales or
current listings of similar properties to ascertain a value estimate for the subject property.
All of these sales involved cash or terms equivalent to cash.
"Comparable Sale#1 is the sale of the property adjacent to the southern two thirds
of the western boundry of the parent parcel of the subject. This property is very similar to "
the subject except far topography."It"was`reported that a 40 unit apartment complex was',
the development plan:;This sale is considered to be a good indicator of value for the,
sublect a
t
Comparable 5ale'#2 is.the sale"of two`parcels of land on the southeast corner of
Maros vlalley Road'aiid Fltghway 267 (Broekwa'Road} This property is reportedly
. approved for 72 apartments m"m affordable housing project: This property is considered
inferior to thqsubleet"in location and supenor to'the sublect in topography This sale rs
considered to be a low andtcator;of value for the sublect:due"to the older sale date
r
Comparable Sale#3 is`the 50%"transfer of a parcel of land on the southeast side of
"Northwoo&Blvd."approximately 230 feet southeast of.the intersection of noithwo"ods.
and northwoods The$400,000 sale price`in the comparable sales table is the equivalent
sale price for 10Avinterest forIhe parcel,,,This property was-zoned R2-50010-D
multifamily,designation similar to the subjects proposed zoning}"of the time of the sale:
The development plan-for this parcel was reported to bee 40 unit condominium rojeef; "
The topography and the location is similar to the subject. This sale is considered to ben
low indicator of value for the subject due to the older sale date. `
Comparable Listing#4 is the sale of an 1.49 acre parcel of land adjacent to the
eastern boundry of the'subject."The development plan for this parcel is reported to be a
78 unit motel project with an office and managers living unit. The topography and the "
location is similar to the subject. This listing is considered to be a high indicator of value
for the subject due to the high density ratio of the development plan. "
16
All three sales and the listing were considered during the valuation process. More
weight was given comparable Sale#3 because it is the most recent closed sale and it is
the most similar to the subject.
Given the physical characteristics and legal constraints of the subject parcel, the
indicated value of the subject parcel is:
.195 Acres X$100,000 per Acres $19,500
Respectfully submitted,el
:F Mark Kincheloe
AG004032
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M E T R O S C A N P R O P E R T Y P R O F° I L E _
Nevada (CA)
* *
--------------
* OWNERSHIP INFORMATION
* Parcel No. : 19 450 41 000
_ x Owner :Truckee Donner P U D
* CoOwner
SiteAddress :10694 Brockway Rd Truckee
* MailAddress :PO Box 309 Truckee Ca 96160
* Teleohone :Owner: Tenant:
*
* -__-_--=_=______________
* SALES AND LOAN INFORMATION
-------------------------
- Transferred :12/03/1992 Loan Amount
* Document # :42418 Lender
* Sale Price Loan Type x
_ * Deed Type Interest Rate
x Owned Vesting Type '
* ASSESSMENT ADD TAX INFORMATION
----------------------
* Land Exempt Amount
* Struct: Exempt Type
* Other % Improved
* Total Tax Rate Area :03019
Taxes
------------
* PROPERTY DESCRIPTION
* Census :Tract: Block:
? Zoning :G GOVERNMENT *
j * Land Use :GO080Misc,Other,Unimproved
' * Legal :PCL 2 PM 6/37
* DISTRICT INFORMATION
i
*_ Elem School: Fire Truckee
* High School: Tahoe\Truckee Unified Park/Rec Truckee\Donner
* Com College: Sierra Water
* PROPERTY CHARACTERISTICS
s
* Bedrooms Bldg Sq Ft Lot Acres :45.86
* Bathrooms Stories Lot So Ft :1, 997, 662
* Air Method Units Year Bit
* Heat Mthod Pool Preserve x
* Fireplace Spa Topogrphy
* Porch Frontage
* Parking View Qlty
*
__e information Provided is Deemed Reliable, But Is -Ne' Guaranteed.
• . •. �ItlT 10 fL.41•.P ;•MRf W<41v!Gi K11M
. VICINITY MAP
CONSTRUCTI01
- - - 'p0000apooE
is.czf
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CHIROPRACTOR OFFICE �,9y -' Sfamsm•
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MARTIS VALLEY REALTY _ w.rRn R"M101
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PARKING REOIIIREO, 46 UFETS% LI SPACES/UNIT•51 REOJIRED SPACES OP TRUCKE.E
n PARKING PROPOSED, 51 TOTAL PARKIN i SPACES HIGHWAY 267
33 SFANDARO PARKING 6PAGE6
W COMPACT PARKING SPACES•354 pP TOTAL TRUCKEE
yi APPRO !' / SITE, APPROX.44,WO 60, FT. CAUFORNIA
udl 41 FT.
t1.0. .•.m. W Fru.euro
AREA \ MOUNTAIN DRIVES/PARKM, APPROx.n.000 50.
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PR6AL,IRY P}p.,
Q.
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aio
4 Uwt9 4d WALKWAYS/PAT W0 I DECKS, APPROX.6,400 8O.
F15 Y Alp BLDG, FOOTPRINTS, APPROX.5®00 SO. FT.
LL 4J BLDG. 5 eNau El'10VAL e....
TWO 510RIETI vEN BLDG. AREA, APPROX. Ib I90 TOTAL 50.FT.(]5<OF SITE AREA) ew•...0 an•
1%FT. W UNIT6 ExCila3E5 EASEMENT LEVEL STORAGE AT SLAG. 1 u..
( T. F MINwNn allon y
[AVERAGE, BUILDINGS APPROX. Idp OF BITE AREA
T PIG L • etoR.wn .,.•w•...m,...,.
_ PAVING APPROX.5M OF SIIE AREA
" ° ""� �'' •"°' LAFa�aCAPING APPROX,3 X OF SITE AREA
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48 49 000 Assessor's Map Sk. 19 - Pq. 45
ASSESSOR'S PARCEL MAP County of Nevado, Calif.
wow«M'-xo ra;b.i...wu rr us 1973
TRUCKEE INC. R.S. 6k II Pq 67
TRUCKEE RIVER CAMP(UNION ICE TRACT) - ROLL 6 , PAGE 21 '"e"°' a-,->z 3 n/ �- ee r r
S 112 SEC. 14 T17N, R.16E, M.D.B. a M. Tax Area Code
3-019 19-47
3-021
52
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Assessor's Map 8k. 19 - Pg 47
TRUCKEE INC. R.S. Bk II Pg 67 F—ASSESSOR'S—PARCEL MA—P-1
County of Nevada. Calif
POR. N.W. 1 /4 SEC. 9 T. 17 N., R. 16 E., M.D.B. a M. Tax Area Code 45 ® 19 '
3-001
I ^B
18 07 DETAIL B
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G®� PCL TAHOE-DONNER UNIT No.2
^A'• 23 Assessor's Map Bk.45 -Pg.19
ASSESSOR'S PARCEL MAP SUB. INC S Bk.
TRUCKEE INC RS. Bk.11 .67
P9 County of Nevada, Calif.
PINE VILLA (CONDO) SUB. 5 PS 9
O #
TIMBER RUN COND I P.M.PM.16/II 1971
3-rv91