Integra Realty Resources
Sacramento
Valuation Consultation
Point Molate
Redevelopment Project
Western Dr.
Richmond, Contra Costa County, California 94801
Prepared For:
City of Richmond
Date of the Report:
February 7, 2022
Report Format:
Appraisal Report
IRR – Sacramento
File Number: 193‐2021‐0618
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ATTACHMENT 5
1 Integra Realty Resources 590 Menlo Drive T 916.436.3883 Sacramento Suite 1 F 916.435.4774
Rocklin, CA 95765 www.irr.com
February 7, 2022
Belinda Brown, Finance Director/Treasurer
City of Richmond
450 Civic Center Plaza
Richmond, CA 94804
SUBJECT: Valuation and Consulting
Point Molate Project
Western Dr.
Richmond, Contra Costa County, California 94801
IRR ‐ Sacramento File No. 193‐2021‐0618
Dear Ms. Brown:
Thank you for considering Integra Realty Resources – Sacramento for your real estate valuation and consulting needs. To follow is our findings as it relates to the market data and analyses for the purposes of aiding in the formation of a proposed Community Facilities District (CFD) to assist in the redevelopment of Point Molate. This consulting assignment includes our preliminary analysis of current home pricing and annual rental rates for non‐residential development within the boundaries of the proposed CFD.
This report is intended to comply with the requirements for a Restricted Appraisal Report contained in Standards Rule 2‐2 (b) of the Uniform Standards of Professional Appraisal Practice (USPAP). As such, it presents limited discussions of the data, reasoning and analysis used in the appraisal process to develop the opinions herein.
According to the Richmond Point Molate Fiscal and Economic Impact Analysis, prepared by Economic & Planning Systems, Inc. (EPS), dated June 17, 2020, The Point Molate Project is proposed and entitled for between 1,260 and 2,040 residential dwelling units, approximately 625,000 square feet of nonresidential development and 15,000 square feet of civic/community uses. The present proposed DRAFT
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2 land use for Point Molate, which is excerpted from the Total Tax Rate Analysis, prepared by DPFG, calls for 1,160 for‐sale residential dwelling units and 292 for‐rent dwelling units, for a total of 1,452 residential dwelling units, and 390,774 square feet of mixed‐use restaurant/retail and office/R&D development.
Presented below is an exhibit of the Point Molate Project:
The use of public, land‐secured financing mechanisms like community facilities districts (CFDs) and assessment districts (ADs) are often used as part of the development of public infrastructure for master planned communities throughout the State of California. In fact, most new developments and redevelopments throughout the San Francisco Bay Area are encumbered by community facilities districts to aid in the financing of public improvements. Interviews with both land developers and merchant homebuilders in emerging areas and infill locations with onerous infrastructure costs, affirm land‐secured financing is necessary for residential development, and several merchant builders we’ve interviewed confirm land‐secured financing must be in place prior to acquiring developable residential lots/land for home development.
For instance, the following developments, which contain single‐family, multifamily and non‐residential (office, retail and industrial) land uses, are encumbered by a CFD for the purposes of funding public improvements:
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3 Treasure Island (City and County of San Francisco) East Garrison (County of Monterey) Mission Rock (City and County of San Francisco) Oyster Point (City of South San Francisco) Alameda Landing (City of Alameda) University District (City of Rohnert Park) Warm Springs (City of Fremont) Napa Pipe Redevelopment (City of Napa) Dublin Crossing (City of Dublin)
In an interview with a land developer of master planned communities, he noted land developers (sellers) will typically insist on using land‐secured financing, especially in a market where most, if not all, of the competition has it, in order to remain competitive of land prices; without the ability to transfer land‐secured debt to a buyer (in this case, a merchant homebuilder), the land prices will necessarily be higher and less appealing to a buyer. Similarly, for homebuilders, not having a CFD may seem favorable from a marketing standpoint (think sales banner out front: “NO MELLO‐ROOS”), but shoppers see the corresponding higher home prices for that builder’s homes when compared to the competition and often don’t spend enough time in the sales office to understand that the cost of ownership is the same.
For‐Sale Residential Analysis
According to the information provided and available for this analysis, the proposed Point Molate Project will include three for‐sale residential product lines: 185 single‐family homes (3,500 square foot average unit size), 173 low rise apartment and townhomes (1,800 square foot average unit size) and 802 mid‐rise condominiums (1,500 square foot average unit size). In the collection of market data we surveyed the local Multiple Listing Service (MLS) for recent resales of homes proximate to former or existing refineries, similar to the subjects location proximate to the Chevron refinery. In addition, we utilized The Gregory Group, who surveys active new home projects in California and Nevada, to analyze current base prices of active projects in the surrounding market area.
We surveyed four areas proximate to former or existing refineries, which included the neighborhood immediately south of the Chevron Richmond Refinery, as well as the area east of the Chevron Richmond Refinery, neighborhoods adjacent to the Phillips 66 San Francisco Refinery and the NuStar Energy within Hercules and Rodeo, and the neighborhoods adjacent to the Shell Martinez Refinery.
A summary of detached single‐family home resales within each of these queried locations since January 1, 2021 is provided in the table below. Further detail of these quires as provided by the MLS are provided at the end of this letter.
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4 There is also one active detached project within Richmond, developed by William Lyon Homes; this is a small lot (2,000 sf) subdivision of 95 homes. The project summery as provided by The Gregory Group is shown on the following page; this project is located at the southeast quadrant of Marina Way S. and Wright Avenue, south of Interstate 580. It is east of the Harbor Channel and north of the Inner Harbor Basin, approximately 0.8 miles north of the waterfront.
Nighborhood:
South of Chevron
Richmond Refinery
East of Chevron
Richmond Refinery
Adjacent to Phillips 66
San Francisco Refinery &
NuStar Energy
Adjacent to Shell
Martinez Refinery
No. of Sales Since 1/2021 2 19 42 32
Home Price
Minimum $1,575,000 $490,000 $750,000 $385,000
Maximum $1,800,000 $805,000 $1,425,000 $1,125,000
Avera ge $1,687,500 $622,833 $1,032,448 $774,154
Home Size
Minimum 2,300 991 2,053 1,231
Maximum 3,161 2,869 4,200 3,118
Avera ge 2,731 1,814 2,856 1,890
Price per SF
Minimum $569.44 $263.03 $277.38 $298.27
Maximum $684.78 $600.40 $488.00 $564.13
Avera ge $627.11 $356.39 $365.89 $425.56
Days on Market
Minimum 4 2 0 3
Maximum 41 163 92 68
Avera ge 23 26 19 17
Year Built
Minimum 2006 2001 2000 2002
Maximum 2014 2020 2021 2019
Avera ge 2010 2006 2007 2011
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5 The homes within this project are smaller than the average single‐family home (detached) proposed for the subject (3,500 square feet). Further, given its location further removed from the waterfront, a base price for the subject above this project is reasonable.
Of the recent single‐family home resales (detached) within the immediate area of the Chevron Richmond Refinery, the homes located to the south, most proximate to the water are considered most similar to the subject. Two homes sold within this surveyed area:
Address Year Built Bed / Bath Home Size Sales Price 500 Tremont Avenue 2014 3 bed/3 bath 2,300 SF $1,575,000 531 Santa Fe Avenue 2006 4 bed/ 4 bath 3,161 SF $1,800,000
In addition to the date above, we also surveyed the East Bay Area region for new home redevelopment projects actively marketing (or recently closed out) new homes. These projects are presented on the following pages.
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6 As the subject property will be developed as a master planned community of multiple product lines, with multiple new homebuilders, the following projects resemble similar such master planned developments:
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7 Considering the subject would be new construction and within a new community of Richmond, as well as the subject’s hillside location, which would promote views of the Bay, based on the data herein a base price for the average 3,500 square foot home of $1,800,000 is considered reasonable (approximately $514 per square foot).
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8 As for the attached for‐sale product, there was limited resales within the queried areas. Specifically, there were five attached resales within a project in Martinez, adjacent to the Shell Martinez Refinery, which ranged from $650,000 and $714,688. These homes were constructed in 2016 and were between 1,874 and 2,074 square feet in size.
There are two active attached projects located in El Cerrito and Martinez. Again, given the inland location of Martinez, limited reliance is given to the active project in this market area. El Cerrito is located southeast of Richmond, east of Interstate 80. While this project does not feature a waterfront location, or close proximity to the waterfront, we have considered the current base pricing of this project in order to estimate the base price of the subject’s attached for‐sale product types (low rise apartments and townhomes, and mid‐rise condominiums).
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9 DRAFT
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10 The low‐rise apartments and townhomes are proposed to have an average unit size of 1,800 square feet, and mid‐rise condominiums 1,500 square feet. Based on the subject’s location and development along the hillside of Point Molate, it is reasonable to expect base prices towards the upper end of the range indicated by the Village 29 project (excluding the smallest (410 sf units)), which range from $928,952 to $1,598,499). Therefore, a base price for the average 1,800 square foot townhome unit of $1,350,000 is considered reasonable (approximately $750 per square foot), and for the 1,500 square foot condominium unit a price of $1,300,000 is reasonable (approximately $875 per square foot).
As part of this analysis recent sales data was also obtained from the Point Richmond area; specifically, within the Brickyard Landing and Waterline projects. Since January 1, 2020, there have been 69 sales within these communities. Excluding homes/units constructed prior to 2000, homes have sold at price points from $635,000 to $2,450,000. The lower price points are reflective of attached units; the lowest sale price of detached units was $850,000. A summary of the most applicable sales are shown on the next page. DRAFT
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11 DRAFT
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12 Finally, we will examine the ability to pay among prospective buyers for the highest estimated price points concluded for each of the for‐sale residential components. First, we will estimate the required annual household income based on typical mortgage parameters in the subject’s market area.
Specifically, we will employ a loan‐to‐value ratio of 80% (down payment of 20%), mortgage interest rates of 3.00%, 360 monthly payments, and a 40% ratio for the housing costs as a percent of monthly income (inclusive of principal, interest, all taxes and insurance). As alluded to above, property tax payments are accounted for in the analysis. Total taxes (ad valorem taxes, direct charges and bond payments) of 2.0% of assessed value, which includes future proposed CFD Special Taxes, is utilized for this analysis.
The following table shows the estimate of the annual household income that would be required to afford homes priced at the estimated price points.
In the following table we show the income brackets within a seven‐mile radius of the subject along with estimates of the percentage of households able to afford the low rise townhomes priced at $1,350,000 within each income bracket. Although, a representative area of typical buyers for the subject property would likely characterize a broader area.
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13 For‐Rent Residential
The for‐rent residential component is proposed to include three product lines: 68 low rise apartments and townhomes (1,500 square foot average unit size), 157 mid‐rise apartments (1,000 square foot average unit size) and 67 affordable units (800 square foot average unit size).
In the collection of market data we searched for multifamily properties have sold since January 1, 2020 within market areas surrounding Richmond, which included, but not limited to, Oakland, Berkley, Martinez, San Pablo, El Cerrito and Alameda. We compiled 21 sales; although, a majority of these properties were constructed between 1960 and 2000. Only four sales were of newer construction, between 2003 and 2020, and are summarized in the following table:
Considering the sales above, the estimated value of $400,000 per low rose apartment/townhome unit as shown in the finance place is supportable, as well as the $450,000 per mid‐rise apartment unit.
Due to the limited information available related to the affordable for‐rent units (i.e., very low, low, moderate income restrictions, etc.), it is difficult to opine on the anticipated sale price, as affordable housing transactions can be influenced by deed restrictions, housing assistance programs and whether low‐income housing tax credits (LIHTC) are available. Thus, a value to some degree less than the market rate units is probable.
Address City Specific Use Sale Date
Effective
Sale Price Occupan c
Gross
Building
Area SF
GLA/
Rentable
Area
No.
of
Units Price/Units
Year
Built
1401 Jackson St. Oakland Multifamily-Retail 2/24/2020 $20,500,000 100% 39,041 39,041 45 455,556 $ 2009 334 Main St. Martinez Garden/Low Rise 4/2/2020 $1,500,000 100% 2,530 2,530 4 375,000 $ 2003 625 16th Street Oakland Mid/High-Rise 6/2/2020 $77,900,000 0% 130,000 96,005 140 556,429 $ 2020 4901 Broadway Oakland Multifamily-Retail 3/31/2020 $80,995,000 94% 98,618 98,618 130 623,038 $ 2018 DRAFT
ATTACHMENT 5
14 Non‐Residential
The non‐residential component is proposed to include approximately 55,000 square feet of rentable restaurant/retail space, 304,580 square feet of rentable mixed use office R&D space, and 31,194 square feet of rentable office space.
According to CompStak, a nationwide commercial real estate data platform, the average commercial (office, retail and industrial) lease rate over the past six months in the Richmond/San Pablo submarket was $35.40 per square foot and an average net effective lease rate of $37.68 per square foot. The average lease term was four years and six months, while the average tenant improvement allowance was $3.47 per square foot and average free rent was 2.3 months.
For purposes of analyzing non‐residential land uses encumbered by a CFD, we identified the Pacific Commons Power Center, which is part of the City of Fremont Community Facilities District (CFD) No. 1 (Pacific Commons). This project was predominately constructed between 2004 and 2006. We queried CoStar Property Analytics for recent leasing activity of commercial properties (office, retail, R&D) within the Pacific Commons Power Center and the surrounding properties within the boundaries of the City of Fremont CFD No. 1 (Pacific Commons), a map of which is provided on the following page (CFD boundary lines are approximate).
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ATTACHMENT 5
15 Address Property Type Tenant/Occupant
Building
Class
Rentable
Building Area
(SF)
CoStar Estimated
Rent ($/SF/Yr.)*
Current Asking
Rent ($/SF/Yr.)
43950 Pacific Commons Blvd. Department Store Target B1 3 8 , 0 0 0 $ 2 0 . 0 0 ‐ 25.00 43923 Pacific Commons Blvd. Freestanding Dick's Sporting Goods B 46,000 $22.00 ‐ 26.00 43917 Pacific Commons Blvd. Freestanding Century Theaters C 60,000 $21.00 ‐ 25.00 43621 Pacific Commons Blvd. Freestanding Costco B1 1 9 , 1 1 8 $ 2 8 . 0 0 ‐ 34.00 43612 Pacific Commons Blvd. Freestanding B1 6 8 , 5 9 3 $ 2 5 . 0 0 ‐ 31.00 43349 Pacific Commons Blvd. Fast Food In ‐N‐Out Burger B 3,160 $30.00 ‐ 37.00 43330 Pacific Commons Blvd. Restaurant B 14,300 $31.00 ‐ 38.00 43810 Cushing Pky. Freestanding B2 2 , 7 1 8$ 1 5 . 0 0 ‐ 19.00 5318‐5338 Curie St. Freestanding B6 , 6 8 0 $ 2 7 . 0 0 ‐ 33.00 43960‐43986 Christy St. Freestanding B1 2 , 0 0 0$ 2 0 . 0 0 ‐ 25.00 43810 Christy St. Freestanding B7 , 5 3 9 $ 3 1 . 0 0 ‐ 38.00 43782 Christy St. Freestanding Kohl's B9 8 , 8 8 8$ 2 8 . 0 0 ‐ 35.00 43706‐43756 Christy St. Freestanding B9 2 , 0 7 7$ 2 2 . 0 0 ‐ 27.00 43522‐43598 Christy St. Freestanding B7 8 , 2 4 7$ 2 9 . 0 0 ‐ 35.00 43405‐43425 Christy St. Freestanding B8 , 9 0 6 $ 2 9 . 0 0 ‐ 36.00 43316 Christy St. Restaurant B6 , 6 0 3 $ 3 1 . 0 0 ‐ 37.00 * The CoStar Estimated Rent™ is CoStar’s estimated starting rent for new leases in a building. Estimated Rents are determined through a proprietary algorithm that includes several key data points, such as current historical asking rents, historical lease transactions, market submarket trends, and more.
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16 According to CoStar, the market retail lease rate for the city of Fremont is $33.40 per square foot and the market industrial lease rate is $16.53 per square foot. Based on the market averages for the city of Fremont as reported by CoStar, the data for commercial properties encumbered by a CFD (Pacific Commons) are generally consistent, if not slightly less than lease rates of unencumbered commercial properties.
In the collection of market data we searched for new lease comparable for commercial properties (office, retail, R&D) within market areas surrounding Richmond, which included, but not limited to, Oakland, Berkley, El Cerrito and Alameda. Our query identified six full service leases, three triple net leases and two modified gross leases. A majority of the comparables are of newer construction, or renovated within the last 20 years. The comparables are summarized in the following table by lease reimbursement method.
Address Property Type
Building
Class
Rentable
Building Area
(SF)
CoStar Estimated
Rent ($/SF/Yr.)*
Current Asking
Rent ($/SF/Yr.)
44320 Nobel Dr. Light Distribution B 105,700 $14.00 ‐ 17.00 44259 Nobel Dr. R&D C6 0 , 0 0 0$ 1 3 . 0 0 ‐ 16.00
44235 Nobel Dr. R&D B7 4 , 1 6 6 $21.00
44217 Nobel Dr. Light Manufacturing B 65,332 $15.00 ‐ 18.00 44201 Nobel Dr. Light Manufacturing B 129,931 $15.00 ‐ 18.00 44091‐44131 Noebl Dr. Light Manufacturing B 187,298 $10.00 ‐ 12.00 44051‐44061 Nobel Dr. Light Manufacturing B 53,250 $11.00 ‐ 13.00 6700 Automall Pky. Warehouse B 474,454 $10.00 ‐ 12.00
44509 Pacific Commons Blvd. Warehouse B 178,910 $10.00 ‐ 12.00 44508 Pacific Commons Blvd. Warehouse B 104,399 $10.00 ‐ 12.00 44109 Pacific Commons Blvd. Warehouse B 369,180 $10.00 ‐ 12.00 44108 Pacific Commons Blvd. Manufacturing B 101,191 $14.00 ‐ 17.00 5588 Cushing Pky. Warehouse A 814,852 $10.00 ‐ 12.00
5567 Cushing Pky. Warehouse A 163,193 $10.00 ‐ 12.00
44307 Christy St. R&D B8 8 , 2 4 6$ 1 5 . 0 0 ‐ 19.00
44300 Christy St. R&D B4 2 , 6 0 4$ 1 0 . 0 0 ‐ 12.00
44200 Christy St. R&D B4 2 , 5 1 5$ 1 5 . 0 0 ‐ 19.00
5210 Bunche Dr. R&D B3 5 , 1 0 9$ 1 5 . 0 0 ‐ 18.00
5165‐5177 Brandin Ct. R&D B1 5 , 1 1 2$ 9 . 0 0 ‐ 11.00 5121‐5127 Brandin Ct. Manufacturing B 21,619 $13.00 ‐ 16.00 5120 Brandin Ct. Warehouse B 15,400 $13.00 ‐ 16.00
5071‐5087 Brandin Ct.L i g h t Manufacturing B 32,626 $15.00 ‐ 18.00 5070 Brandin Ct. Manufacturi ng B 56,257 $12.00 ‐ 15.00 5020 Brandin Ct. R&D B7 6 , 5 9 9$ 1 2 . 0 0 ‐ 14.00
5005‐5055 Brandin Ct. Light Manufacturing B 70,074 $12.00 ‐ 14.00 * The CoStar Estimated Rent™ is CoStar’s estimated starting rent for new leases in a building. Estimated Rents are determined through a proprietary algorithm that includes several key data points, such as current historical asking rents, historical lease transactions, market submarket trends, and more.
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17 Focusing on the newer construction, or properties renovated within the last 20 years, the market suggests a commercial lease rate within the following ranges: $62.28 to $68.88 per square foot, full service, and $45.00 to $65.00 per square foot, triple net. The modified gross lease comparables are of older construction (1962 and 1987); thus, limited reliance is placed on these comparables.
Considering the lease data presented herein, the estimated market lease rate for the subject’s non‐ residential components in the range of $60.00 to $70.00 per square foot, full service, is considered reasonable given the subject will be of new construction, but also considers the additional CAM related to special taxes (proposed CFD).
Sara Gilbertson
Certified General Real Estate Appraiser
California Certificate # 3002204
Eric Segal, MAI
Certified General Real Estate Appraiser
California Certificate # AG026558
Address City Start Date
Rentable Area
(Lease)
Lease
Term
Lease
Reimbursement
Method Lessee
Effective Rental
Rate ($/SF/Yr)
Effective Rental
Rate ($/SF/Mo)
Property
Class
Year
Built
Year
Renovated Stories
1221 Broadway Oakland 12/1/2021 79,357 126 Full Service Fivetran $65.04 $5.42 A 1976 24 1300 Clay St. Oakland 11/15/2021 9,441 128 Full Service Terrphase Engineering $62.28 $5.19 A 1990 2002 11 501 14th St. Oakland 10/1/2021 8,448 64 Full Service Allied Administrators $51.84 $4.32 B 1990 3 426 17th St. Oakland 9/1/2021 9,243 84 Full Service Haley & Aldrige $63.48 $5.29 B 1927 2001 7 1111 Broadway Oakland 9/1/2021 14,647 91 Full Service Gibbs Law Group $68.88 $5.74 A 1990 2002 24 1999 Harrison St. Oakland 5/1/2021 9,106 39 Full Service Husch Blackwell $64.20 $5.35 A 1985 2006 27 Minimum 8,448 39 $51.84 $4.32
Maximum 79,357 128 $68.88 $5.74
Av erage 21,707 89 $62.62 $5.22
2580 Bancroft Way Berkeley 8/1/2021 3,400 180 Triple Net Raising Cane's $65.00 $5.42 A 2021 8 11720-11760 San Pablo Ave. El Cerrito 7/19/2021 898 36 Triple Net Gangnam Tofu $27.00 $2.25 B 1977 4 2450 Valdez St. Oakland 7/1/2021 4,123 120 Triple Net Limon Rotisserie $45.00 $3.75 A 2019 7 Minimum 898 36 $27.00 $2.25
Maximum 4,123 180 $65.00 $5.42
Av erage 2,807 112 $45.67 $3.81
3017 Telegraph Ave. Berkeley 8/1/2021 2,462 120 Modified Gross Yip, P. $37.76 $3.15 B 1987 3 396-398 Colusa Ave. Kensington 1/1/2021 1,075 36 Modified Gross Natura Health & Wellness $30.00 $2.50 B 1962 1 Minimum 1,075 36 $30.00 $2.50
Maximum 2,462 120 $37.76 $3.15
Av erage 1,769 78 $33.88 $2.82
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ATTACHMENT 5
18 MLS Resale Data
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ATTACHMENT 5
Map Report
Listings
# Listing # Status Address City ZIP Code Area Type Price Beds Baths Sq Ft Acres 1 40950983 Closed 500 Tremont Ave Richmond 94801 Richmond-Point Richm RESI $1,575,000 3 3 2300 0.1492 2 40954299 Closed 531 Santa Fe Ave Richmond 94801 Richmond-Point Richm RESI $1,800,000 4 4 3161 0.1376 Presented By: Eric Segal Lic: AG026558 / Seevers Jordan Ziegenmeyer Phone: 415-435-3883 Lic:
Copyright: 2021 by San Francisco Assoc of REALTORS - All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy.
Copyright ©2021 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
Map data ©2021 Google
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ATTACHMENT 5
Statistical Summary
Criteria
Map Draw 1 Shape Property Types RESI, RESL, INCP Status Closed (1/1/2021 or after) Year Built 2000 or more Listing Statuses
Active Pending Closed Other Total
0 0 2 0 2
Aggregate Statistics
Minimum Average Median Maximum Tot. Val.
Bedrooms 3 4 4 4
Bathrooms 3 3 3 4
Square Feet 2,300 2,731 2,730 3,161
Approx Lot Size Acres 0.14 0.14 0.14 0.15
Approx Lot Size SqFt 5,996 6,248 6,248 6,500
Year Built* 2006 2010 2010 2014
Listing Price $1,699,000 $1,699,500 $1,699,500 $1,700,000 Listing Price Per Sq. Ft. $537.49 $638.31 $638.31 $739.13 Lot Size Listing Per Acre $11,392,615.38 $11,867,792.02 $11,867,792.02 $12,342,968.65 Closed Price $1,575,000 $1,687,500 $1,687,500 $1,800,000 $3,375,000 Closed Price Per Sq. Ft. $569.44 $627.11 $627.11 $684.78 Lot Size Closed Price Per Acre $10,554,923.08 $11,815,820.44 $11,815,820.44 $13,076,717.81 DOM 4 22 22 41
CDOM 4 22 22 41
*Calculations for this field only use listings with valid values; listings with blank or zero values are excluded DOM Statistics for Closed Listings
# of Listings % of Total SP % LP
0-30 Days 1 50 105.94
31-60 Days 1 50 92.65
61-90 Days 0 0
91-120 Days 0 0
120+ Days 0 0
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ATTACHMENT 5
# of Listings % of Total SP % LP
Totals/Averages 2 100 99.30
CDOM Statistics for Closed Listings
# of Listings % of Total SP % LP
0-30 Days 1 50.00 105.94
31-60 Days 1 50.00 92.65
61-90 Days 0 0.00
91-120 Days 0 0.00
120+ Days 0 0.00
Totals/Averages 2 100 99.30
Eric Segal
Seevers Jordan Ziegenmeyer
Phone: Primary:415-435-3883
Office: 415-435-3883
Email: [email protected]
Lic: AG026558 Office Lic.:
Copyright: 2021 by San Francisco Assoc of REALTORS - All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy.
Copyright ©2021 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
Generated: 12/13/2021 10:35 AM
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ATTACHMENT 5
Map Report
Listings
# Listing # Status Address City ZIP Code Area Type Price Beds Baths Sq Ft Acres 1 40915899 Closed 642 5th N St Richmond 94801 Richmond-North & Wes RESI $545,000 4 2 2072 0.1993 2 81807312 Closed 11 Willard Ave Richmond 94801 20803 RESI $490,000 4 3 1361 0.0574 3 40922734 Closed 1541 Giaramita St Richmond 94801 Richmond-North & Wes RESI $629,000 4 2 1686 0.1148 4 40926889 Closed 535 Marina Bay Pkwy Pkwy Richmond 94804 Richmond-South INCP $1,050,000 0 4158 0.1256 5 40929019 Closed 145 Ellison Ln Richmond 94801 Richmond-North & Wes RESI $608,000 4 3 2055 0.0597 6 40942310 Closed 1318 York St Richmond 94801 Richmond-North & Wes RESI $520,000 3 3 1580 0.0574 7 40946808 Closed 116 Spears Cir Richmond 94801 Richmond-North & Eas RESI $805,000 5 3 2401 0.0597 8 40947576 Closed 481 Metro Walk Way Richmond 94801 Richmond-North & Eas RESI $581,000 4 4 1760 0.0293 9 40946807 Closed 1533 Hoffman Blvd Richmond 94804 Richmond-South RESI $775,000 4 2 2869 0.2009 10 40949853 Closed 251 S 3rd St Richmond 94804 Richmond-South RESI $600,000 3 3 1631 0.0646 11 421561858 Closed 479 Metro Walk Way Richmond 94801 Richmond/San Pablo RESI $585,000 4 4 1649 0.0253 12 40954442 Closed 140 Spears Cir Richmond 94801 Richmond-North & Eas RESI $720,000 4 3 2401 0.0551 13 40955718 Closed 407 Malcolm Dr Richmond 94801 Richmond-North & Wes RESI $750,000 3 3 2067 0.0590 14 40956997 Closed 310 Village Ln Richmond 94801 Richmond-North & Wes RESI $590,000 4 4 1760 0.0325 15 40960863 Closed 580 Sanford Ave North Richmond 94801 Richmond-North & Wes RESI $595,000 3 2 991 0.1148 16 81856442 Closed 272 Malcolm Dr Richmond 94801 Richmond-North & Wes RESI $675,000 3 3 1829 0.0823 17 81859461 Closed 465 Metro Walk Way Richmond 94801 Richmond-North & Wes RESI $595,000 4 4 1666 0.0300 18 40966470 Closed 448 Marina Way Richmond 94801 Richmond-North & Wes RESI $608,000 3 4 1640 0.0224 19 40970459 Closed 1344 Battery St Richmond 94801 Richmond-North & Wes RESI $540,000 3 2 1226 0.0574 Presented By: Eric Segal Lic: AG026558 / Seevers Jordan Ziegenmeyer Phone: 415-435-3883 Lic:
Copyright: 2021 by San Francisco Assoc of REALTORS - All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy.
Copyright ©2021 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
Map data ©2021 Google
DRAFT
ATTACHMENT 5
Statistical Summary
Criteria
Contains selected listings. Map Draw 1 Shape Property Types RESI, RESL, INCP Status Closed (1/1/2021 or after) Year Built 2000 or more Listing Statuses
Active Pending Closed Other Total
0 0 19 0 19
Aggregate Statistics
Minimum Average Median Maximum Tot. Val.
Bedrooms 0 3 4 5
Bathrooms 0 2 3 4
Square Feet 991 1,937 1,760 4,158
Approx Lot Size Acres 0.02 0.08 0.06 0.20
Approx Lot Size SqFt 975 3,318 2,570 8,750
Year Built* 2001 2006 2006 2020
Listing Price $449,999 $614,505 $575,000 $1,098,000
Listing Price Per Sq. Ft. $236.21 $333.18 $335.44 $552.98 Lot Size Listing Per Acre $2,760,138.25 $11,388,236.95 $9,234,720.00 $25,689,230.77 Closed Price $490,000 $645,316 $600,000 $1,050,000 $12,261,000 Closed Price Per Sq. Ft. $252.53 $350.92 $354.76 $600.40 Lot Size Closed Price Per Acre $2,735,046.08 $11,983,802.70 $9,408,960.00 $27,163,569.23 DOM 2 25 16 163
CDOM 2 27 17 163
*Calculations for this field only use listings with valid values; listings with blank or zero values are excluded DOM Statistics for Closed Listings
# of Listings % of Total SP % LP
0-30 Days 15 78 105.82
31-60 Days 3 15 99.89
61-90 Days 0 0
91-120 Days 0 0
120+ Days 1 5 108.89
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ATTACHMENT 5
# of Listings % of Total SP % LP
Totals/Averages 19 100 104.87
CDOM Statistics for Closed Listings
# of Listings % of Total SP % LP
0-30 Days 14 73.68 105.81
31-60 Days 4 21.05 101.31
61-90 Days 0 0.00
91-120 Days 0 0.00
120+ Days 1 5.26 108.89
Totals/Averages 19 100 105.34
Eric Segal
Seevers Jordan Ziegenmeyer
Phone: Primary:415-435-3883
Office: 415-435-3883
Email: [email protected]
Lic: AG026558 Office Lic.:
Copyright: 2021 by San Francisco Assoc of REALTORS - All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy.
Copyright ©2021 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
Generated: 12/13/2021 10:39 AM
DRAFT
ATTACHMENT 5
Map Report
Listings
# Listing # Status Address City ZIP Code Area Type Price Beds Baths Sq Ft Acres 1 22029852 Closed 163 Trestle Cv Hercules 94547 21137 RESI $945,000 5 4 3170 0.1295 2 22030132 Closed 160 Watermark Ter Hercules 94547-2658 21137 RESI $1,085,000 4 3 3027 0.1605 3 40914545 Closed 701 San Pablo Ave Rodeo 94572 Rodeo INCP $2,400,000 0 17652 0.6200 4 40913953 Closed 172 Watermark Ter Hercules 94547 Hercules-1301 RESI $1,100,000 5 4 3239 0.1753 5 40925020 Closed 181 Copper Beech Gln Hercules 94547 Hercules-1301 RESI $750,000 4 3 2123 0.0959 6 40928942 Closed 512 Laurelwood Dr Hercules 94547 Hercules-1302 RESI $830,000 5 3 2703 0.1104 7 40932406 Closed 163 Trestle Cv Hercules 94547 Hercules-1302 RESI $945,000 5 4 3170 0.1295 8 40933373 Closed 160 Maritime Ter Hercules 94547 Hercules-1302 RESI $1,135,000 4 5 3489 0.2689 9 40934253 Closed 139 Dockside Bay Hercules 94547 Hercules-1302 RESI $1,040,000 6 4 3634 0.2302 10 40933007 Closed 1042 Gardenia Loop Hercules 94547 Hercules-1302 RESI $920,000 5 4 2803 0.0803 11 40935034 Closed 121 S Arbor Bay Hercules 94547 Hercules-1302 RESI $1,125,000 5 5 3489 0.1287 12 40936703 Closed 1975 Vista Del Rio St Crockett 94525 Crockett/Port Costa RESI $1,165,000 4 4 4200 0.3444 13 40937534 Closed 124 Jacaranda Ct Hercules 94547 Hercules-1301 RESI $810,000 4 3 2108 0.1031 14 40937502 Closed 1045 Rock Harbor Pt Hercules 94547 Hercules-1302 RESI $1,270,000 5 4 3410 0.1399 15 40938177 Closed 118 Hidden Cove Hercules 94547 Hercules-1302 RESI $1,200,000 5 4 3228 0.1661 16 40938875 Closed 1159 Lantern Bay Hercules 94547 Hercules-1301 RESI $950,000 4 3 2459 0.1060 17 221017058 Closed 1942 Tioga Loop Hercules 94547-2793 Hercules-1302 RESI $910,000 4 4 2419 0.0538 18 221021129 Closed 1851 Shasta Ln Hercules 94547-2748 Hercules-1302 RESI $855,000 3 3 2555 0.0501 19 40940532 Closed 121 Watermark Ter Hercules 94547 Hercules-1302 RESI $1,250,000 4 4 3389 0.1519 20 40943741 Closed 181 Trestle Cv Hercules 94547 Hercules-1301 RESI $1,128,888 4 3 2506 0.1440 21 321021922 Closed 2009 Shasta Ln Hercules 94547-2788 Hercules-1301 RESI $920,000 4 4 2441 0.0451 22 321022611 Closed 1045 S Shelter Bay Hercules 94547-2633 Hercules-1301 RESI $1,005,000 5 3 3170 0.1148 23 321027090 Closed 1012 N Shelter Bay Hercules 94547-2617 Hercules-1302 RESI $1,264,000 5 4 3410 0.1449 24 40948399 Closed 1039 Regatta Pt Hercules 94547 Hercules-1302 RESI $1,425,000 5 5 3832 0.1545 25 321027921 Closed 759 Edward Werth Dr Rodeo 94572-1458 Rodeo RESI $769,999 5 3 2300 26 40949943 Closed 112 White Cap Cv Hercules 94547 Hercules-1302 RESI $1,200,000 4 3 2459 0.1014 27 81845098 Closed 2007 Tioga Loop Hercules 94547 Hercules-1301 RESI $922,500 4 4 2419 0.0433 28 40948082 Closed 1060 Victoria Park Hercules 94547 Hercules-1301 RESI $1,310,000 5 4 3410 0.1391 29 40951906 Closed 169 Trestle Cv Hercules 94547 Hercules-1302 RESI $1,275,000 4 4 2937 0.1430 30 40950434 Closed 154 Driftwood Cv Hercules 94547 Hercules-1302 RESI $1,050,000 4 3 2459 0.1165 31 40953674 Closed 1009 Gardenia Loop Hercules 94547 Hercules-1301 RESI $1,078,000 4 3 3034 0.0781 32 421564184 Closed 1066 Gardenia Loop Hercules 94547-2621 Hercules-1301 RESI $1,104,000 5 4 2803 0.0871 33 40955207 Closed 115 Boxwood Ln Hercules 94547 Hercules-1302 RESI $960,000 4 3 2108 0.1258 34 40958189 Closed 130 Copper Beech Gln Hercules 94547 Hercules-1302 RESI $860,000 4 3 2257 0.0792 35 40958929 Closed 169 Copper Beech Gln Hercules 94547 Hercules-1302 RESI $990,000 5 3 2418 0.0890 36 81855250 Closed 1150 Waverly Cir Hercules 94547 Hercules-1301 RESI $870,000 4 3 2400 0.0933 37 81857555 Closed 1970 Tioga Loop Hercules 94547 Hercules-1301 RESI $901,000 4 4 2419 0.0444 38 40962687 Closed 515 Laurelwood Dr Hercules 94547 Hercules-1302 RESI $900,000 4 3 2400 0.1088 39 40963160 Closed 202 Stone Pine Ct Hercules 94547 Hercules-1302 RESI $845,000 3 3 2053 0.0997 Map data ©2021 Google
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ATTACHMENT 5
# Listing # Status Address City ZIP Code Area Type Price Beds Baths Sq Ft Acres 40 40965281 Closed 1027 Gardenia Loop Hercules 94547 Pinole RESI $1,017,000 4 3 3034 0.0781 41 40966833 Closed 145 Driftwood Cv Hercules 94547 Hercules-1302 RESI $1,000,000 5 3 2730 0.0918 42 321088115 Closed 109 Watermark Ter Hercules 94547-2648 Hercules-1301 RESI $1,250,000 5 5 3489 0.1301 Presented By: Eric Segal Lic: AG026558 / Seevers Jordan Ziegenmeyer Phone: 415-435-3883 Lic:
Copyright: 2021 by San Francisco Assoc of REALTORS - All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy.
Copyright ©2021 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
DRAFT
ATTACHMENT 5
Statistical Summary
Criteria
Contains selected listings. Map Draw 1 Shape Property Types RESI, RESL, INCP Status Closed (1/1/2021 or after) Year Built 2000 or more Listing Statuses
Active Pending Closed Other Total
0 0 42 0 42
Aggregate Statistics
Minimum Average Median Maximum Tot. Val.
Bedrooms 0 4 4 6
Bathrooms 0 3 3 5
Square Feet 2,053 3,208 2,803 17,652
Approx Lot Size Acres 0.04 0.13 0.11 0.62
Approx Lot Size SqFt 1,885 5,839 4,905 27,007
Year Built* 2000 2007 2004 2021
Listing Price $750,000 $1,005,729 $936,250 $2,450,000
Listing Price Per Sq. Ft. $138.79 $339.05 $352.95 $427.00 Lot Size Listing Per Acre $2,889,480.00 $9,335,088.98 $8,226,635.60 $20,279,174.34 Closed Price $750,000 $1,065,009 $1,011,000 $2,400,000 $44,730,387 Closed Price Per Sq. Ft. $135.96 $360.41 $369.76 $488.00 Lot Size Closed Price Per Acre $3,383,160.00 $9,900,954.44 $8,834,288.25 $21,317,824.93 DOM 0 22 10 151
CDOM 0 23 10 151
*Calculations for this field only use listings with valid values; listings with blank or zero values are excluded DOM Statistics for Closed Listings
# of Listings % of Total SP % LP
0-30 Days 33 78 107.52
31-60 Days 5 11 99.10
61-90 Days 2 4 109.63
91-120 Days 1 2 101.01
120+ Days 1 2 97.96
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ATTACHMENT 5
# of Listings % of Total SP % LP
Totals/Averages 42 100 103.04
CDOM Statistics for Closed Listings
# of Listings % of Total SP % LP
0-30 Days 31 73.81 107.86
31-60 Days 7 16.67 99.87
61-90 Days 2 4.76 109.63
91-120 Days 1 2.38 101.01
120+ Days 1 2.38 97.96
Totals/Averages 42 100 103.27
Eric Segal
Seevers Jordan Ziegenmeyer
Phone: Primary:415-435-3883
Office: 415-435-3883
Email: [email protected]
Lic: AG026558 Office Lic.:
Copyright: 2021 by San Francisco Assoc of REALTORS - All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy.
Copyright ©2021 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
Generated: 12/13/2021 10:29 AM
DRAFT
ATTACHMENT 5
Map Report
Listings
# Listing # Status Address City ZIP Code Area Type Price Beds Baths Sq Ft Acres 1 40903570 Closed 14 Goree Ct Martinez 94553 Martinez RESI $640,000 3 2 1679 0.2124 2 40934620 Closed 1241 Santa Fe Ave Martinez 94553 Martinez RESI $540,000 2 2 0.0918 3 40935099 Closed 113 Tierney Pl Martinez 94553 Martinez RESI $650,000 4 4 2065 4 40935929 Closed 516 Falling Star Dr Martinez 94553 Martinez RESI $670,000 3 3 1516 0.0644 5 421516446 Closed 965 Shadow Hill Martinez 94553-4849 Martinez RESI $718,000 3 3 1726 0.0672 6 40938863 Closed 221 Tierney Pl Martinez 94553 Martinez RESI $710,000 4 4 1874 7 40939073 Closed 4472 Actriz Pl Martinez 94553 Martinez RESL $3,100 4 3 1772 0.1377 8 40939250 Closed 527 Falling Star Dr Martinez 94553 Martinez RESI $775,000 4 3 2146 0.0682 9 40939485 Closed 12 Emshee Ln Martinez 94553 Martinez RESI $925,000 4 3 2661 0.1808 10 40941621 Closed 1147 Vine Ave Martinez 94553 Martinez RESI $850,000 4 3 2177 0.1217 11 40942523 Closed 117 Tierney Pl Martinez 94553 Martinez RESI $701,000 4 4 2074 12 81837268 Closed 810 Waterbird Pl Rio Vista 94571 Rio vista RESI $385,000 2 2 1231 0.1211 13 40944787 Closed 800 Little Valley Rd Martinez 94553 Martinez RESL $3,000 3 3 1516 0.0683 14 40944298 Closed 258 Ladybug Ln Martinez 94553 Martinez RESI $760,000 3 3 1516 0.0483 15 40945544 Closed 602 Falling Star Dr Martinez 94553 Martinez RESI $698,000 3 3 1516 0.0681 16 40945771 Closed 1131 Vine Ave Martinez 94553 Martinez RESI $830,000 3 3 2055 0.1217 17 40945340 Closed 16 Emshee Ln Martinez 94553 Martinez RESI $975,000 5 3 2976 0.1808 18 40946705 Closed 836 Little Valley Rd Martinez 94553 Martinez RESI $725,000 3 3 1581 0.0593 19 40947505 Closed 2220 Pomona Ave Martinez 94553 Martinez RESI $735,000 3 3 1726 0.1012 20 40948938 Closed 4424 Actriz Pl Martinez 94553 Martinez RESI $777,000 4 3 1772 0.1395 21 40952119 Closed 1355 Plaza Dr Martinez 94553 Martinez RESI $762,500 3 2 1647 0.2553 22 421553575 Closed 1161 Plaza Dr Martinez 94553 Martinez RESI $720,390 3 2 1277 0.1138 23 40952443 Closed 129 Ladybug Ln Martinez 94553 Martinez RESI $790,000 3 3 1516 0.0731 24 40951478 Closed 611 Falling Star Dr Martinez 94553 Martinez RESI $700,000 3 3 1572 0.0526 25 40954999 Closed 977 Shadow Hill Dr Martinez 94553 Martinez RESI $840,000 3 3 1726 0.1001 26 40955800 Closed 1040 Delacy Ave Martinez 94553 Martinez RESI $852,000 5 3 2584 0.1851 27 40957266 Closed 808 Little Valley Rd Martinez 94553 Martinez RESI $740,000 3 3 1581 0.0647 28 40959638 Closed 140 Silva Ct Martinez 94553 Martinez RESI $1,125,000 4 3 2929 0.2904 29 40960558 Closed 4536 Actriz Pl Martinez 94553 Martinez RESI $785,148 4 3 1771 0.1907 30 40961212 Closed 801 Tierney Pl Martinez 94553 Martinez RESI $714,688 4 4 2073 31 40961273 Closed 4456 Actriz Pl Martinez 94553 Martinez RESI $930,000 5 4 3118 0.2134 32 40961835 Closed 926 Shadow Hill Dr Martinez 94553 Martinez RESI $815,000 4 3 2146 0.0715 33 40962370 Closed 615 Falling Star Dr Martinez 94553 Martinez RESI $735,000 3 3 1572 0.0526 34 40962970 Closed 301 Tierney Pl Martinez 94553 Martinez RESI $710,000 4 4 2073 35 40964907 Closed 177 Ladybug Ln Martinez 94553 Martinez RESI $725,000 3 3 1516 0.0445 36 40965107 Closed 1035 Sierra Ave Martinez 94553 Martinez RESI $795,000 3 3 1825 0.1205 37 40967558 Closed 252 Explorer Way Martinez 94553 Martinez RESI $910,000 4 3 2371 0.2787 38 40967896 Closed 29 Ladybug Ct Martinez 94553 Martinez RESI $749,900 3 3 1582 0.0480 39 40969379 Closed 157 Ladybug Ln Martinez 94553 Martinez RESI $795,000 3 3 1582 0.0552 Map data ©2021 Google
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ATTACHMENT 5
Presented By: Eric Segal Lic: AG026558 / Seevers Jordan Ziegenmeyer Phone: 415-435-3883 Lic:
Copyright: 2021 by San Francisco Assoc of REALTORS - All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy.
Copyright ©2021 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
DRAFT
ATTACHMENT 5
Statistical Summary
Criteria
Map Draw 1 Shape Property Types RESI, RESL, INCP Status Closed (1/1/2021 or after) Year Built 2000 or more Listing Statuses
Active Pending Closed Other Total
0 0 39 0 39
Aggregate Statistics
Minimum Average Median Maximum Tot. Val.
Bedrooms 2 3 3 5
Bathrooms 2 3 3 4
Square Feet 1,231 1,896 1,726 3,118
Approx Lot Size Acres 0.04 0.12 0.07 0.29
Approx Lot Size SqFt 1,938 5,205 3,184 12,651
Year Built* 2002 2011 2011 2019
Listing Price $3,000 $695,218 $699,950 $979,000
Listing Price Per Sq. Ft. $1.75 $375.48 $388.02 $508.22 Lot Size Listing Per Acre $22,506.00 $7,657,069.93 $5,880,600.00 $15,731,498.45 Closed Price $3,000 $724,737 $740,000 $1,125,000 $28,264,726 Closed Price Per Sq. Ft. $1.75 $392.50 $403.89 $564.13
Lot Size Closed Price Per Acre $22,506.00 $7,991,060.32 $6,331,757.14 $16,295,665.63 DOM 3 16 11 68
CDOM 3 16 11 68
*Calculations for this field only use listings with valid values; listings with blank or zero values are excluded DOM Statistics for Closed Listings
# of Listings % of Total SP % LP
0-30 Days 35 89 104.70
31-60 Days 3 7 99.34
61-90 Days 1 2 98.39
91-120 Days 0 0
120+ Days 0 0
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ATTACHMENT 5
# of Listings % of Total SP % LP
Totals/Averages 39 100 100.81
CDOM Statistics for Closed Listings
# of Listings % of Total SP % LP
0-30 Days 34 87.18 104.80
31-60 Days 4 10.26 99.53
61-90 Days 1 2.56 98.39
91-120 Days 0 0.00
120+ Days 0 0.00
Totals/Averages 39 100 100.91
Eric Segal
Seevers Jordan Ziegenmeyer
Phone: Primary:415-435-3883
Office: 415-435-3883
Email: [email protected]
Lic: AG026558 Office Lic.:
Copyright: 2021 by San Francisco Assoc of REALTORS - All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy.
Copyright ©2021 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
Generated: 12/13/2021 11:05 AM
DRAFT
ATTACHMENT 5
19 Appraiser Qualifications
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ATTACHMENT 5
20 Eric Segal, MAI
Integra Realty
Resources ‐ Sacramento
irr .com
T 916‐435‐3883
F 916‐435‐4774
590 Menlo Drive
Suite 1
Rocklin, CA 95765
Experience
Mr . Segal is a Certified General real estate appraiser and holds the Appraisal Institute's MAI designation. In 1998, Mr . Segal began his career in real estate as a research analyst/appraiser trainee for Richard Seevers and Associates. By 1999, he began writing narrative appraisal reports covering a variety of commercial properties, with an emphasis on residential master planned communities and subdivisions. Today, Mr . Segal is a partner in the firm and is involved in appraisal assignments covering a wide variety of properties including office, retail, industrial, multifamily housing, master planned communities, and specializes in the appraisal of Mello‐Roos Community Facilities Districts and Assessment Districts for land‐secured municipal financings, as well as multifamily developments under the U.S. Department of Housing and Urban Development’s Multifamily Accelerated Processing (MAP) Guide. He has developed the experience and background necessary to deal with complex assignments covering an array of property types, with a particular focus on urban redevelopment in the cities of San Francisco, Monterey, Alameda and San Mateo. He has developed the experience and background necessary to deal with complex assignments covering an array of property types. Eric is currently Managing Director of the Integra‐San Francisco office and Senior Managing Director of the Integra‐Sacramento office.
Professional Activities & Affiliations
Appraisal Institute, Member (MAI) Appraisal Institute, January 2016 Licenses
California, Certified General, AG026558, Expires February 2023 Nevada, Certified General, A.0207666‐CG, Expires January 2023 Arizona, Certified General, CGA ‐ 1006422, Expires January 2022 Washington, Certified General, 20100611, Expires June 2023 Education
Academic:
Bachelor of Science in Business Administration (Concentrations in Finance and Real Estate & Land Use Affairs), California State University, Sacramento
Appraisal and Real Estate Courses:
Uniform Standards of Professional Appraisal Practice
Appraisal Principles
Basic Income Capitalization
Highest & Best Use and Market Analysis
Advanced Income Capitalization
Report Writing and Valuation Analysis
Self‐Storage Economics and Appraisal Seminar
Appraisal Litigation Practice and Courtroom Management
Hotel Valuations: New Techniques for today’s Uncertain Times Computer Enhanced Cash Flow Modeling
Advanced Sales Comparison & Cost Approaches
Advanced Applications
Supervisor‐Trainee Course for California
[email protected] ‐ 916‐435‐3883 x228
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ATTACHMENT 5
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ATTACHMENT 5
21 Sara Gilbertson
Integra Realty
Resources ‐ Sacramento
irr .com
T 916‐435‐3883
F 916‐435‐4774
590 Menlo Drive
Suite 1
Rocklin, CA 95765
Experience
Ms. Gilbertson is a licensed appraiser with Integra Realty Resources, a real estate appraisal firm that engages in a wide variety of real estate valuation and consultation assignments. She joined the firm in April 2011 after completing her bachelor's degree at California State University, Sacramento and has been writing narrative appraisal reports for a variety of commercial properties. She has experience in writing narrative appraisal reports covering a variety of commercial properties, as well as special use properties including self storage facilities, hotels and mobile home parks. She also specialized in the appraisal of residential master planned communities and subdivision, as well as Mello Roos and Assessment Districts for land secured municipal financings. Ms. Gilbertson has developed the experience and background necessary to deal with complex assignments covering an array of property types.
Licenses
California, Certified General Real Estate Appraiser, 3002204, Expires May 2022 Education
Academic:
Bachelor of Science in Business Administration (Concentration in Real Estate and Land Development), California State University, Sacramento
Appraisal Institute Courses:
Basic Appraisal Principles
Basic Appraisal Procedures
Uniform Standards of Professional Appraisal Practice
Real Estate Finance and Statistics and Valuation Modeling Sales Comparison Approach
Report Writing and Case Studies
Market Analysis and Highest and Best Use
Site Valuation and Cost Approach
Basic Income Capitalization
4‐Hour Federal and California Statutory and Regulator Laws Quantitative Analysis
Business Practices and Ethics
Advanced Market Analysis and Highest and Best Use
Advanced Income Capitalization
Advanced Concepts and Case Studies
7‐Hour National USPAP Update Course
[email protected] ‐ 916‐435‐3883 x248
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About IRR
Integra Realty Resources, Inc. (IRR) provides world‐class commercial real estate valuation, counseling, and advisory services. Routinely ranked among leading property valuation and consulting firms, we are now the largest independent firm in our industry in the United States, with local offices coast to coast and in the Caribbean.
IRR offices are led by MAI‐designated Senior Managing Directors, industry leaders who have over 25 years, on average, of commercial real estate experience in their local markets. This experience, coupled with our understanding of how national trends affect the local markets, empowers our clients with the unique knowledge, access, and historical perspective they need to make the most informed decisions.
Many of the nation's top financial institutions, developers, corporations, law firms, and government agencies rely on our professional real estate opinions to best understand the value, use, and feasibility of real estate in their market.
Local Expertise...Nationally!
irr.com
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