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Appraisal: APN 053-182-030, S.E. Corner of Maple & Lathrop Streets, Redwood City, Calif.Page 2 <br />2025CNA112 <br />It is my understanding that the intended use/user of this appraisal is for the <br />exclusive use of the Successor Agency of the City of Redwood City for assistance <br />in negotiating the disposition of the subject parcel.This appraisal report should <br />not be used or relied upon by any other parties for any reason. <br />D. Report Format and Scope of Work <br />This report is intended to satisfy the requirements of USPAP Standards Rule 2-2 <br />as a real property appraisal presented in an Appraisal Report format. <br />The scope of work performed within this Appraisal Report is to utilize the Sales <br />Comparison Approach to value in accordance with the Uniform Standards of <br />Professional Appraisal Practice (USPAP) to arrive at the fair market value <br />conclusion indicated as the purpose of this appraisal and is to be based on the <br />existing zoning. <br />Specific steps include: a personal inspection of the subject property; a tour of the <br />surrounding and nearby area of the subject property; a review of the maps and <br />reports depicting the location and size of the subject property; collection of <br />descriptive information for the subject property including, but not limited to, <br />zoning data; and the research and analysis of comparable data to arrive at the <br />value indication as put forth in this report. The sources of information used in this <br />report may have included: appraiser files; real estate brokers and agents; real <br />estate developers; property owners; CoStar; DataTree, MLS; local government <br />agencies including planning departments; and other market participants. <br />E. Property Rights Appraised <br />Fee simple property rights are appraised.Fee Simple Estate is defined as <br />absolute ownership unencumbered by any other interest or estate, subject only to <br />the limitations imposed by the governmental powers of taxation, eminent domain, <br />police power, and <br />1 <br />F. Date of Inspection/Valuation/Report <br />The appraiser made a personal inspection of the subject property on January 26, <br />2024. A personal inspection of the subject property from the adjoining rights of <br />way was performed again on April 30, 2025, which is the date of valuation. <br />1 Appraisal Institute, The Dictionary of Real Estate Appraisal,7th ed. (Chicago: Appraisal Institute, 2022) <br />8.K. - Page 48 of 105 <br />298