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ATTACHMENT 3 <br />DESCRIPTION OF THE LARGER PARCEL <br />Ownership: Rim Pacific Investors Portofino, LLC <br />Location: 2702 N. Bristol Street, Santa Ana, California 92709 <br />Assessor's Parcel No.: 002-261-29 <br />Date of Value: March 1, 2021 <br />Property Rights Appraised: Fee simple <br />Site Area: Approximately 81,893 square feet, or 1.88 acres, according to <br />the Assessor's Map. <br />Zoning: The parcel is zoned SD-27 a Specific Development designation <br />allowing for a development as described by the document <br />approved by City Council in 1985. The development allows for <br />84 residential units and sets forth details as to the required unit <br />breakdown, landscaping, and building height and setbacks. <br />Present Use: Multi -family residential <br />Highest and Best Use: The highest and best use is the existing use. <br />Improvements: It is improved with a 64-unit apartment complex. It was <br />constructed in 1986 and is in good condition for its age. <br />Description of Acquisition: The project as proposed includes two acquisitions: one fee <br />acquisition, and one temporary construction easement. <br />According to the engineering map and legal description <br />provided, the fee acquisition will be 1,266 square feet, and the <br />proposed temporary construction easement will encumber 948 <br />square feet. The temporary construction easement duration is <br />reported to be twelve months. The acquisitions are located <br />along the eastern border of the property along N. Bristol Street. <br />Page 2 <br />