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EXECUTIVE OLIMMARY <br />PURPOSE OF APPRAISAL: Market value of the unencumbered fee simple <br />interest in the subject property based on its the <br />hypothetical condition that the site is fully entitle <br />for the development of a 7 -unit residential <br />townhouse complex as proposed. <br />CLIENT IDENTIFICATION: City of Santa Ana <br />PROPERTY ADDRESS: N651-657 East Washington Avenue <br />Santa Ana, California <br />APPARENT VESTEE: <br />Pacific Legacy Real Estate & Investments, Inc. <br />SITE DESCRIPTION: <br />Land area: <br />26,598± square feet, per architectural plans/ - <br />specifications prepared by Habitat for Humanity <br />dated December 29, 2016. <br />Land shape: <br />Irregular land configuration. <br />Zoning: <br />UN -2 (urban neighborhood). <br />Soil contamination: <br />None known or observed by appraiser, howev- <br />er, a comprehensive soil study was not provid- <br />ed for review. The subject property has been <br />appraised herein as though free of soil contam- <br />inants, if any. <br />Present use: <br />Vacant land lot <br />Highest and best use: <br />Residential development. <br />Assessor's No.: <br />398-150-02 & 398-152-16 <br />EXISTING IMPROVEMENTS: There are no building or other on-site im- <br />provements located within the boundaries of <br />the subject property which contribute signifi- <br />cant monetary value in a highest and best use <br />context. <br />DEVELOPMENT PLANS: The property owners are nearing the end of the <br />entitlement process for a 7 -unit townhouse de- <br />velopment on the subject property. The pro- <br />posed unit mix includes five 2-bedroom/3- <br />bathroom dwelling units and two 3-bedroom/3- <br />bathroom units ranging in size from 883 to <br />LIDGARD AND ASSOCIATES <br />APP RA IS RMS -CON S U LTAN'rS <br />1 <br />20D-15 <br />