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VALUATION ANALYSIS (Continued) <br />SALES COMPARISON APPROACH: (Continued) <br />Land Value: (Continued) <br />Sales Comparison Analysis: (Continued) <br />application for a change of zoning was processed during <br />escrow to allow for a multiple family residential development <br />comprising 12 dwelling units. The developable density reflects <br />one unit per 1,641 square feet of land area. The parcel has an <br />interior (versus corner) location, rectangular land configuration, <br />effectively level topography, and contains 19,688 square feet of <br />land area. <br />The purchase price was $950,000, all cash and was entitled for <br />development upon closing of escrow. The property reportedly <br />sold at a discount due to a joint venture agreement between the <br />buyer and seller. The deed recorded September 9, 2016 as <br />Document No. 434671. Further details regarding the <br />transaction are summarized as follows: <br />Grantor: SMRS Properties, LLC <br />Grantee: Encore -Hewes, LLC <br />Assessor's Parcel No.: 392-181-21 <br />Data E <br />Located on the north side of Kermore Lane, beginning 172 feet <br />west of Keenan Place, Stanton. The site is improved with an <br />older residential development representing relatively nominal <br />value in a highest and best use context. The site can reportedly <br />accommodate five dwelling units reflecting a developable <br />density of one unit per 4,083 square feet of land area. The <br />parcel has an interior (versus corner) location, rectangular land <br />configuration, effectively level topography, and contains 20,413 <br />square feet of land area. <br />The property was originally offered for sale at $730,000, and <br />was on the market 22 days. The purchase price was $730,000, <br />all cash. The deed recorded February 16, 2017 as Document <br />No. 104394. Further details regarding this transaction are <br />summarized as follows: <br />LIDGARD AND A.SSOC:IATES <br />APPRAISERS -CONSULTANTS <br />13 <br />20D-51 <br />