RRA - Item 2 - Authorization to obtain an appraisal of commercial property located at 2542-2606 San Gabriel - Internal Files Box 069Ok
ENCY AGENDA
JAN 111LQP94F
ROSEMEAD REDEVELOPMENT AGENCY
TO: HONORABLE CHAIRMAN
AND MEMBERS
ROSEMEAD REDEVELOPMENT AGENCY
FROM: FRANK G. TRIPEPI, EXECUTIVE DIRECTOR
DATE: JANUARY 6, 1994
RE: AUTHORIZATION TO OBTAIN AN APPRAISAL OF COMMERCIAL PROPERTY
LOCATED AT 2542-2602 SAN GABRIEL BOULEVARD
Attached for your consideration is a letter from Mr. John Hui
offering.the aforementioned property to the Agency for a value of
$2.3 million dollars. I have also attached a copy of their appraisal
report.
Staff contacted several appraisers who provided estimates in the
range of $4500-$10,500 for a full narrative appraisal.
It is recommended that the Rosemead Redevelopment Agency authorize
staff to obtain an appraisal in an amount not to exceed $6,000.
FGT:js
Attachment
A:011194j(2)
ITEM No. A
6838 VALLEY BLVD., ROSEMEAD, CA 91770 • (818) 288-6671 • Telecopier 8183079218
ALL AMERICAN LAND CORP.
DEC. 27, 1993
CITY OF ROSEMEAD
8838 VALLEY BL.
ROSEMEAD,CA. 91770
ATTN.CITY MANAGER/REDEVELOPMENT AGENCY
RE; 2542-2602 SAN GABRIEL BL.
DEAR MR. TRIPEPI•
I'M THE OWNER OF THE ABOVE STATED PROPERTY'IN THE REDEVELOPMENT
AREA. THE PROPERTY IS APPROX. 100,000 SQ. FT. WITH APPROX. 45,000 SQ.
FT. BLBG. ALL LEASES WILL BE EXPIRES IN SEPT. 1994 EXCEPT THE 42,000
SQ. FT. TILT UP BLDG WHICH IS VACANT.
I HEREIN OFFER THE ABOVE MENTIONED PROPERTY TO THE AGENCY TO
PURCHASE AT APPRAISAL VALUE FOR $2.3 MILLION. (REPORT ENCLOSED)
PLEASE RETURN WITH A DEFINITE ANSWER BY FEB.151994. OR SOONER.
AND I DO INTEND TO CLOSE ESCROW IN A TIMELY FASIkfiN.
PLEASE DO NOT HASITATE TO CALL ME IF THERE IS ANY QUESTIONS.
YOUR TRUELY
H
O
1680 So Garfield Ave., Ste. 2097," Alhambra, CA 91801
Tel: (818)-570-8878 Fax: (818)-308-0003 Contractor Lie #628300