Reulti Report Example

EXECUTIVE SUMMARY

2271WestlandAVEisa1,276sq.ft.homelocatedona8,300sq.ft.lotbuiltin1955.Thispropertyprovidesan interestingvalue-addopportunitywithonly15.37%ofthelotsizebeingutilizedandhasamaxbuildscoreof7.3. Accordingly,theREultisystemestimatethatyoucouldbuild a4,648sq.ft.oradd3,372sq.ft.totheexistingstructure. Newlyrenovatedhomesarepopularinthisareawithcompsaroundthe $850PPSF.ModernTraditionaland Californianstyleisapopularinthisneighborhood.

TheREultiReporthasestimatedanewconstructiondevelopmentbuildinga4000sq.ft.andsellingitfor$850PPSF,or $3,200,000,willearnanapproximate9.0%ROIanda6.1%IRR.whichiswellbelowthenormalprofitmarginsforthe developerandtherehasn'tbeenmanyhomessoldover$2,800,000inthelast12months,sopushingapropertytothe maxSQFTisnotrecommendedduetotherenotbeingmany4000SFTbuildingsinthearea.

2.TheREultiReporthasestimatedarenovationprojectisbetterandcouldearna12.0%ROIanda10.8%IRRby adding1,000asamastersuiteanda1200 sq.ftADUtotherearofthepropertyandsellingthepropertyfor$850 PPSF,orevenatadmorependingthemarketconditionin12months.

AREA OVERVIEW

Ifyou’relookingforthenexthotspotinSanDiego,NorthParkistheplacetobe.Thisdiversedistrictisoneofthe area’srapidlyrisingartisticandculturalcenters.Whetheryoulikeahipstervibeordiverseexperiencesandattractions, thereissomethingforeveryone.NotonlyisNorthParkconvenienttotheGreaterSanDiegoarea,butthislaid-back neighborhoodhasanabundanceofcasualdiningoptions,coffeeshops,activitiesandshopping.Itsproximitymakesit anidealdestinationforaweekend,daytriporashomebaseforalongerstay

CloselysituatedeastofHillcrestandnortheastofBalboaPark,thiseclecticneighborhoodstretchesfromInterstate8,at thesouthendofMissionValley,almosttoRoute94,theMartinLutherKingJrFreeway.Interstate805andI-15run alongitseasternborder.Inadditiontothefreeways,UniversityAveandElCajonBlvdaretheprimaryeast-west surfacestreets,makingiteasytogetaround.

Ifyouwanttostaynearby,TheLafayetteHotel,SwimClub&Bungalowsisthearea’siconicboutiquehotel.Quaint B&BsandpopularchainhotelsinandaroundthedistrictmakestayingandplayinginNorthParkeasy

EXISTING PROPERTY

2271WestlandAVEhas3bedrooms,2bathrooms,builtin1955andislocatedintheneighborhood.ItiszonedRS-17. 2271WestlandAVEisaveryveryslighthillsidepropertywithadownwardorientation.Thepropertyfaceswestfrom thefrontdoorandisidealtoextenuatetheupperlevelduetothepossibleviews.

PROJECT DESCRIPTION

Addingasecondstorymastersuiteofaround1,000sqftwhichwillextenuatetheoceanviewsandaddanallround betterlivingarea.

AnADUisessentialforthereadofthepropertywhichcanbringinextraincome.

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2271WESTLANDAVE SANDIEGO92104

DwellingBuiltin1955,Area:1276SqFt,Bedrooms:3,Bathrooms:2

CurrentPropertySpecifications

Thisreportisintendedtoprovideinformationforreferenceonly.Itisnotmeant,norshoulditbeusedasareplacementfortheprofessional servicesofanarchitect,surveyor,orengineer.Oursystemreliesonpubliclyavailablepropertydatainadditiontoalgorithmsbuiltby REULTI,LLC.Thedatacansometimesbeoutofdateorotherwiseinaccurate.Ouralgorithmscanalsocontainerrorsthatproducefalse results.Becauseofthis,itisincumbentontheusertoverifytheinformationprovidedonthereportsbeforeactingonit.

SlopeAnalysis

Thisreportisintendedtoprovideinformationforreferenceonly.Itisnotmeant,norshoulditbeusedasa replacementfortheprofessionalservicesofanarchitect,surveyor,orengineer.Oursystemrelieson publiclyavailablepropertydatainadditiontoalgorithmsbuiltbyREULTI,LLC.Thedatacansometimes beoutofdateorotherwiseinaccurate.Ouralgorithmscanalsocontainerrorsthatproducefalseresults. Becauseofthis,itisincumbentontheusertoverifytheinformationprovidedonthereportsbeforeacting onit.

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ACQUISITION COMPS Neighborhood

Acquisition Comps for Homes with Similar Style, Size and Age

Single Family - Pending/Under Contract

EXIT COMPS

Single Family - Pending/Under Contract

Neighborhood Exit Comps for Homes with Similar Style, Size and Age

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DRILLED

DOWN COMPARISONS FOR SIZE, LAND AND HOUSE

Sold 2236-38 29th, North Park, San Diego, CA, 92104

Single Family

Beds

Baths

LotSize 5,494Sqft

SP $2,350,000

Area 2,994Sqft

DOM 506

ListPricePerSqft 785

Remarks: A Great opportunity in this completely renovated 3 unit property (2236 A & B and 2238) located minutes from downtown and within walking distance of excellent restaurants and shops There is not one component of this property that has not been redone, from the decks and new windows overlooking the Balboa golf course and downtown San Diego to the exquisite finishes put together by a very talented interior designer, this property is a "new build with an old soul" Everything has been replaced or refurbished from the plumbing, electrical, flooring, heating and air systems, to the roof, decks, windows and everything in between You really should see to appreciate Please see supplemental remarks for a more detailed list of the properties' upgrades All work was permitted and inspected by the city of San Diego

Sold 3021 28th Street, North Park, San Diego, CA, 92104

Single Family

Beds 5

Baths 3

LotSize 6534Sqft

SP $2,600,000

Area 2844Sqft

DOM 298

ListPricePerSqft 914

Remarks: The Prestigious 28th Street of North Park With Stunning Views of Balboa Golf Course & Downtown Skyline The historically designated Jack Rosenberg House is a stucco Spanish Eclectic built in 1927 with Mills Act designation that provides significant property tax savings Just a short stroll to Summer Concerts at Bird Park and to eateries/shops along 30thStreet and University Avenue A Spanish charmer featuring2,298sf living space, 3 bed, 2 bath on the main level & a master suite with office upstairs Well-kept old charm hardwood flooring throughout, arched wood windows, doorframes, doors, picture rails & stained glass windows Off the alley is a 2-car garage + an office of 546sf for a potential ADU Office is also on raised foundation for ease of plumbing for a bath & kitchen A delightful lushly landscaped front yard and a newly finished serene backyard detailed w/ pavers chiminea fire pit & a designer-rusted privacy screen fo

3127 Kalmia, San Diego, CA, 92104

Single Family

Beds 6

Baths 3

LotSize 6,203Sqft

SP $2,398,000

Area 3224Sqft

DOM 134

ListPricePerSqft 744

Pending

Remarks: Stunning historically designated Craftsman gem with Colonial Revival influences in the coveted Burlingame Historic District First time on the market since 1966! Beautifully appointed with extraordinary period windows, pocket doors, formal entry, spacious living, dining & family rooms large eat-in kitchen with Viking stove Lovely built-in gumwood cabinetry throughout, traditional fireplace & front porch and, a 2nd story walk-out balcony Charming light-filled study/library with French Doors that open to private gardens laundry room off the kitchen and finished attic/bonus game room with large closet & skylight Well-located, just a short walk to shops and restaurants & close to Balboa Park & Golf Course Mills Act Historical Resources Site Number 526-17

Broker/Agentdoesnotguaranteetheaccuracyofthesquarefootage,lotsizeorotherinformationconcerningtheconditionsorfeaturesofthepropertyprovidedbytheselleror obtainedfromPublicRecordsorothersources.Buyerisadvisedtoindependentlyverifytheaccuracyofallinformationthroughpersonalinspectionandwithappropriate professionals.VESTAPLUS™Copyright©2019byTheMLS™.Informationdeemedreliablebutnotguaranteed.Presentedby:MauriceWoolfCALDRE#01959295

NewBuildAnalysisdataismissing

This report is a basic price overview and price could change pending your own independent findings

This Reulti Report is for estimating purposes only No guarantee is made nor implied as to the accuracy of formulas therein Use of this file is at the users own risk By using this file, users and parties associated with users of this file agree to hold harmless the creator and all parties associated with the creator of this file

Pleaseseetermsofuseonpage13of13 REULTIREPORTfor2271WestlandAVE

EXIT PLANNING & FINANCIALS

This report is a basic price overview and price could change pending your own independent findings

This Reulti Report is for estimating purposes only No guarantee is made nor implied as to the accuracy of formulas therein Use of this file is at the users own risk By using this file, users and parties associated with users of this file agree to hold harmless the creator and all parties associated with the creator of this file

Pleaseseetermsofuseonpage13of13 REULTIREPORTfor2271WestlandAVE

CONCLUSIONSUMMARY

ThisREultiReportusesafinancialanalysis-basedonindustrystandardsfortimeandcost estimations,referencescityand/orcountycodesandallowances,andanalyzesmarketcomps toapproximatethebestvalue-addstrategyfor2271WestlandAVE.Basedonthese estimations,TheReultiReportsuggeststhatavalue-adddevelopmentstrategywouldinclude thefollowingsteps:

1 Addingasecondstorymastersuiteofaround1,000sqftwhichwillwiththeproperty oceanviewsandaddanallroundbetterlivingarea.

2 AnADUisessentialfortheemptyrearofthepropertywhichcanbringinextraincome.

Maurice Woolf CEO

DRE#: 01951985

Email: Maurice@californianestates.com

Phone Number: (323) 303-4491

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Disclaimer

The“REultiReport”isabasicpriceandmarketoverviewforproperties,theirapproximatemaximumbuild potentialandtheprojectedvalueofafuturedevelopedpropertybasedonthecurrentmarket. Propertyevaluationsmayvarydependingonthesize,shapeofthelot,maximumbuildablesquarefootageand marketcomparablesofsimilarproperties,etc.. Outsidefactors,suchasbutnotlimitedtozoningchanges,land useregulationmodifications,marketconditionsorotherspecificcharacteristicsofapropertycaneffecta property’sdevelopmentopportunityandit’sfinancialprojections. Aproperty’sevaluationandprojectedROI couldchangependingindependentfindingsand/oranindividual’sdecisionsonprojecttype,buildcosts,building timelines,etc.

Pastperformancemaynotbeindicativeoffutureresults. Anyusershouldtoassumethatthefuture performanceofanyspecificinvestmentorinvestmentstrategywillbeprofitableorequaltocorrespondingpast performancelevels. Eachinvestmentdecisionyouareshouldbedeterminedwithreferencetoallthespecific informationavailableforsuchinvestment(notlimitedtotheREultiReport),andnotbasedonthesuccessof pastrecommendations.

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