A Downtown Building Rebuilt
By: Cameron Scheidt
When looking at the Mark Massie appraisal of the Moradian
Building it seems like not much has changed in the field of appraisal. The only thing that has seemed to change is
our accuracy and vastness of data. There
still needs to be an understanding of the underlying skills of appraising in
order to arrive and an accurate valuation.
Massie appraised the Moradian Building located at 1129 Van Ness in the
year 1961. The reason for the valuation
was to get a market value of the property as of December 1, 1961.The value
state in the report for the property was $75,000. Using the income approach, cost approach, and
a sales approach Massie was able to derive this number.
This building was a very small building only being 50ft by
150ft. The building was also one story
and was built in 1895 having had the latest addition in 1922. The building is brick with a brick foundation
and also has a dirt floor basement. In
1961 this was one of the oldest structures still standing and would be required
to be completely remodeled in order to meet the Uniform Business Code. When
going through the valuation I noticed that the city data portion was omitted at
the suggestion of the instructor. I do
not know what this
The building has since been torn down and is now
occupied by the Fresno County Office of Education. This building today would not be terribly
difficult to appraise because of the surrounding buildings and the income that
they generate. An appraiser today could
use the income approach and any comparable sales comps to derive the value.
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