HomeMy WebLinkAbout760416.tiff L 7!(NI 1 Recorded at. o'clock...6 M., JUL. 1976
Reception No 93264.. S. LEE-SHOW, JP..--.....Recorder.
r
1 -
THIS DEED, Made this 15th day of June , 19 76
between Raymond and Isabel Ruiz, husband and wife,
State Documentary Fee
Dale JUL 91976
..,r of the $..__ S....: a�-------
Weld
.p County of and State of Colorado, of the first part, and
c.t The County of Weld
L l
of the County of Weld and State of
.J
Colorado,of the second part:
n
WITNESSETH, That the said part iesof the first part,for and in consideration of the sum of
,..1 TEN AND NO/100 DOLLARS
—` to the said part ies of the first part in hand paid by said party of the second part, the receipt whereof is
hereby confessed and acknowledged, ha ve granted, bargained,sold and conveyed,and by these presents do
grant, bargain, sell, convey and confirm, unto the said party of the second part, its heirs and assigns for-
ever, all the following described lot or parcel of land,situate,lying and being in the
County of Weld and State of Colorado, to wit:
.0
!;- Lot Seven (7) in Block Two (2) , Burger
$ and Fry's Subdivision, a subdivision of t�
_3 the City of Greeley, Weld County, Colorado.
Ob fla-
also known as street and number
TOGETHER with all and singular the hereditamenta and appurtenances thereto belonging, or in anywise
appertaining, and the reversion and reversions, remainder and remainders, rents, issues and profits thereof, and all
the estate, right, title, interest, claim and demand whatsoever of the said part ies of the first part, either in law
or equity, of, in and to the above bargained premises, with the hereditaments and appurtenances.
TO HAVE AND TO HOLD the said premises above bargained and described with the appurtenances, unto the
said party of the second part, its heirs and assigns forever. And the said part ies of the first part,
for them selves,thews, executors, and administrators, do covenant, grant,bargain,and agree to and
with the said part y of the second part, its heirs and assigns, that at the time of the ensealing and delivery
of these presents, are well seized of the premises above conveyed, as of good, sure, perfect, absolute and
indefeasible estate of inheritance, in law, in fee simple, and have good right, full power and lawful authority
to grant, bargain, sell and convey the same in manner and form as aforesaid, and that the same are free and clear
from all former and other grants, bargains, sales, liens, taxes, assessments and encumbrances of whatever kind or
naturesoever. Subject to easements, rights-of-way, restrictions and reservations
as now established of record.
and the above bargained premises in the quiet and peaceable possession of the said party of the second part,
its heirs and assigns against all and every person or persons lawfully claiming or to claim the whole
or any part thereof, the said part ies of the first part shall and will WARRANT AND FOREVER DEFEND.
IN WITNESS WHEREOF,the said part ies of the first part ha ve hereunto set theirhands
and seal s the day and year first above written.
/ X10 -G6,5(S (SEAL)
Raymond Ruiz
(SEAL)
lil F.
r
la-e4/ 11 Z` (SEAL)
'$PTE OF COLORADO, Isabel Ruiz
a VUTA/f
-tXb County of Weld
'�G,fprminginstrument was acknowledged before e tins L fteenth day of June
ci ,9,.`76 , y Rapglond and Isabel Ruiz, husba •d a of wife / /
>,'My commi expires My Oomm(s icn %xoites R^a„ g /,4 ,19 '- ' 3 e:.. y and o ficial seal.
OF 01\
Notary Public.
No.932. WARRANTY DEED.—For Photographic Recerd.Bradford Publishing Ca,18 stout Street,Denver,Colorado 5Se
Dr
O. ±( . . / \
, \ 6 »
\ « j$ ± 1-1
` d »
CID4 ; ` PZ
OD , ,.. ,4 ._0
/ / } _a k
•• / r" ! 2 \
! . ! � § CD
en
• \ : } , / CO� \ \ \ \
CD gi.
-..1
} C
It
i \ 0 t4
| } » } g
K- «` °
! _ \ 0.m P
.L
QV
7 7� C1
./yam* Recorded at o'clock.... M., 111N 2 3 976
! Reception No 92f99 S. LSE SHWA. Recorder.
I- �
THIS DEED, Made this 15th day of June , 19 76
between Raymond R. and Isabel C. Ruiz, husband and wife,
c7 of the
{ • County of Weld and State of Colorado, of the first part, and
('4 The County of Weld
of the County of Weld and State of
Colorado,of the second part:
a
WITNESSETH, That the said part iesof the first part,for and in consideration of the sum of
co
TEN AND NO/100 DOLLARS
to the said part ies of the first part in hand paid by said party of the second part, the receipt whereof is
o hereby confessed and acknowledged, have granted, bargained,sold and conveyed,and by these presents do
t.) grant, bargain, sell, convey and confirm, unto the said part y of the second part, its heirs and assigns for-
ever, all the following described lot or parcel of land,situate,lying and being in the
County of Weld and State of Colorado, to wit:
r"-) Lot Eight (8) in Block Two (2) , Burger and
Fry's Subdivision, a subdivision of the
City of Greeley, Weld County, Colorado.
also known as street and number
TOGETHER with all and singular the hereditament% and appurtenances thereto belonging, or in anywise
appertaining, and the reversion and reversions, remainder and remainders, rents, issues and profits thereof, and all
the estate, right, title, interest, claim and demand whatsoever of the said part ies of the first part, either in law
or equity, of, in and to the above bargained premises, with the hereditaments and appurtenances.
TO HAVE AND TO HOLD the said premises above bargained and described with the appurtenances, unto the
said party of the second part, its heirs and assigns forever. And the said parties of the first part,
for them selves, thfg', executors, and administrators, do covenant, grant, bargain, and agree to and
with the said party of the second part, its heirs and assigns, that at the time of the ensealing and delivery
of these presents, are well seized of the premises above conveyed, as of good, sure, perfect, absolute and
indefeasible estate of inheritance, in law, in fee simple, and have good right, full power and lawful authority
to grant, bargain, sell and convey the same in manner and form as aforesaid, and that the same are free and clear
from all former and other grants, bargains, sales, liens, taxes, assessments and encumbrances of whatever kind or
naturesoever. Subject to easements, rights-of-way, restrictions and reservations
as now established of record.
and the above bargained premises in the quiet and peaceable possession of the said party of the second part,
its heirs and assigns against all and every person or persons lawfully claiming or to claim the whole
or any part thereof, the said part ies of the first part shall and will WARRANT AND FOREVER DEFEND.
IN WITNESS WHEREOF, the said part ies of the first part ha ve hereunto set their hand s
and seal s the day and year first above written.
(SEAL)
Raymond R. Ruiz
*ma cet. (SEAL)
�Ne a. a: fie/ c �S (SEAL)
r4A(iant; OF COLORADO, l Isabel C. Ruiz
22 County of Weld 1y
ss
Th9(fojgeggurg instrument was acknowledged before r. .'s fifteenth day of June
19t/76 ,by Raymond R. and Isabel C. Ruiz huse-nd and wife.
gar expires , 19 .Witness h d official seal.
S71y Commie o t :.v sir,a 2,`av 6
Notary Public.
No.!32 WARRANTY DEED.—For Photographic Rnord.—Bradford Publishing Co..18244E Stout Street,Dearer,Colorado b76
cn I§ ®
au has \( •
\ O - @
•c. / _. 1Er
_ { ® = - » @ m
° + ® &
_ CD . 22 u & 0` z Q
7 . \ \ { � $ \ } ( 2
@ @
rt. / \ 2 ; Cr
. ! en til $
CO
ril
R .
: I
I . \ / ,
11
1V . .
\ \ • • •
0 7/1/ . 7x e--T
n ,kh , y 1 'fl\
t' a
4• t„
� G3.B8 •
/5o.r t `,)
s.2. ?z 5'o v 4
4. JoT _G L¢
G OG� //S 1/411 11
Zcao.a a /lo,CO.\ 4or7 a L5 t N...,
0P„�Ly Cana vC, 4.7. -.a i�.�s
-�
c p a L.oT 8 % L/O a U
C O - /50.0 89•a CI
'Rs NI
L oT 9 ' ' 21 ' ki
\ /25tO gee,
io4.0 7®sc.
\'' : G // ' : A 9 a
A 7s.0 6793
net kb 2.290`
6r� �Ti���7' sus .
- Io -
Ruiz House No. 1
Sketch of Floor Plan
33'4"
Bedroom Bedroom Living Room
264-'
Utility Room Kitchen Bedroom
1
1
I
- 11 -
Ruiz House No. 2
Sketch of Floor Plan
20'
I
Bedroom Living Room
24'
_ t
Kitchen Bedroom
- 12 -
a
d
LEGAL DESCRIPTION
Lots Seven (7) and Eight (8) , Block Two (2) , of Burger-Fry's
Subdivision, being a subdivision of part of Lot Four (4) of
the Southeast Quarter of the Northeast Quarter (SEINE-) of
Section Five (5) , Township Five (5) North, Range Sixty-five
(65) West of the Sixth Principal Meridian, according to the
Subdivision of the lands by the Union Colony of Colorado,
Weld County, Colorado.
SITE DESCRIPTION
The site is trapezoidal in shape with the north line being 200 feet,
the east line 100.96 feet, the south line 150 feet and the westerly line 118. 66
feet. It therefore contains approximately 17 , 588 square feet. There is a
public dirt street along the east side and the westerly side borders the Cache
La Poudre River. The topography is mostly level except the westerly end
which drops abruptly to the river bed near the property line . Soils are a light
brown fine sandy loam . There are no street improvements and no water, sewer,
or natural gas connected to the site. Electricity is provided by Home Light
and Power Company via overhead lines.
DESCRIPTION OF IMPROVEMENTS
Main Dwelling (No. 1)
The math improvement, situated on Lot 7 , consists of an older, single
family frame residence built approximately 50 years ago at another location
and moved to the subject site in 1970. It is rectangular and contains about
883 square feet. There are six rooms including living room, three bedrooms ,
kitchen, and utility and storage room which originally appears to have been a
bathroom. However, there are no plumbing fixtures connected or in use at
this time.
The structure is a combination of periodic additions including individual
rooms moved in and attached and some partially completed on site additions .
Exterior - The dwelling is of frame construction completely covered
with steel, color impregnated lap siding. Foundation is two courses of cinder
- 13 -
block over poured concrete footings. Some of the foundation blocks are loose
and there is about an 18 inch square hole in the southwest corner. Roof is
new composition shingles . Facia and soffit are deteriorated wood in need of
painting. A small portion of the front has imitation stone and mortar wainscot.
There is a concrete front stoop with two steps about 8 feet by 8 feet and a
30 inch by 18 foot long sidewalk.
Interior - The living room has wall to wall carpeting over oak flooring
and walls have mahogany paneling. Ceiling is textured drywall about 9 feet
high. Trim is old style painted board around doors and at the floor. A pro-
pane space heater with a brick chimney flue provides the only heat. Windows
throughout are new aluminum sash-double hung.
Bedroom off the north side of the living room has paneled walls, similar
textured ceiling, particle board floor covered with carpeting. The adjacent
bedroom on the north has particle board floor and one wall has some paneling.
The remaining walls are rough board finish with the outside wall having ex-
posed 2 inch by 4 inch studs about 2 feet on center. Ceiling is exposed 1
inch board over 2 inch by 4 inch rafters. Wiring is exposed plastic cable
and an open box with light bulb.
Kitchen has fairly new linoleum over particle board floor. Three walls
have some paneling and some marlite finish. The ceiling is boxcar style
tongue and groove siding. There are two wall hung cabinets and a 7 foot
long base cabinet with formica counter top and backsplash. The east wall
is painted drywall. Five electric outlets are spaced around the room.
The utility room off the kitchen has hardwood floor and old wet lathe
and plaster walls and ceiling. There are two light receptacles and one
window has been boarded over. Some old plumbing connections remain in
the floor.
A third bedroom to the southwest of the living room has 3 inch pine
tongue and groove floor covered with poor linoleum. Walls and ceiling
have rough finished drywall.
Practically no interior doors between rooms . Curtains provide limited
privacy.
Vacant Dwelling -(No. 2)
A second residence situated on Lot 8 is rectangular and contains 480
square feet. There are four rooms including a living room, two bedrooms ,
and a kitchen. No plumbing is connected to this dwelling.
- 14 -
Exterior - Frame and board construction on cinder block foundation.
Part of the roof has multi-colored composition shingles in fair condition
and part roll composition material with some tears . Exterior walls are
composition shingle with numerous holes and patches. The trim is worn
and nearly without paint. Some of the windows are broken. Front and rear
stoops are of board construction.
Interior - Living room has uneven softwood floor and mahogany paneled
walls. Ceiling has inexpensive paneling and is only about 7 feet high. A
propane fired space heater with brick chimney furnishes the only heating.
The bedroom to the north off the living room is quite narrow and has
linoleum over 1 inch by 8 inch softwood flooring, masonite and sheet rock
walls and ceiling with lathe covered seams and a small open closet. The
bedroom to the west of the living room has old linoleum over rough floor,
old acoustical tile ceiling and patchy plywood and sheet rock walls .
The kitchen has linoleum over softwood floor and rough textured dry-
wall ceiling and walls . It has a 5 foot formica top base cabinet and some
open shelves and rough cupboards. A steel Youngstown type sink without
faucets provides some cabinet space. There are minimal wall plugs and
ceiling fixtures.
ZONING
The subject property is currently zoned I,Industrial District by Weld
County. Uses permitted in this zone are found in the excerpt from the
Weld County Official Zoning Resolution in the Addenda of this report.
ASSESSED VALUE AND TAXES
According to the records in the Weld County Assessor's office, the
land is assessed at $60 and the improvements at $290 for a total of $350.
The applicable mill levy is 91.07 and results in general real estate taxes
of $31 . 88.
HIGHEST AND BEST USE
Present use - as low income housing, with potential for industrial
development.
- 15 -
EVALUATION
Sales History of Subject
Lot 7 was deeded from E. Sanchez to Raymond Ruiz on April 4, 1967.
According to Mr. Ruiz he moved the house onto the lot six or seven years
ago and therefore any sales history of House No. 1 or Lot 7 is of no conse-
quence to a current market evaluation.
House No. 2 or Lot 8 was deeded from Clement Bermudez to Raymond
Ruiz on May 14 , 1974. Mr. Ruiz confirmed the purchase price as $1,000 plus
cost for title and legal work and for cleaning up the property to make it live-
able at an additional $495. This transaction is reported in the Addenda of the
Basic Data volume as Sale No. 4 and the purchase price has been utilized
as the rounded figure of $1 , 500.
Market Approach
The two Ruiz lots are evaluated separately due to their marketability
as two properties. Each lot is improved - one with a below average house
for the neighborhood, the other with an above average house. The lots are
each adequate sites individually, and each lot with its improvements is
comparable to some of the sales. On the following two pages are the compara-
tive grids adjusting the three most comparable sales to an indication of value
of the two Ruiz lots . The individual lots are 9,462 square feet (House No. 1)
and 8, 125 square feet (House No. 2) with a total site area of 17 ,587 square
feet. The dwellings are 883 and 480 square feet consisting of 5Z and 4 rooms
and no bath - respectively.
House No. 1: The three resultant indicators provide fairly narrow brackets
ranging from $5,700 to $6 ,800 for the property. Sale No. 4 (House No. 2) re-
quires large adjustments and is therefore a weaker comparable although it is
in the subject Burger-Fry's Subdivision. Sale No. 6 is also in the Burger-Fry's
Subdivision but requires some rather large adjustments and is nearly three
years old. Sale No. 7a is one of the better comparables due to its recent date
and general similarity although it is semi-modern, includes a bath and is located
in the Spanish Colony. Nevertheless , it is one of the better comparables and
the final value indication, by the Market Approach, is considered to be $6 ,500.
The other checks of the value reported are reasonable as compared with
the general unit sales price of the 13 improved sales . These figures are based
on a Highest and Best Use of low income housing.
- 16 -
MARKET DATA APPROACH
Comparative Grid
Ruiz House No. 1
Adjustment Item Sale No. 4 Adj. Sale No. 6 Adj_ Sale No. 7a Adj .
Date of Sale 5/74 +$ 300 5/73 +$1000 4/76 =
Age & Condition Inferior +$1000 Inferior +$ 300 =
Construction/Quality Inferior +$ 800 Inferior +$ 200 Inferior +$ 500
Size - Sq. Ft. 480 +$1600 500 +$1500 440 +$1700
Rms./Bdrms . 4/2 +$ 500 4/2 +$ 200 4/2 +$ 250
Baths = = 1 -$1000
Bsm't./Finish = = _
Site (Zoning) 8, 125 = 6 ,875 +$ 100 4,500 +$ 450
Location = = _
Other Financing -$ 250
Sale Price $ 1 ,500 $ 3,500 $ 4,500
Total Adjustments $ +4,200 $ +3,_300 $ +1 ,650
Indicated for Subject $ 5,700 $ 6, 800 $ 6, 150
Value indicated for subject, after weighting of comparable sales $ 6,500.00
- 17 -
MARKET DATA APPROACH
Comparative Grid
Ruiz House No. 2
Adjustment Item Sale No. 4 Adj . Sale No. 6 Adj. Sale No. 7a Adj.
Date of Sale 5/74 +$ 300 5/73 +$1000 4/76 =
Age & Condition (Subject) = Superior -$1000 Superior -$1000
Construction/Quality = Superior -$ 500 Superior -$ 500
Size - Sq. Ft. 480 = 500 = 440 =
Rms./Bdrms . 4/2 = 4/2 = 4/2 =
Baths = = 1 -$1000
Bsm't./Finish = _ =
Site (Zoning) 8, 125 = 6, 875 +$ 100 4,500 +$ 500
Location = = _
Other Financing -$ 250
Sale Price $ 1 ,500 $ 3,500 $ 4,500
Total Adjustments $ + 300 $ - 400 $ -2 ,250
Indicated for Subject $ 1 , 800 $ 3 , 100 $ 2 , 250
Value indicated for subject, after weighting of comparable sales $ 2,250.00
- 18 -
Improvements only: $4, 500 _ 883 sq. ft. = $ 5. 10 p.s.f.
Land only: $2, 000 : 9,462 sq. ft. = $ 0 . 21 p. s .f.
Total: $6 ,500 : 883 sq. ft. = $7. 36 p.s.f. - of building area
The unit land value is very near the average and median for the sales
studied.
The unit value of improvements only at $5. 10 is slightly above the
average - however, this is reasonable due to the above average quality
residence. This is mostly due to the new metal siding and new roof.
The $7.36 per square foot represented by the total price divided by the
dwelling area is slightly above average again due to the above average quality
house.
As a result of this study, the value estimated by the market comparisons
for House No. 1 is estimated to be $6 ,500.
Income Approach
Based on the study of rentals and GRMs presented in the Basic Data
report, a monthly rent of $100 and a GAM of 60 are chosen as appropriate
for this property.
100x60 = $6 ,000
House No. 2: The three resultant indicators provide rather wide brackets
ranging from $1 ,800 to $3, 100 for the property. Sale No. 4 is the subject and
is only adjusted for time. This should be some of the best evidence of the cur-
rent value. Sale No. 6 is also in the Burger-Fry's Subdivision but requires some
rather large adjustments and is nearly three years old. Sale No. 7a is one of
the better comparables due to its recent date and general similarity although
it is semi-modern, includes a bath and is located in the Spanish Colony. Con- °
sidering Sales 4 and 7a as the best comparables, the final value indication,
by the Market Approach, is considered to be $2 ,250.
The other checks of the value reported are reasonable as compared with
the general unit sales price of the 13 improved sales . These figures are based
on a Highest and Best Use of low income housing.
- 19 -
Improvements only: $750 _ 480 sq. ft. = $1. 56 p. s.f.
Land only: $1,500 _ 8, 125 sq. ft. = $0. 18 p. s .f.
Total: $2 ,250 _ 480 sq. ft. = $4. 69 p. s.f. - of building area
The unit land value is very near the average and median for the sales
studied. The unit price can be expected to be slightly below average due to
the flood potentials.
The unit value of improvements only at $1. 56 is below the average -
however, this is reasonable due to the very plain minimum quality residence.
The $4.69 per square foot represented by the total price divided by the
dwelling area is about average.
As a result of this study, the value estimated by the market comparisons
is estimated to be $2 ,250.
Income Approach
Based on the study of rentals and GRMs presented in the Basic Data
report, a monthly rent of $70 and a GRM of 30 are chosen as appropriate for
this property.
70 x 30 = $2, 100
Value as an Industrial Site
The total value reported for both sites is $8,750 and represents a unit
value of $0. 50 per square foot if the total value were all for land. This is
above the average and median of $0.26 to $0. 27 presented by the six "lettered"
land sales but is fairly realistic in the industrial land market and is caused by
the above average house on one lot. The site suffers some flood potential.
Practically all of this site is within the "flood valley" district of the City of
Greeley zoning ordinance regulations . The land as an industrial site has good
frontage but backs up to the river. The assemblage or above average size is
desirable for industrial purposes. Therefore, the total value reported by the
comparison approach as an improved site, is slightly high but realistic as an
unimproved industrial site.
Correlation
It has been previously pointed out in the Basic Data report that a Cost
Approach is of little value due to the high degree of accrued depreciation which
exists in the improvements involved with these two properties .
- 20 -
The Income Approach is a weak indicator although several of the sale
properties are rented and it is therefore possible to make reasonable estimates
of the GRM and rent.
The Market Approach is the most reliable for this type property and
reasonable market data is available to lend reliance to this estimate.
As a result of all of these considerations , value of the subject Ruiz
ownership is estimated to be $8,750.
- 21 -
Ruiz Parcel
Front view.
1
At,. --s,
Ade
Rear view.
View of rear yard
behind residence.
/
Vacant house .
Front view. • i
/ ,
e . .T_
Vacant house.
Rear view, k
I
,
...µ...,..,i.,4
l
•
I' . f
View of rear yard _ --_
behind vacant —
house.
Hello