BB-10-v-1
[Letterhead of the Maltz Co., Realtors, Los Angeles]
January 8, 1973
Mr. Eugene Chaikin
P.O. Box 192
Redwood Valley, Ca, 95470
Dear Mr. Chaikin:
On October 3rd of this past year you suggested that the church might be interested in the apartment building adjacent to the church property of 435 Alvarado Terrace. Believe it or not, from that day to this one, we have spent over 100 hours with the owner of that old apartment building trying to get him to accept a realistic appraisal. He started out asking $175,000 for a 30-unit building. We are now of the belief that $135,000 will be a figure that he might accept. However, to protect you from wasting your time, we have pursued this from another course as well and we have found a property that he likes as much as the one he presently has now. That property can be acquired for $124,000. Perhaps making a trade this most unsophisticated seller can finally be satisfied and at a price that might just make sense to the church as potential buyers. I am not suggesting that this is any bargain price but I am suggesting that it would be consistent with fair market value for that age and location.
Please wish Rev. Jimmy and all the people that have worked so hard with him a happy, healthy and productive New Year, with best personal regards.
/s/William L. Maltz
William L. Maltz
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BB-10-v-3 – 6 consist of notes regarding property at Alvarado Terrace, Los Angeles