<format type="json">{report_id: string, property_address: {street: string, city: string, state: string, zip_code: string, parcel_id: string optional}, due_diligence_date: date, property_details: {property_type: string, lot_size_sqft: number optional, building_sqft: number optional, year_built: number optional}, environmental_findings: array of {report_type: string, date_of_report: date, consultant: string, findings: array of {contaminant_type: string, location: string, risk_level: string, remediation_required: boolean, estimated_cost: number optional}}, structural_findings: array of {report_type: string, date_of_report: date, consultant: string, issues: array of {issue_description: string, severity: string, recommendations: string, estimated_repair_cost: number optional}}, zoning_compliance: {current_zone: string, permitted_uses: array of string, non_conforming_issues: boolean, notes: string optional}, legal_encumbrances: array of {type: string, description: string, impact_on_property: string, cleared_status: boolean} optional, overall_risk_assessment: {summary_assessment: string, total_estimated_mitigation_cost: number optional, recommendation: string}}</format> <data>MEMORANDUM

TO: Investment Committee
FROM: Due Diligence Team
DATE: 2024-08-16
SUBJECT: Analysis of Property at 9354 Carr Lakes, Rothhaven, Nevada 60056 (Report ID: DDR-2024-658-Nevada)

This report synthesizes the findings from our comprehensive due diligence on the subject property, a multifamily facility reportedly constructed circa 1984. The site inspection was conducted under favorable weather conditions, which aided the external reviews. The property is currently zoned as M-3 General Commercial, which appears to align with its historical and intended use.

Environmental assessments, primarily conducted by Randolph-Scott, identified several key issues. The most recent report dated 2024-06-15 highlighted a moderate risk of VOCs in the Groundwater (est. cost: $0); a high risk of Asbestos in the Sub-slab vapor (est. cost: $53,260). This follows an initial Phase I that suggested the need for further subsurface investigation.

The title search revealed 3 notable encumbrance(s), of which 3 have been marked as cleared. A standard utility easement along the eastern boundary, for instance, poses minimal impact on future development. Other items are pending review by legal counsel.

In conclusion, our analysis indicates a moderate risk with mitigation. The cumulative financial exposure for the identified deficiencies is estimated to be in the region of $53,260, though this figure is preliminary. Based on these findings, our recommendation is as follows: Proceed with acquisition, but factor in estimated costs for post-acquisition repairs and remediation.</data>
{
  "report_id": "DDR-2024-658-Nevada",
  "property_address": {
    "street": "9354 Carr Lakes",
    "city": "Rothhaven",
    "state": "Nevada",
    "zip_code": "60056",
    "parcel_id": "ROT-72898-1750"
  },
  "due_diligence_date": "2024-08-16",
  "property_details": {
    "property_type": "multifamily",
    "lot_size_sqft": 97365,
    "building_sqft": 10687,
    "year_built": 1984
  },
  "environmental_findings": [
    {
      "report_type": "Phase I ESA",
      "date_of_report": "2023-09-28",
      "consultant": "Randolph-Scott",
      "findings": [
        {
          "contaminant_type": "None detected",
          "location": "Overall site",
          "risk_level": "low",
          "remediation_required": false
        },
        {
          "contaminant_type": "None detected",
          "location": "Overall site",
          "risk_level": "low",
          "remediation_required": false
        }
      ]
    },
    {
      "report_type": "Phase II ESA",
      "date_of_report": "2024-06-15",
      "consultant": "Deleon-Miller",
      "findings": [
        {
          "contaminant_type": "VOCs",
          "location": "Groundwater",
          "risk_level": "moderate",
          "remediation_required": true
        },
        {
          "contaminant_type": "Asbestos",
          "location": "Sub-slab vapor",
          "risk_level": "high",
          "remediation_required": true,
          "estimated_cost": 53260
        },
        {
          "contaminant_type": "Asbestos",
          "location": "Roofing materials",
          "risk_level": "low",
          "remediation_required": false
        }
      ]
    }
  ],
  "structural_findings": [
    {
      "report_type": "Structural Engineering Review",
      "date_of_report": "2023-12-21",
      "consultant": "Sweeney, Olson and Hanson",
      "issues": [
        {
          "issue_description": "Big political carry institution five how in the load-bearing walls.",
          "severity": "minor",
          "recommendations": "Raise bring because individual everybody Democrat than build."
        },
        {
          "issue_description": "Generation husband describe thus everybody in the roof trusses.",
          "severity": "minor",
          "recommendations": "Window individual interview foreign amount next guy eye next though."
        }
      ]
    }
  ],
  "zoning_compliance": {
    "current_zone": "M-3 General Commercial",
    "permitted_uses": [
      "over",
      "project"
    ],
    "non_conforming_issues": true,
    "notes": "Foreign education table."
  },
  "overall_risk_assessment": {
    "summary_assessment": "moderate_risk_with_mitigation",
    "recommendation": "Proceed with acquisition, but factor in estimated costs for post-acquisition repairs and remediation.",
    "total_estimated_mitigation_cost": 53260
  },
  "legal_encumbrances": [
    {
      "type": "Lien",
      "description": "Stand conference any little cup PM.",
      "impact_on_property": "significant",
      "cleared_status": true
    },
    {
      "type": "Easement",
      "description": "Prove new who authority some yourself tree.",
      "impact_on_property": "significant",
      "cleared_status": true
    },
    {
      "type": "Easement",
      "description": "Government music reach act bar.",
      "impact_on_property": "significant",
      "cleared_status": true
    }
  ]
}