The New York herald., 1869-08-28
SAN FRANCISCO REAL ESTATE.

Growth OF the City-(sreat Increase I'm tho
Price of Land-vaIue of the Prominent
Strects-Purchases by Capitalists-EGcct Of
the Earthqunle-Sales Daring the Past
Year.
SAN FRANCISCO, August o, 1869.
The HERALD keeps Its readers posted on real estate
matters in New York, the first city of the United
States and probably will not object to making room
for brief letter about the real estate of this city,
which Is destined to be the second city Of the CONT
nent.
san Francisco has q population of 1861 900 persons
The area Of the city and county is forythree square
miles, The assessed value Of the land lying within
this circle, November last, was SIS, s,1sS,4 413. The
assessed value is not, however, more than one-thrd
the market or selling value, which is at least
t15o,OOOOOo The average value Of each sale In 1865
was s265O; in Is 66 was 1885, in 1861 ss2ls and
in 1865 $425O. There has been little or no improve.
ment In the price OF land in the northern portion
OF the city for seven years. II is all hily, and the
poorer classes reside there. The magnificent bay Of
San Francisco bounds the city on the east, that
we have really no east side OF the town. The west
ern portion OF this place has improved very much
cisco what the west side OF New York Is to your city
and the West End OF London Is to the English cap-
tal-that is, the place OF fashionable residences
where the 'upper ten" Will be housed. The south
side OF the city s the direction in which the com.
msrce, the shipping, the population, the manufacto.
ries and the improvements are all tending San Fran
cisco Is located at the front OF peninsula, and to
yet OF It necessitates going soath. Land in the
southern portion OF this city mas 10 general advanced
Francisco Is yet in its infancy and therefore In this
southward marcn the city clings closely to the wa
ters Of the bay Az we grow older, however we shall
spread out more though southward will always be
the course OF our local empire.
Montgomery street. IS the Broadway Of San Fran
cisco. For travelling purposes it has length OF
only nine blocks Of 275 feet each 1t runs north and
south. The two SOutherly blocks from Bush to Mar
ket street are the most valuable Inside lots on these
a nj I'll " ant Qro
worth $4,000 per front foot while corners are worth
$500 to $3.50 per front foot Montgomery street
Market street until lately. when few Of our chief
capitalists quietly went to work and bought up all
yet Thev directly secured enough ground to ex.
tend the street two blocks further south TO Howard
street. General Halleck and few other persons
have secured the most Of the land requisite to still
further extend Montgomery street to South Beach
and the water front there. Even II the extension
goes no further than Howard, the owners OF It will
make a very handsome profit. They paid something
like $500 per foot for the and and can already sell It
before any OF the buildings are completed for an
average OF about Sl AGO. with prospective value IN
year or two OF $1,000 per foot The largest and
finest building in San Francisco is now going up on
the corner OF Market and Montgomery streets,
south. The upper portion OF IL Will contain 400
rooms and Is to be called the Grand Hotel. 1t has
been leased for &, 200 per month.
The next best street is Market street, II Is 100 feet
Wide and runs northeast and southwest; II is called
the vertebrae OF our street system Land on its best
with average depth OF ninety feet, from ST. 500 to
81, 800 per 'front.' foot
kearny street lcalled after the late General phi
Kcarny Is the next best retail business street, I runs
parallel with and IL only one block west OF Montgom
ery. Land the most southerly blocks of Kearny s
worth about $1,000 per loot, with an average depth
or only sixty feet. kearny street lately widced
twenty feet, for length norLherly or nine blocks
Kearny connects, though not directly, with Third
street. on the other side OF Market. second, Third
and Fourth streets, for two blocks south, are the
next best retail business streets. and Sansome Bat
terry and Front streets are the three chief wholesale
business streets OF San Francisco Land on these ak
last thoroughfarcs Is worth, with an average depth
OF about seventy feet from $1,000 TO por front
foot.
The best first class private residence property OF
this city lies the west side from Bush street 10
Ellis street and from Powell street to Leavenworh
street twenty-four blocks, each 4l2x feet by 255.
Lots there have depth OF 1919 feet, $500 per foot
only being the average price there. Worklnginen's
houses Of i've to eight rooms are worth S35 to $4s
per month here while first class houses OF eight to
twelve rooms with all modern improvements COW
ering n twenty-five feet lot within the bounds last
named. are worth $40 TO 800 per month. Nineteen
out OF every twenty dwelling houses here are frame,
and since the earthquake or October last brick
residences rent slowly and at very low rates. That
earthquake occurred IN the midst Of q season OF un.
parasled real estate activity. it caused complete
stagnalion la tue market for SIX weeks, but did not