Los Angeles daily herald., 1886-06-24
Los ANGELES REAL ESTATE.
opinion of n Uhieage Wan ON
the subject.

opinion OF Chfengo wan o.
the subject.
Capt +. B. Forrest of Chicago.
prominent real estate operator of tina
city, is now in Los Angeles, and is tnuc
pleased with our country. AZ hav
never" he remarked to HERALD re
porter yesterday, 'seen country Wit
a more magnificent future before it. !
is one of the rare choice spots of th
world and will be as densely populate
to the square mile, l mean, of course
where the land Is arable, as any portio
of the United States. You have n
idea what furor there is in the Eaa
about Southern California. | SHOULD
not be surprised II 25,000 people cam
out here next winter to locate. Thi
excitement is due not so much to pub
lished reports as to the reports carriet
back by parties who have been here ant
returned 10 their old homes. l an
bound to say that all my expectation
have been more than realized"
"What do you think of the presen
boom in this cityi"
at will continue two or three year
yet. You will see your best times dur
ing the next two winters"
"What property in the city do yor
think will enhance most rapidly il
valuei"
business property on Spring. Main
and Fort streets and those districts
through which the electric and cable
roads pass. | have been much inter
ested in one portion of your city which
seems to have heretofore been neglected
and only now is coming into prominence.
l refer to that large district between
here and Santa Monica. | have spent
several days in looking it over. and
assure you that the city is destined to
grow in that direction. There have
been some purchases on Pico street
which at first thought look rather wild
from $1,000 to S2500 per acre;-but the
investors will reap handsome reward.
Mark my word.
"Why should that section grow faster
than other portions of the city?"
"Well, in the first place, the locality
is elevated and healthy, while at the
same time il has none of the disadvan-
tsges of the other hill lands of the city,
where often a man has to pay as much
for grading the streets and his lois as his
lots are worth. The electric company, l
understand, is preparing to build one
hundred and ten houses on one
of their tracts. When this is
done it makes every lot and
acre of land in the vicinity worth
double what it was before. have un-
bounded confidence in the electric rail
way system. / have seen it operated
both in Baltimore and Germany, and
with the new improvements it Is far
ahead of any other means of transit.
You can ride from the center of town to
Pico Heights in ten or fifteen minutes.
All along the electric road in Baltimore
property has more than doubled in value.
The favorite residence portion OF the
city will be in this direction, for a con-
siderable distance towards Santa Mo-
MICA. | understand that the road is
eventually to be extended to Santa
Monica"
"Have you invested yet in any prop.
erty, Colonels'
mo, sir. My funds are tied up in
the East. hope, however, to be able
to put some money in Los Angeles real
estate, before long. Property which is
offered at anything like a reasonable
figure is bargain now. People who in.
vest this summer will make big money
this fall and the coming winter"
Two years ago when | was here you
thought you had business blocks enough
to last you for the next ten years. Now
there is not desirable store to rent.
The experience of your city will be like
that of Kansas City. When lots in the
center of town become too expensive,
people will go q long ways out-that is
if they can be assured OF reliable rapid
transit. Property now considered a
long ways out, if in desirable location,
will be brought close to town by cable
and electric lines, and such property
will enhance in value most rapidly"