Los Angeles daily herald. [microfilm reel] (Los Angeles [Calif.]) 1884-1890, 1886-08-05
PRICES OF PROPERTY.
value. Mere and Elsewhere Com.
pared a Little.

4
Many people who buy property her
in Los Angeles are al loss for values il
other cities. There lies before th
HERALD reporter little printed lis
issued by real estate firm at 81. Loui
from which a few figures are taken
There is none Of the property LISTED
really first-class, although there is som,
Of it good. st. Louis Is a city of abou
$50, 900 inhabitants, bnt its days o.
rapid growth are checked. 1t does .
great deal Of business.
The first parcel noted is at least five
blocks both ways from the center OF the
city or ten blocks in all. 1t is priced at
$500 per foot. There Is two story
brick building on it. The buildings are
certainly an element OF uncertainty as
to value. But these facts are to be kept
in view. St. Louis is all brick and that
style Of building there costs about as
much as frame structure does here.
Again, anything short of four story
building in st. Louis is pretty certain to
| be old, II not er tirely antiquated.
The next piece is 40 feet, with a four
story stone front, cellars, etc TINS Is
put at $1,000 foot, including the I'M
proyements. 1t 10 four or hive blocks
from the center.
Al i2l4 Washington Avenue 25 feet
rppnino back to rear street, with q
store and six rooms above it is offered
for $4,000. The improvements are
probably very medium and the price Is
5000 front foot. That locality Is far
from the hest business property.
Coming to residence property, a row
of two. story brick houses, twelve In all,
ak rooms each, nearly twenty blocks
from the business center, the lot being
l5OxlOO feet, or Is feet to each house
a closely packed and contracted affair
is priced at $35, 600, 1t is quite presum-
able that the improvements on the above
are a series of rat-holes and that the
price is merely for the lot, which would
be nearly 500 foot. Residences of
say ten rooms, on lots 70xl0O, two to
three miles out, range at $4,000 to
$50, 900.
In unimproved reality, los in q good
location, 90xl45 feet, or equal to two Of
our small residence lots, is offered for
$4,000. That is $4,000 for each lot.
Anything in fair locality and not over
three miles out is held at S75 to $3.50 a
foot for residence property. Medium
residence property ranges at $40 to S65
per foot This would be at least three
miles from the center. Lots in portions
of the city similar to our river front
near the foot of First street sells at $40
to $40 per foot.
Suburban property is also on
the list. One piece of 20 acres
II Glendale, 20 miles from the city, is
put at $l5, ZOO. It Is described as we'll.
improved, with house and outhousss.
In sod Orchard" miles out, Al acres,
with frame cottage, is offered for
5000. At various distances places are
offered as follows, Improved l6 acres,
$40, 900; 10 acres, unimproved, $1,000;
lot 30Ox350 feet, improved, 5000; lot
l00x300 feet, improved, $4,000.
The very top of business property in
st. Louis is $1,000 foot, and the cream of
residence property is $3.50.
The facts above would apply almost
equally. to San Francisco, st. Paul or
Minneapolis. The prices of property in
Los Angeles would range at say $500
for the best business property with
$1,000, the highest yet paid. The cream
Of residence property is not held above
800 as an extreme, unless there is a
prospect of its being business property
by and by. Choice residence is 10 be
had at $50 foot, and really good
at $40.
1t is worthy of note that our city
is getting up pretty well to the
price of large cities, also that eastern
suburban property is quite as high as
that near Los Angeles. There is no
doubt that suburban property near this
city is destined to be the most valuable
in the world of that kind. There is a
pointer here.
Another fact to be borne in mind is
that money in the cities named is TO be
had at to per cent. As money gets
cheaper here property must get denrer.