The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-05-01
MAGEE'S REVIEW.
Real Estate Business During
April Very Active.
The Building Of Flats-Rent of Boarding
Eouses-Heavy Loans at 61z and ga
per nt-Representatiye Sales.


tracts. The Circular has entered on its
twenty-sixth year of publication, Mr.. Magee
having been its editor during all of that
time:
Six hundred and twenty-eight real-estate
sales were made in March, of the aggre-
gate value of 81, 341, 1864. and 74O in April, OF
the value of 1924. 1893. The increase, there
fore. for last month was a large one. The
marker has been quite active not for large
residence or business properties, but for
low and medium priced parcels, which
sold mostly at fair prices. There have
been more sales of lots than of any other
property, especially in the district between
Fillmore, Baker, McAllister and Fell streets.
A block between Clay, Washington, Baker
and Lyon streets was also sold last month.
The Whartenby estate property was alSo
disposed of, but as particulars have already
been published Of these sales we need not
here repeat them. Business properties
worth $4,000 to $4,000 are, as they long
have been, In special demand. As an Illus
tration, we may quote the lOt 40 :Sx59:9 on
the north side of Sacramento street. just
west of East, and facing Market. 1t has
just been sold for $40, 800, and the adjoining
10 feet on the west ON Sacramento street by
500 feet in depth for $4,000. These are
now very reasonable prices. and yet the
first described piece was sold ten or twelve
years ago for S17,250. 1t was resold four
years ago for $4,000, and has now again
changed hands for $4,000 The building
on the lot is owned by the tenant;
rents $50 month. Lots between
Vallejo, North Point. Front and Stockton.
along the North Beach water front, are
in increasing demand, and at advancing
prices. We note that the building Of flats
has been overdOne there are many of them
for sale and the tendency of their rents 10
say the least is not upward. There is an
unusual number ofhouses to rent at present,
indicating overbuilding in some quarters,
though not SO muchl this, we think, as an
increasing tendency on the part OF married
people with small or no families to live in
boarding houses. New clearinghouse,
many OF them very large ones, have been
erected within two years, between Suffer
and Eddy and Powell and Leavenworth
streets. All of them were rented long be-
fore they were finished. The new board
ing-houSe, all upper floors, corner of Suffer
and Taylor streets, has been rented at SO
room, and an offer of like rent was last
month made for the erection OF boarding
house on an inside lot on Suffer street,
above Taylor. The owner declined it be-
cause he did not believe tenants could at
ford to continue to pay such rents They
are decidedly too high.
LOWER RATES FOR MONEY.
It would not be true to say that money is
cheaper than 1t was, and yet one very
choice loan of $500 has been made by
the Hibernia Bank at 6h per cent, and one
or two others by other savings banks at 6A
per cent a year, the bank paying the
mortgage tax. He will, however, have TO
go with the finest improved inside business
property and for sum not less than $780,
lrnn H..
from any of our savings banks at less than
per cent. This is the time OF year when
farmers are so busy that they have no time
TO seek needed loans. There is thus very
-little money going TO them in the interior,
and money is thereby made temporarily
more abundant in the city. That there will
be any reduction we doubt. but, OF course,
we hope there will be. There has been
very good city demand for money, mostly
in sums of $500 to $4,000 The total num-
Der of mortgages recorded was 4S5, of the
value OF 1872, 100; of releases there were
225, aggregating S1,S69,05 Two releases,
one of 100000 of the San francisco Pioneer
Woolen-mills, and one of $4,000 on long
line Of business properties OF one of our
largest real estate owners, Swelled the re-
leases to point over $500 900 IN excess of
the mortgages Of April.
REPRESENTATIVE SALES.
The lot and shanty on the north side of
Geary street. between Dupont and Stock
tor, lot z2%x60 in size, have been sold for
$4,000.
The property on west side of Stockton
street, 1874 north of Post, 23:4xS0 in size,
has been sold for $685. coo to owner OF the
corner adjoining.
The property on the northeast corner of
Grant avenue and Suffer street, 57:6 on
Suffer by 60 on Grant avenue, has been
sold, we hear, for 90,000, subject to the
Dupont-street widening tax, which Will
amount 10 about $4,000.
We lately noted the sale of the southwest
corner Of jackson and LaguHa streets %
on west side of Laguna by I37 IS feet in
depth on south side OF jackson. for $4,000.
We thought this very high price, but an
other sale just made shows a higher price
per front foot The lot we allnde to is the
lot on the north side of Broadway, 81 IS east
of Webster. 30 feet in front by 137 :6 IN
depth, for S16,000-S40o per front foot This
lot commands now and will always keep
very fine view of the bay, etc, and lots
thus situated will continue, we believe. TO
increase in price, because the number of
them is limited. Such lets are nearly all
owned by people OF means, who can abuud-
antly afford to own them. In short, the
mere fact that such people own and have
fine homes 10 that locality is enough of
itself TO make the land go to fancy prices.
But when TO this is added the panorama of
the bay, Heads, Marin County, etc, there is
abundant Justification for high prices.
Pacific Heights, too. is the only fine resi-
dence portion OF the city that is owned in
large lots mostly, and therefore the houses
aTe continuously fine. There is no other
portion of the city more favorably situated
or more desirable for rich peoples resi-
dences.
The old Turn Verein property, northeast
corner of Bush and Powell streets, is re-
ported sold for SAL, 500. The lot is 1877 g
feet front on Bush, SO on Powell, with
extra l. in rear on east 69x69; not yet of
record.
The lot northeast corner Vallejo and
Buchanan, 100 on Vallejo by 137 IS on Bu-
chanan, has been sold for so, 800.
The lot southwest corner Pacific avenue
and Central avenue, III IS on Central by
14S g on Pacific, was sold last month at
auction in subdivisions for S2l, 300 This
lot is at the Government Reserve gate.
The property east side Larkin, 20 south
of California, 40:6xS7 &c in size. has been
sold for $4,000; price put in deed SO.
The following lots have been sold on Mis-
sion and the contiguous streets and adjoin-
ing Mission, between Thiriy-secuDd and
Thirty-fourih. West side Mission, 175 north
of French, north 25xS2 in size, $3.50; south
side West Park street, 100 west of Mission,
25x1O0 500; north side Thirty fourth, 175
west Of Mission, 25x100 in size, $1,000; south
side Thirty-fourth, 800 west of Mission, II
feet front by 100 deep and 81 g wide in rear
$500; southwest side Holly. 223:9 southeast
of Mission, % :4x43 9 and 63 :6 Deep $500.
The following lots have last month been
sold in the block bounded by Oak, Fell, Fill
more and Steiner, deeds not yet of record:
25x100 in size, north side of Oak, IS west of
Fillmore, for $1,000; q :6x137 g ia size, north
side Oak, 100 west of Fillmore, S4675; 25x
1877 6 in size, north side Oak. 1916 west
of Fillmore, $3.50; 50x137 IS, north side
Oak, 1926 west of Fillmore, $500; and
northeast corner Oak and Steiner, 81 g on
Oak by 100 on Steiner for 5000.
The property, northwest line Natoma,
$50 southeast of Eleventh, 50x75 in size, has
been sold for $3.50, not yet Of record.
The property, west side Fillmore, 81 IS
north of Union, 25x100i in size, has been sold
for $3.50, not yet of record.
The property, north side Eighteenth 45
west of Douglass. 46x110 in size, has been
sold for $1,000, not vet of record.