The herald., 1895-09-27
REAL ESTATE and BUILDING
The Week Has Been One OF
Comparative Quiet
SITUATION is SATISFACTORY
II Never Was More So Than il is
Today
The Effect Of . Greater Los Angeles Upon the
1arket. Some Of the Transfers ans
Contemplated improvements

The real estate market for the past
week has been comparatively quiet ow-
ing to the unusual heat, but the dealers
report some good sales, mostly in city
property. The most notable TRANSACTIONS
were the sale OF ten-acre tract at the
corner of Budlong avenue and Adams
street and twenty-aore tract ON the cor
ner of Central avenue and Adams street.
Both properties are intended for Immedi-
ate subdivision. The property on Bud
long avenue known as the Jenkins prop
erty was purchased by J. Davenport for
$25. 600. The block on Central avenue
is opposite Grider e. Dow's Administered
tract. and was purchased by r. II. Z.
Green Of Toronto, Canada. from Colonel
G. J. Griffith for $50. 900. Mr.. Green will
make Improvements on his property in
keeping with those already made in that
locality. The paving of Main streut and
the prospect uf an electric railway on that
thoroughfare together with the improve
ments that have been made down Central
avenue, have caused many of the old spec
ulators of boom times to look about in
the direction south of the city for tracts
suitable for subdivision.
The elections called to decide whether
the territorial limits of this city shall bs
greatly enlarged or not will be held on
the Sd and 4th of October. and the I'M
preston appears to prevail that the vote
will be in the affirmative. Should this
impression be realized this city would
unquestionably receive an advertisement
that must almost Of necessity do it much
good.
The mere extension of the city limits
would not of itself add a particle. per-
haps, to the value of urban or suburban
properties, but Los Angeles would by the
action attract to itself still greater atten.
tion than that which it is now receiving,
and attention is all that this city needs
from the utslde world IN order to main
tain and acceI crate its rapid increase.
Eight years ago, at the height of the
boom real estate trans fers were more
numerous than now, but it is safe to say
that the condition of the real estate
market in Los Angeles has never been
more satisfactory than it now is. The
outside world wants TO Know this; it
wants to know that today there is scare
ly any speculative buying; that very
great ms joiity of sales being made are
to persons who wish a steady income or
else TO persons who purpose making
homes for themselves and SO avoid the
payment of rent: that this CITY, in brief
is a safe city and good city to 1.-Two IN.
gentleman just arrived from Kansas
City says we may expect large influx of
visitors from that locality in the near flu
ture. Information OF Southern California
Is eagerly sought and the rapid progress
in development of the oil wells and other
productive Industries, as we'll as the
building boom that has been IN progress
for some time past are subjects of general
conversation not only here in Los Ange-
les and in Southern California but all
through the great central states and in
the east.
Business property on Broadway may
still be said TO be in the lead that is to
FAY. south Broadway, for north of First,
or even of Second, it is not so easy to
make sale at good figures. There is
some further talk about opening North
Broadway by means of tunnel.
A feature of the market lately has been
the advance in values of cross streets,
particularly Second. Third and SIEVE tn
where some transfers have been made at
prices that would have been considered
astonishing year ago.
That conservative newspaper devoted to
the real estate and kindred interests, the
Daily Morning Journal. has this brief
epitome OF the local situation in its issue
OF Thursdayof this week. Probably there
Is no city of 100000 inhabitants on the
continent that is enjoying the same de-
gree OF prosperity ms is the present LOT of
Los Angeles. Not only is the city max.
ing wonderful and steady growth, but
outside capital is constantly seeking
chances for investment here A great
deal of this capital is going into land,
much Of it is being put into business ven.
lures and manufacturing enterprises, and
not little ~ seeking profitable field
in the oil business. But it is in the cleo
trio street railway business that the great
est fascination for moneyed men seems to
lie. Great as has been the developm emit
in this line already the work seems
scarcely moro than fairly begun. There
are numerous rumors af1oat concerning
new enterprises, but the time is not ripe
to any of them for consideration except
those which seem to be reasonably GER
tain of fulfil llment.