Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-09-24
REAL ESTATE GOSSIP
Price Paid for a Residence Site in
the Suburbs.
An OFFER TO a LAND SYNDICATE
What is Said of the Market foi
Rented Houses.
SOME NEW BUILDING S

The purchase made by Mr.. O. T. Crosby
of building site on the Loughboro' road,
north Of the grounds of the American Uni
versity. was noted with good deal of in
terest by those who have property in that
vicinity, as well by those who are look
ing about for a favorable investment in
real estate. 1t is encouraging to dealers
and to others to find that this latter class
is getting to be rather numerous, and
while some of the large transactions which
have recently been made have been in
property in that general locality, yet it
is felt that activity in direction will
prove of benefit to property throughout the
entire District.
A Contemplated Improvement.
Mr.. Crosby bought the property with the
view of making there home for himself
and his family. His purchase comprises
six acres of ground and includes the build
ing which was formerly occupied by the
Dumblane Country Club 1t Is possible
that he may be able to make some use of
the old building, although in the sale it
was not rated being of any value. In
the event that Mr.. Crosby finds he cannot
use the old structure he will erect this
site residence. 1t is regarded as of
the most desirable building sites in that
locality, as it commands a wide sweep of
one of the most charming bits of agricul-
tural country to be found about the city.
1t is interesting to note in this connec-
ton that the price paid for the six acres
was 100000 which is al the rate of nearly
$1,000 per acre.
Proposed Bridge.
The engineer department has commenced
a survey of Rock creek for the proposed
new bridge which is to be built over that
stream on the line of Massachusetts ave
nue. extended. 1t is stated that an offer
has been made for the property west of
Rock creek owned by the John w rrhomp-
son syndicate, and that the offer is now un-
der consideration. Provision was also made
at the last session of Congress for the sur
Vey for a bridge over Rock creek on the
line of Connecticut avenue extended and
it is expected that the completion of both
these projects will result in bringing on
the market more actively than is now the
case a good deal of property that is more
remote or is locked upon as being somewhat
out of the way.
Building Up II Square.
The Improvement of square G4O which
IS bounded by New York avenue North
capitol street and 0 street northeast. by
the erection of houses is being made by
Mr.. Thomas II. Pickford. In the spring he
began the erection of forty-eight houses
WHICH occupy the TWO avenue fronts, and
now he has decided to complete the i'm
provement by building up the remaining
front He will therefore erect sixteen
houses on o street. This is one of the
largest building operations that has been
undertaken within the Old limits of the
city for some time. The houses are two
stories i'll height and the fronts are built
of brick and stone.
As an Investment.
1t is said in real estate Offices that the
demand for houses to rent continues to be
brisk. An owner of sixty houses in the
city said the other day that he had the
entire number now under rent. Rentals
are at such a figure that realty invest
nents yield as good, and in some cases a
better return than the average invest
meht IN other MEDIUMS 1t is pointed out
that if money does not yield more than )
per cent in the various channels of invest
ment 1t Is unreasonable to expect real es-
tate TO yield a larger return. 1t is thought
even when the income from property in
Vestments is not larger than that from
other sources, yet the former has an adj
vantage, for the reason that it cannot be
entirely wiped out, and whatever changes
may occur the property itself remains.
Confidence in the City.
IT is evident that investors in Baltimore
have good deal of confidence in street
railroad enterprises in this city, Judging
proposed issue of bonds of the CITY and
the Suburban street railroad, formerly the
lexington, had been subscribed in that
city some time before the date fixed for
closing the subscription. A million and a
half of bonds We're offered while the SUBJ
scriptlons received ran up to nearly three
millions of dollars. 1t is evident that the
time when it was difficult to float local en-
terprises with large capital has passed
This condition is evidence not only of
the growth of the population, but the in
crease In the wealth of the city, and in its
business interests.
Some improvements.
two-story house is to be erected on O
street between list and North Capitol streets
from plans prepared by b. Frank Meyers
architect. 1t will be 17x40 feet and the
front will be built of press brick and brown
stone.
The same architect has also prepared
plans for a two-story house, to be built on
street between Sd and 4th streets 1t will
be 22x34 feet, with a press brick front and
full bay window.
~ siX-story apartment house. 73x55. will
be erected by Albert Garry at $500 l4th
street, from plans prepared by C. A. Did
den, architect. The front will be of press
brick.
On Brightwood avenue, M C. Levy will
build two frame houses, 25x32 feet.
Two houses, two stories high will be
built by o. S. Humphrey at 226 and OBS
Monroe street. Anacostia.
twO-Story house will be nrected at 1000
Sth street northwest by A R. Shoemaker.
1t Will be 1Gx4S feet and the front will be
built of press brick.
row of four two-story houses from
800 to 2315 e street northwest will be
Quilt by VIM F. Kelly. Each will be two
stories in height, 15x30 feet.