Los Angeles herald., 1905-07-13
SOARING VALUES
IN RED0ND0 DEALS
PROPERTY CHANGES HANDS AT
AMAZING PROFITS
LIST OF FEW SAMPLE SALES
English Bank Block Jumps From
$4,000 to $95, Front
age Advances Wonderfully In
VaIue-Resldenc Lots

Aside from Mr.. Huntington's pur-
chases, the largest deal yet consum-
mated in Redondo was the sale of the
English property, which has about
seventy-five feet frontage and is i'm
proved with two-story brick, in which
Ii located the Farmers and Merchants
bank.
This property, which might have been
purshased for $4,000 a few weeks ago,
sold Sunday for $6o,00O. Two hours
later it was re-sold for $4,000, and
since then it is said the owners have
refused SIS, 900 for the block. ssf
Other Big Advances
Across the street from the English
block, on the water front, is the Cutler
block. a two-story frame building with
fifty feet frontage, which sold for
$4,000 Sunday morning, and was re-
sold for $4,000 Sunday night. 1t Is
said. the purchasers have refused $So,OOo
for the property since.
S. D. Barkley, editor Of the Redondo
Breeze, bought lot on the front
street one year ago, 25x1S5 feet, for
$4,000. Tuesday he sold this property
for 100000.
The Murphy saloon, with fifty feet
frontage, sold Monday for $4,000, and
1t is said the purchasers are now hold
ing the property at $4,000. having been
offered several thousand dollars in ad-
vance of the price they paid.
None of the twenty-five foot lots on
the front street have sold under $4,000
since the boom started. But few
weeks ago these lots might have been
purchased at prices ranging from $2Ooo
to $4,000. Now most Of them are going
for $4,000 and over.
In Residence Section
Activity in the residence portion OF
Redondo is on par with the FEVER IN
the business section of town. one
block back from the front street forty
foot lots which sold for few hundred
dollars only a couple of weeks ago
are now being sold at from $4,000 to
$4,000 each. One man, who paid $1,000
a month ago for a lot two blocks
from the front, is holding the prop
erty at $4,000, and says he will get
his price within the next twenty-four
hours.
Mullen & FEEDER have disposed of their
carnation gardens, covering a .triang-
ular block, located nearly ten blocks
from the front, for $4,000 This prop
erty a month ago was not considered
to be worth one-half that price, 1t is
said.
e. Jenson sold his property, 5Ox150
feet, improved with two small cottages
and located one block from the front
street, for $4,000.
The increased valuation of property
in Redondo during the past few days
surpasses anything of the kind known
in this section since the boom days OF
'S6, and yet those who deal extensively
in realty say prices are not at all un-
reasonable; that the town Of Redondo
has a future which. warrants the sale
of property at the apparently stiff
prices that are asked
Lots away from the front at Redondo
which sold a month ago at from $500 to
$3.50 are now being disposed Of at prices
ranging from $1,000 to $500. Improved
lots bring more money OF course.
There is a big demand for beach lots,
and what is known as sand hill prop
erty is quoted 500 per cent higher now
than 1t was two weeks ago.
Matson Hill OF Chicago, Charles Nc
Farland. Harry Lombard, H. H.
Rogers. r.. A. Rowan, e. ID. Silent.
Julius Conrad and others were among
the prominent realty operators at Re-
dondo yesterday Mr. Huntington has
been in the crowd ana has taken a
interest in many transactions.
Automobiles. carriages and various