Los Angeles herald., 1906-12-02
REALTY MARKET
CONTINUES Brisk
TRANSFERS DOWN BROADWAY
AND HILL STREET
The Tulane and Lille Hotels Bought
by Investors for $24o,o ,ooo-sampIe
Double Sale at Quick
Profit

The real estate market during the
past week has been fairly active de-
spite the nid-weelk holiday and the
unusual severity of the weather All
conditions are bright now for increased
activity. Funds appear to be plentiful
and syndicates of investors are par
ticularly enterprising in picking out
desirable corners and close-in inside
business lots. Little or no valuation
is placed on Improvements. Those
who purchase business frontage on
Broadway, Spring or Hill streets do
so with a view of erecting modern
structures. Plans have already been
made for the early erection of many
new eight and ten-story buildings in
addition to those now in course Of
construction.
1t has often been stated that Los
Angeles "builds by the mile" ]. j.
Backus, chief inspector of buildings,
has estimated progress in this line for
the year 1906. He shows that fully
thirty miles of new buildings have
already been erected this year, with
those to be built this month to be
added.
On Hill and Broadway
The principal sales during the past
week have been confined to Hill and
Broadway.
Robert Marsh & Co. and Mines &
Parish were kept hustling Wednesday
closing a double realty deal on Broad
way. The two agencies sold for e. f.
G. Klokke to DR.. w. j. Davis the
northeast corner of Tenth street and
Broadway, being 5Ox90 feet to alley,
for the sum of. $125,000, or at the rate
of $2500 per front foot
The agencies also resold for DR..
Davis hpfOrp the nnnarS for the deal
had been recorded to r. b. Sumner
for an advance of $5000 or at the rate
of S2600 per front foot, or for $13O,0OO.
This property is improved with a
two-story brick building and is con-
sidered an exceptionally good buy.
A. Il. Halsey reports having sold for
DR.. NJ. L. Moore to a local syndicate
the property at 1149 South Hill street,
60x159 feet, for $5S,600, being at the
rate of 1915 per foot.
Another notable transfer was made
through Robert Marsh & Co: and
Mines G. Parish, who sold for A. w.
Bumiller and Ea T. Off to Helen Hay
den and associates the Hotel Lille
I soperty on the east side of Hill street
/ tween Fifth and Sixth, for $1a5, 900.
The lot is 60x155 feet in size. 1t Is
improved with large three-story
frame building used for hotel pur-
poses and which yields a rental income
of $500 a month. Including this inn
provement the price paid for the prop
erty figures at the rate of $2250 a
front foot.
The Hotel Lille property faces Cen
trail park and is situated in the direct
line of the present trend of develop
ment. The price paid for it compares
favorably with the values at which
some of the property Immediately ad-
joining it is held. 1t is understood
the new owners have made the pur-
chase for investment purposes.
Alice L. Chevallier has purchased
from NJ. F.. johnson three lots in the
Stewart Nursery tract at the south
east corner of Figueroa and Thirty
first streets for $4,000, or $100 foot
for the Figueroa street frontage. The
property is 159 feet on Figueroa by
$50 feet on Thirty-first. These lots
were bought year ago at price
which nets the present seller profit
of about $4,000.
S. S. Federman sold to Lawrence
Hohl through A. T. Jergins & Co. a
lot S0X127 feet, being the southeast
corner of Pico and Valencia streets,
improved with a modern, two-story
pressed brick store and apartment
building; consideration s4250O. There
is an odd coincidence connected with
this sale, as Mr. Hohl sold this block
months ago for $4,000, and while the
consideration paid to Mr. Federman
was $500 more than Mr.. Hohl received
at the time he sold, the price is not
high as past and present sales show
a great increase within the past few
months of property values on this
street.
"The Tulane" property was sold Fri
day through w. B. Merwin & Co. for a
local syndicate, the heaviest owners in
which were Mrs. Clara b. Burdette and
H. G. Cotton, to George S. Gay. The
property is situated on the east side
of Hill street, between Third and
Fourth streets. The size of the lot is
42X145 feet, improved with a three-story
brick building. Price, $105000. The
syndicate bought this property through
the same agents exactly three months
ago for $4,000.
Rexford Coulter has sold to H. Hoff-
man and Myers Bros, through the
Wright & Calender company, a lot on
the east side of Broadway, 200 feet
south of Eighth street, for $16000O,
This lot, which is 50x165 feet in size,
was sold by Dwight Hart last February
for $125,0 and therefore shows a rise
in value of $4,000 in period of ten
months.