Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1906-01-28
INVESTORS SEEK
BUSINESS LOTS
SCRAMBLE AROUND ARCADE
DEPOT
Several Large Deals In Real Estate,
Illustrating Big Profits and
Lively Interest In
Frontage

The tone of the real estate market
in Los Angeles is all that could be de-
sired Inquiry is active sales are fire.
quent, and more than ordinary interest
Is taken by investors and by those
planning to build in what Is regarded
as close-in business property. The fact
is generally recognized that Los An
geles is growing rapidly, and even the
most conservative operators admit that
present values of business frontage is
not out of the way, but reasonable and
Just.
Much attention is given to property
in the vicinity of the Arcade depot,
where the new 100000 passenger sta
ton is to be erected. Along Third,
Fourth and Fifth streets, east of
Main, and up and down side streets,
active efforts are being made to Sc
cure frontage. Tenants are busying
themselves to secure extended leases
and agents, lawyers and property own
ers are working overtime figuring on
the future.
Among the latest sales near the Ar
-cade depot are the following, all trans
fers. by r. A. Rowan and associates
to w. II. Fleet:
On Ruth avenue, between Fourth and
Fifth streets, 100x100 feet, for $18,500;
50x110 feet on Crocker street, between
Fourth and Fifth streets, for $4,000;
5Ox100 feet on Gladys avenue, between
Fifth and Sixth streets, for about
$1S,5O0; lot 25x100 feet on Towne av-
enue, between Fourth and Fifth
streets, for $4,000; 25x100 feet on Fifth,
between Ruth and Towne, for $16,500;
25x100 feet on Towne, between Fifth
and Sixth, $27,500; 50x10O feet, north
west corner Fifth and Gladys. $4,000;
about 100x1O0 feet on Gladys, near Cen
trail, $4,000; about 100x100 on Towne,
between Fifth and Sixth, $1,000.
Mrs. Arelia B. Seek four months ago
paid $4,000 for a lot 100x110 feet on
the west side of Ceres avenue, 200 feet
south OF the junction of Fifth street
and Central avenue. Last week Mrs.
Seek, through Black Bros, sold the
property for 100000, netting. profit of
$500.
In other quarters Of the city nearly
.as much interest has developed in
making investments. On South Spring
street. around Eighth and Ninth
streets, big things are doing during the
past week.
r.. A. Rowan & Co. sold for Charles
e. Green of San Francisco TO a syndi-
cate composing w. B. Merwin, the
Isaac Bros Co., r. A. Rowan & Co.,
Ben r. Meyer and Tod Ford the prop
erty known as the "Flatiron" for $780,.
0o0 The plot has frontage of 398.52
feet on Spring street. 1913 feet on
Eighth street, and 410S feet ON Main
street. 1t extends from the south side
of Eighth street to the intersection of
Main and Spring streets. The improve
,s.k re f,1,n tuYn- ctfrx I,t.in
buildings and two two-story frame
buildings. The syndicate will cut the
plot into lots of fly feet frontage ex-
tending east and west through the
block, from Main to Spring streets. 1t
is reported that two of the parcels
have already been sold, and that offers
have been submitted to the syndicate
for others. The fact that no frontages
are on the market on Main street,
Spring street or Broadway, except at
high prices and the great cost of i'm
proving the property as whole is
given as the reason for the decision
to subdivide. Mr.. Green, as the repre-
sentative of the Croker interests,
bought the "flatiron" less than six
months ago for 100000.
Charles e. Green sold to an eastern
investor, through r.. A. Rowan & Co.,
the property known as 1.-THE Columbia"
for $195, 000 it comprises a lot 62 IL
feet front by 1876 feet deep, with a two
story brick business building at 612-61S
South Broadway. The walls are of
sufficient strength to sustain the weight
OF three additional stories. which will
soon be added to the building. The
purchase was made as an Investment
about six months ago for $155,000.
Another transfer of Importance in
fixing values was the sale of the lot
On the southwest corner Of Main and
Pico streets, 104 feet on Main and $50
feet on Pico. sold for f. o. Johnson
tn III. d. Smith, through Colson, Bryon
& Bonnell. consideration $4,000 cash
The improvements are nominal.
Agencies handling tract property
state that they are meeting with most
gratifying success in selling lots for
cash and on easy payments. Many OF
the subdivisions have been improved
in high-class manner, and while Il
large number of lots are held by in
yestors, scores of purchasers make Sc
lections for home sites.
Property owners interested in the
further development of Hollywood will
subscribe 100000 to secure the location
Of the proposed Women's college at
that beautiful suburban town. Holly
wood residents are hustlers.
Robert Allen, of W. H. Allen & Son.
Douglas block, has been at San Diego
for several days, negotiating real es-
tate proposition, it is stated, that will
run up into several hundreds thousand
dollars.
Terd X. Rule and son. o. Rey Rule.