Los Angeles herald., 1906-01-21
REALTY VALUES
CAUSE COMMENT
VIEWS OF OPERATORS ON CITY
AND TRACT PROPERTY
s5oo,ooo Union Depot to Be Erected on
the Arcade Slte-Development
In Boyle Heights-High
Building Record

kent guessing for q time one day last
week while going the rounds to reel
the pulse of the realty market. Natur-
ally he drifted into the offices of some
OF the leading operators in Los Angeles
soil. the chief asset OF which, aside
from the growing commercial and in
dustrial Importance OF the city, IS GU
mate, the best and most charming TO pe
found in any part of the whole world
The agents operating in central busl-
ness and semi-buSineSS property Sa1d III
substance that It is in these districts
where money can be safely invested,
that there were too many tract propo-
sitons on the market, and that the
man or syndicate that buys business
lots does not do so for speculation, but
for improvement, or after being COLI
WINGED that the lots bought viii soon
come into demand for business pur-
poses. They keep in touch with the
trend Of business in every part of the
city and never lose an opportunity 10
snap up a good thing. Options are OBJ
tained and the hustler5 close the pur-
chase for individuals or a syndicate.
Many buy for investment, but more
often the sales are made for immediate
improvement. Much reliance IS placed
upon the experience and Judgment or
realty agents, who would no more think
of trying to fool a customer than they
would their banker, and men of means
can readily be found in the community
who will make short or longtime in
vestments in business property.
Dealers in tract or outside property
arc fully as confident of netting good
returns as are the central business ope-
rators. They assert with truth that Los
Angeles is growing at q wonderful pace
and that the people want homes-homes
near the sea close to the city, or near
the mountains. Provision has been
made to accommodate everybody and
the rapdity with which lots are sold in
the various subdivisions indicates that
buyers are on the lookout for de-
sirable property. The lots at
present values are considered bargains,
and as terms are easy the people con-
tinue to buy, a fair per cent of the
purchasers making selections for home
sites.
One of the leading real estate oper-
ators stated last night that he knew of
several big transactions in central
business property in Los Angeles that
would be closed within the next thirty
days The aggregate value of the prop
erty is said to be close to $3,00O,00O.
Official announcement is made that
the Southern Pacific and Salt Lake
railroad companies will erect q SOOO,OOO
union depot OH the site of the Arcade
station, Fifth street and Central ave-
rue The building will be of the mis-
sion style of architecture and will COM
bine all of the modern conveniences Tor
the use of the travelling public and the
railroad companies. The statement is
made that operations on the proposed
structure will be inaugurated within
month and further information is given
TO the effect that a 900 depot Will
be erected on the San Fernando street
property, where some weeks ago it was
emphatically stated that the union de-
pot would be built
Now that the site for the proposed
passenger station is finally settled,
property owners will get busy again on
the east side and build for the future.
Many investors and business men near
the Arcade pinned their faith on the
promise that the Arcade ground would
be selected for the new depot and
naturally all are in high spirits over
the outcome.
In the list of twenty-six principal
cities of the United States given by the
Chicago Construction News as show
ing the volume of improvements for
1906 Los Angeles occupies eighth place,
with "A gain of IA per cent. The total
valuation of Improvements for the
twenty-six cities for 1905 was $52S, 1856
412, against $375;571, ,130 for the year 1904,
IL gam VI ~ pei Ctllls ACLlNlLy III lliS
building line in the various cities was
simply wonderful, breaking all former
records. The present year in Los An
geles promises to outstrip all others in
the number and value of Improvements.
The percentage of gain for 1905 over
1904 was: New York, go; Brooklyn,
"A; Chicago, 32; Philadelphia, 81; st.
Louis, 60; San Francisco, 81; Los An
geles, IA; Kansas City, 81: Detroit, 81
Indianapolis, rs; Cleveland, As; Buffalo,
II; Minneapolis, 32; st. Paul, So; Allie
gheny, 3; Columbus So; Louisville, 95
New Orleans, 3d. Denver, So; Washing
ton, 81: Cincinnati, So. Percentage of
loss; Memphis, 8: Atlanta, IT; Pitts
burg, 6; Seattle, 49,
Further substantial evidence of de-
velopment is shown in the charming
Boyle Heights residence section. Re
Gently leading realty firm purchased
a ten-acre tract on the northwest COR
ner Of Stephenson and Euclid avenues,
one Of the choicest sections of the
Heights district The tract has been
subdivided and a sale Office established
in the corner by Agent Williams. The
handsome lots will be sold at $1,000 to
$4,000 each. On the corner east the
board of education will cause to be
erected in the near future a large
school building. Last week members
of the board visited the ground and de-
ClueQ 10 purchase lou TO square Ine
plot, 1t is also noticed that the eX-
tension of the double electric railway
track from Boyle avenue to Euclid ave-
rue on Stephenson avenue is COM
peted, and that the poles are up for
the railway line on Stephenson ave-
nue. out to the eastern limits of the
city. 1t is known that the line will
be built to the cemeteries. How much
further the service will be extended is
not known, but it is expected to go
to Whittier
During the past few weeks consid-
cradle progress has been made by the
Pacific Electric Railway company in
paving the way for the important
changes that will be made to improve
the suburban service of the street car
system for the public The company
owns over block east of the Hunt
ington building, The ground has been
cleared of nearly all Of the buildings
TO make way for elevated entrance to
the Huntington building from the east
gidp that parS FOR all 4,