Los Angeles herald., 1906-10-14
OWNERS OF LOTS
REFUSE TO SELL
FAITH OF RESIDENTS IN LOS
ANGELES FUTURE
Local Capitalists Buslly Engaged In
improving Their own Property.
Realty Market In Fine
Condition

Transactions in real estate continue
to furnish abundant proof of the claims
OF realty operators that the Los An
geles market is in decidedly healthy
state, with tendency to rising values,
especially in central business and 'front.'
age that soon will be brought into use
for business purposes.
Many owners of improved property
and lots on which are erected buildings
of comparatively small value refuse to
give even an option on their holdings
but offer to lease for a limited number
of years. The owners are tempted to
sell at present frontage values, and
would do so were 1t not. for their firm
faith in the certainty of still higher
valuations for business frontage.
Recent important Improvements show
that Los Angeles property owners see
big things ahead. They are not selling
to eastern investors and San Francisco
syndicates. They appreciate the value
or their own holdings and are making
costly improvements with their own
money and in, their own name. They
figure to enjoy the full reward of their
enterprise. The Lankershim, Hellman
and Kerckhoff buildings on South Main
street the johnson, Major Norton, Te-
hama company and Hamburger struc-
lures on South Broadway, the Wright
&. Calender ten-story block and other
buildings on South Hill, the Central
Building company's store and Office
building of ten stories on South Spring
and many other buildings of an i'm
posing chara cter being erected on other
streets Indicate the enterprising spirit
of our own people, who now are leading
in the praise worthy task of making Los
Angeles not only "the city beautiful,
but a city of business and office blocks
that will outshine the best buildings of
eastern cities in size and beauty.
Sales of property in various parts of
the city, as noted elsewhere, show in
creased animation in the realty market.
There is no weakness in values in any
direction.
Present conditions are satisfactory
and the outlook is all that could be
desired.
More Industries Coming
Daniel Miller, with Robert Marsh &
Co, is quoted as follows in recent in
terview:
'iThis is not real estate boom, by
any means. The strength of the real
estate market is based on the Increase
in population and the consequent larger
demand for property, both for resi-
dence and business purposes, and there
fore is entirely legitimate. Conditions
in Los Angeles are sound and there Is
no evidence of undue imitation 10 De
found in any direction.
For several years l have made a
speciality of industrial property, and
my records show that the demand for
this class of property this year has
been at least 40 per cent greater than
that for any preceding year. Many
concerns which have been occupying
rented quarters are buying property or
their own, and large number OF new
companies are establishing plants in
this city. One concern on Los Angeles
street is at present negotiating FOR
a lot in the industrial district with
view to erecting a building Of Its own,
and If the deal goes through 1t Will in
yolve an expenditure of about $4,000.
have had several inquiries lately
from eastern houses regarding prop
erty in Los Angeles, and some of them
have announced that. they will send
representatives out here within the
next sixty days with a view to secur-
ing locations. Some big propositions
are involved in these inquiries, as the
land alone which will be needed as
sites for the buildings and plants viii
cost from $4,000 to $4,000.
I'm my opinion there is no better or
safer investment than Los Angeles real
estate at present prices"