Los Angeles herald., 1907-02-17
TWELVE-STORY
OFFICE BLOCK
MARKED ACTIVITY IN LOCAL
REALTY FIELD
Old Structures Giving Way to the
Steady March Of Improvement.
Increased Inquiry for
Home Sites

frequent sales of valuable frontage on
Hill street below Third, and the prog
ress of plans for the erection of big
office buildings, one of which Will be
twelve-story modern structure on the
southwest corner of Hill and Sixth
streets. Innumerable sales of choice
residence lots i'm the southwest section
and In many tracts have been closed.
Agents state that they notice increased
inquiry by strangers who are seeking
home sites, and that all indications
point to a record year i'm realty trans
actions for all grades of property. In
the Industrial district dwelling houses
are being removed to give place to
warehouses and factories, and lumber
companies that have occupied many
acres have had to move off portions of
frontage that have been purchased for
commercial purposes.
1t has been decided that the proposed
office building to be erected by the
members OF the Consolidated Realty
company on the large lot on the south
west corner of Hill and Sixth streets
will be one of twelve stories instead of
ten stories as first planned. This de-
cision was reached at a meeting of the
directors of the company. The build
ing committee to represent the in
terests of the company are John J.
Byrne, A. w. Rhodes. w. f. Demming
and D. A. Hamburger This improve
ment will be one of the most striking
enterprises for the year 1907, and the
style of the building and it's modern
equipment will be a pattern for those
contemplating other high class i'm
proVements 1t is figured by the pro-
moters of the Consolidated Realty COM
pany that the rapid expansion of bust
ness interests along Hill street will at
once create a demand for modern office
nth httCi N1,1ofN1 dot tftoc
that will far outstrip the activity in
building enterprises along that thor
oughfare during the present year and
that the future promises still greater
results in commercial sense.
Members of the Los Angeles realty
3board seem to be in thorough harmony
with the plans and purposes of the
3Outdoor Art club in the movement to
srid the landscape of the unSightly
signs, large and small that now yell
ITO the passerby on the cars and afoot
tthe fact that a certain lot Is for sale
land that the agent whose name is al
ways in big letters can be found at the
designated number The movement
fwas at first inaugurated to wipe out the
big signs, some as large as the side of
barn, and now the sentiment seems to
be favorable to ridding the corner lots
and hillsides of the accumulating
bat a distance, signs that serve in many
Eases to depreciate the value of ada
Gent improved property, to say nothing
fof the blot on the landscape
Judging from expressions of local
gdealers in lumber and other building
materials there is little early prospect
of a substantial decline in the cost of
lsupplies. while Los Angeles is a good
lcustomer," said a local lumber dealer
Hast week, the fact remains that this
field is one of comparatively small con-
ksequence to the trade in general. The
fdemand for lumber in all parts of the
country is something amazing. It's no
fwonder that prices have risen. The
5advance started after the fire in San
tFranciSco. 1t began in the lumber
2Camps and the fever has spread until
feVery department of the business has
fbeen affected If a man builds a home
3now to cost about $4,000 he will have to
4pay 5000 to $400 more for the lumber
than was required before the San Fran
cisco fire. Building has been and still
is active in Los Angeles, but the big
producers of the northwest pay little
attention to the demand here. They
have a wider and much more valuable
territory. The general demand is per-
sistent from all parts of the country"
Among the more important realty
transactions of the week were the fol-
lowing:
Farley Johnson. brother of o. r. John
son, has sold to a local syndicate of in
vestors a lot on the south side of
kSeVenth street, between Hill and Olive
streets for $135, 600. This property has
IA frontage of forty-siX feet and runs
4back 1873 feet to an alley. This places
the consideration on a basis of $2935 a
front foot There is a two-story frame
Dresidence on the lot, but the value of
this is said to have cut no figure in the
deal. The sale was made through
Robert Marsh & Co., w. B. Merwin and
r. A. Rowan & Co.
Among other transfers on Hill street
through the agency of Mines & Parish
was the property at 344 South Hill
street known as the Hafen house, lot
46x145 feet to a thrty-foot alley, sold
by A. l.. Scofield to George p. Thresher
and associates for $115,OOO, The month
ly rental income is over $5000
Another Hill street sale was closed by
w. |, HolingSworth & Co. George p.
Thresher and associates bought from
the Los Angeles Trust company, acting
as trustees, lot on the west side of
Hill street, between Seventh and
Eighth, for $150,00O. The lot has a
frontage of sixty feet and is 165 feet
deep, placing the consideration on the
basis of $2500 a front foot. There are
no improvements on the property at
present, but it is said the new owners
are contemplating the erection of a
large building on the site before the
end of the year.
A lot on the south side of Seventh
street, between Wall and San Julian,
was sold by G. A. Smith to the Southern
California Trust company for $4,000
The sale was made through w. b. Mer-
win d Co. The lot is 6Sx145 feet in size
and contains improvements of little
value.
Mrs Nellie Wiley purchased from a
local syndicate a valuable lot on the
west side of Hill street, 222 feet south
OF Sixth street, 50X150 feet to an alley
the lot being the south fifty feet of the
old Y. M c. A. lot which had a 'front.'
age of 1926 feet, that frontage selling
some weeks ago for 100000, The fifty
Ieet bought by Mrs. Wiley cost her
Slal 300 at the raIA n s9IAn a front