Los Angeles herald., 1908-11-15
APPRECIATION DUE TO CITYS
GREAT GROWTH
Daily Arrival of Hundreds of Perma-
nent Settlers Induces Values to
Constantly ncrease-OutIook
for the Future
BY o. E. PARISH

~ OL 4LAA11NNT VI investment DrOD-
critics they should be classified as
business, semi business, industrial,
close-in, fiat or apartments. In Los
Angeles it is difficult to purchase well
improved properties of this kind. Us
ually the owners of such properties are
we'll satisfied with their holdings, and
fully realize the additional value that
will naturally accrue by reason of the
rapid. growth resulting from the daily
arrival Of hundreds of persons who
come here to locate. 1t is a very nota-
bic fact, and especially to the real es-
tate men, that there is very little if
any well improved downtown business
property for sale today. 1t is true that
there are a great number of pieces of
business property for sale, but upon
investigation one will find that such
property is vacant or only partially
improved. And while the value a
front foot of this class of property has
increased very materially and rapidly
in the last few years, yet at the price
now asked one can put the improve
ments upon such property and make it
pay interest on the total cost of from
8 per cent to Is per cent per annum,
The future welfare of Los Angeles, as
warranted by the present outlook in
the real estate market, is most promis-
ing, and this conclusion can easily be
reached by any person giving this
matter proper thought and due con-
sideration.
The value of real estate in any city
depends largely upon what improve
mentS one can put upon the same, and
what rent can be secured therefor.
This is especially true of business,
semi-business, Industrial, manufactur-
ing or close-in, well located property,
for flats or apartments, and at the
price at which this class of property
is now held in Los Angeles anyone can
buy it, improve it and secure a net
rate of interest on total investment of
from to u per cent per annum, and
this without any question as to the
future increase of the value of the
ground, which increase is sure to fol-
low as night does day.
Of course, there are other commodi-
ties besides real estate, and many of
them; but don't believe there is an
other as stable as the EARTH. In my
opinion, it is Ut"
Great Increase in Values
Real estate and climate are the most
valuable assets Of our city, and al
though values have risen very rapidly
WAlIlln lAIG past SGNGn years. Jul III
crease in population in the city and
tributary territory. 1 think, fully war
rants the increase. Some of our busi-
ness property has increased in value
tenfold or more since 1900, and our
residence property has increased three
fold or more. Yet, with this increase,
our highest priced business property is
reckoned at $4,000 per front foot, which
equals the sum of 100000 for a lot of
fifty feet frontage, by usual depth of
$50 feet, and our best residence lots at
about 800 per front foot. Our popula-
tion in 1900 which was 102, ,479, is now
estimated at 100000. The rate of inter
est heretofore named can be realized
on our property at the prices above
mentioned, and / ask if these prices are
higher than those of other cities of
like population?
AS to our growth in the building line
since 1900, I submit the following tabu-
lation taken from the records of the
building superintendents office:
Permits. Value
GO nos