The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1910-09-10
Handsome built BY Lester Rc Grand Apcnue heights Ga

unsurpassed in its location with reference to
beauty Of surroundings and accessibility. We
have received many words of praise for this
tract 1t is building rapidly and with su-
perior class of residences. 1t is without douot
one of the finest pieces Of residential property
in the bay cities.
Among the new homes in Grand ave-
nue. heights which are typical of the
character of construction there is that
of Lester B. Reiff. It is one of several
quite artistic dwellings on the tract,
and gives a good tone to the neighbor-
hood.
BIG PROPERTY SALE
George w Austin, through whose
office one of the largest transactions
of the week was negotiated, said;
The sale Of the property situated at south
east corner of Washington and Tenth streets
7jx75 feet. for the account of the NJ Fried
man realty company 10 r. W. Kinney. the
Oakland and San Francisco wholesale dealer in
worthy sales Of realty made in Oakland since
the last boom and for the following
reasons; First it seems TO be the belief Of
many. if not most investors that business in
Oakland south of Twelfth street in Broadway
and Washington street is an uncertain guam
tity: therefore. the rental income from realty
in such district is unstable, and this in turn
detrimentaIly affects the value Of such realty =;
second that nothing indicates probable
change of this status and, therefore, such
realty does not offer any special inducements
10 buyers either investors for income or for
onsetting and seeming to controvert this
impression, the following facts in relation to
the history Of the property now referred to are
interesting:
In the fall Of 1906 this property was sold
through my office for the account Of the Boyd
estate 10 Sig. Klein for $1,000 Before the
expiration Of 90 days it was sold through my
Office for the account Of Klein to NJ. Friedman,
a San francisco merchant and capitalist, for
s12O. 600. Since Friedman has owned 1t the
property has paid him upward Of $4,000 in
rental of which amount at least one-half has
been net gain over and above interest computed
his original Investment. And now my office
has just solo the property for the account Of
the Friedman realty company for approximately
S135, 600 to a shrewd and successful investor.
who sold San Francisco properties to buy in
Oakland. Despite the fact that he has had
offered to him many very attractive buys in
San Francisco, be has shown his superior faith
and confidence in Oakland realty.
The idea that Twelfth street is the line Of
eemarkstion between progressive and retrogres-
siye realty holdings may be dismissed as a
delusion. There is such thing retrogres-
sive realty in Oakland, for Oakland is pro-
gressive. The negotiations which have resulted
so satisfactorily in this transaction were con
Quoted by two Of my business associates. E.
W. Owen for the buyer and John Aubrey Jones
for the seller. It is my expectation to report
shortly the sale to Mr.. Friedman Of another
choice property. Thus it will be shown that
two San Francisco businessmen, who are shrewd,
successful operators in realty. pin their faith
TO Oakland as field for realty investments.