Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-02-11

changes have been made have been rath-
er to increase the rent than to make
ment houses have in any way detracted
from the demand for homes, whether in
the older built downtown district or in
the newer section on the heights about
the city.
There are q large number Of people of
limited and moderate means coming to
Washington and purchasing houses and
making their permanent homes here.
Never before has there been such a con-
dition as exists at the present time
1t has been said that Washington is the
gateway to everywhere" north, east
south and west.
apartments. This applies particularly to
the high-grade apartments, renting from
SI,5O to $3.50 per year, in a larger sense
than to the moderate-priced apartments,
renting from $500 to $500 per year.
Assessment Records Tell Story.
The assessment records of the District
OF Columbia show that very few of the
apartment houses in Washington are at
the present time owned by the builders
| or by the first parties to whom the build
ers sold them. thus showing that this
class of investment property can be trans
ferred from purchaser to purchaser.
1t is reckoned that business property
yields from to 8 per cent gross; that
houses under 5000 in value yield from
I'1 to per cent gross on the purchase
price. while apartment houses yield from
TO to ID per cent gross on the purchase
price. 1t must be taken into consdera-
ton that the operating expenses of bust
ness property and apartments are at
| about the same ratio as compared to
value. The business property uually Ell
hances in value, hence the investor looks
to such increase for his returns rather
thar to a large income on the money in
yeSt0d. ~
realizes that it will increase In value in
proportion to the size Of the investment,
and that he has property that is easily
transferred from purchaser to purchaser
on account of the small amount Of money
involved. But the investor in apartment
houses not only sees his increase in value.
but his income is from IS to 16O per cent
more, and in the course of a term of wears
the income alone will be as much, and
perhaps even more, than the enhance
ment in the valuation of the business
property. Concrete examples could per-
haps be cited to prove this theory Of in
vestment.
Apartment Building Regulations.
There is no city that is favored with
such liberal and at the same time such
strict building regulations to insure the
safety Of the lives OF the tenants of
apartment houses and at the same time
afford conditions that tend to improve
| health and the permanency of the prop
osition from the investors standpoint.
There is very little shoddy apartment
| house building in Washington Much i'm
provement has been made in the build
| ing regulations locking to the safety of
| the buildings Of this kind Practically
all Of the apartments In Washington
have plenty of open windows, affording
ventilation and sunshine. The limit Of
| the height OF an apartment building is
seven stories and any building over four
stories high must be absolutely fireproof.
| Any apartment building constructed un-
der the present building regulations is
required to be fireproof up to the second
| floor and all of the Railways must be fire.
proof. so that blast of flame could be
sent through them and do no injury
Ample iron starways and iron fire es-
capes are provided by the building reg
ulatiOns.