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The Los Angeles Times from Los Angeles, California • 59

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Los Angeles, California
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Page:
59
Extracted Article Text (OCR)

The Only Sunday Real Estate Section Published in Los Angeles fern -A. jv REAL ESTATE INDUSTRY DEVELOPMENT SUNDAY MORNING, JULY 7, 1929. SIX-MONTH BUILDING FIGURES SHOW PROSPERITY pOINTS AS0 FOINTERS Apartment Hotel Site 123x115 TO ALLEY OS BERFNDO STRFET. BETWEEN gEV-ENTH AND EIGUTK. This ItHotian Is sn the brut in clt from rental stand.

point. Our rice and terms are exceptional. Mirbt take in amall amount exehansr. This il Class oropertr properly rk" See CHARLES G. A5DBEW GREAT SPURT IN Long BeaciMarks Record-Breaking Era in III III i Construct ion Ml" iil 4 3 J- i 9 fy CONSTRUCTION GAIN NOTED FOR FIRST HALF OF YEAR Southland Leading Pacific Coast in Structural Activity as Many Cities Report Increases BY ROSS GRANT The first six months of 1929 has been a prosperous period for Southern California builders, according to detailed figures obtained from seventy-three cities.

This data, compiled exclusively for the Los Angeles Times, shows construction during the period in question totaling $113,313,517, as compared with $104,915,290 1i "ijt ji5. Si 1 Fw. rf Fir 8. n. fl III i i .1 III Rfil OCEAN CENTER.

If inn V' rv i FACT AND COMMENT CALIFORNIA i real estate salesmen, and there are 65,000 of them, who next month start taking compulsory examinations for their State licenses, are giving the procedure whole-hearted indorsement. Such Is the report of Glenn D. Willa-man, who as secretary of the State association, comes into close contact with brokers in every section of California. "When the measure was passed by the State Legislature making it compulsory for all salesmen to take an examination for a license," says Mr. Willaman, "we had anticipated an avalanche of criticism.

It was only to be expected that men who had been in the business for years might resent being asked to qualify, by written examination, for the right to continue In that business. "The criticism, has been negligible. Everywhere throughout California real estate men have backed up tha examination unqualifiedly. They realize that it will eliminate those who know little or nothing about real estate from the field of selling, and produce more ethical standards. They may consider the examination a slight inconvenience, but they know that in studying for it their minds vill be refreshed on the technicalities of real estate and for that reason it will prove highly valuable." This report by the State secretary is gratifying and again demonstrates that the California real estate dealer is heart and sole for any move that will place his profession on a higher plane.

BUILDING NOTED Construction Broths Record at Long Beach Six Business Units Rising Simultaneous' 'y New Edifices Cost Total of $3,150,000 LONG BEACH, July 6. (Exclusive) Six major buildings now under construction at a cost of reflect the commercial expansion which has followed the residential spurt in building here for the last year. Three of the buildings are homes for expanding mercantile institu- tions, one is a height-limit office building on the beach, one a radical and professional building and the other a cafe and hotel structure. The Marti Building, erected at a cost of $750,000 at Fourth street and Pine avenue in the heart of the shopping district, represents the expansion of what was a small store six years ago. The second unit of the department store is nearlng completion.

i'he first unit was occupied a few months ago. The Marti Company will occupy the greater part cf the four-story structure. Leases which will bring nationally known chain stores to Long Beach have been signed for the remainder of the building. The $500,000 addition to the Wise Company department store, erected at Broadway and Pine avenue, likewise represents the development of what was a comparatively small store five years ago. The concrete work on the new buildlnjr Is rearing completion, revealing the structure as one of the most beautiful department stores in the Southland.

Barker Brothers' new building at Broadway and Locust avenue, to cost $200,000, is rising rapidly to its eight-story height. Like the Marti and Wise Company development this building reflects the tremendous growtn or mercantile business in Long Beach in the last few years. new structure erected (Continued on Tage 2, Column 2) I ih A A fill! sU 4 LAPA.V YA WISE. h4d I lor a similar period In 1928. This showing is of particular slg nlflcance when compared with that of the balance of the Pacific Coast.

Figures obtained from northern cities show a general dropping off in all building, the combined totals for San Francisco, Seattle, Portland, Oakland, Berkeley and Sacramento being approximately $5,000,000 less than a year ago- at this date. Of these cities San Francisco alone is keeping up its pace of 1928. Los Angeles proper has made a healthy record with a gain of $2,000,000 for the six months1 period. California Icities making ex ceptional records in 1929 are Long Beach, Beverly Hills, Ventura and FORTY-ONE CITIES Forty-one Southern California cities contributed to the fine mark of the Southland at the half-way mark to 1929. Included in the municipalities whose half-year totals exceed those of a year ago, are Los Angeles, Long Beach, Hollywood, Pasadena, Beverly Hills, Ventura, Venice, Santa Ana, Whlttier, South Gate, Van jNuys, San Bernardino, Vernon, Compton, Wilmington, San Marino, Alhambra, San Fernando, Arcadia, Santa Paula, Ful-lerton, Culver City, Palos Verdes Estates, El Segundo, Maywood, Santa Maria, Azusa, Torrance, Anaheim, Bell, El Centro, San Gabitel, Clare-mont.

Harbor City, Visalia, Tulare, Monterey Park, La Verne, Glendora, Lindsay and2xeter. The month of June saw construction for the Southland at a point approximately $1,000,000 less than a year ago, but the six months' figure more than offsets this recession. Los Angeles accounted for the greater part of the lass, falling to approach the particularly active June of 1928. MANY HOUSES BUILT An analysis of all building In Los Angeles for the first six months of the year shows 25.2 per cent of the total devoted to residential This will provide accommodations for .9179 families, accord-' ing to data compiled by J. J.

Backus, superintendent of building. The six months' period saw permits taken out for 3632 dwellings, 416 apartment buildings, forty factories, 108 filling stations, 249 mercantile buildings, twenty, motion-picture studios, fifteen churches, eleven twenty airport structures, fifty-eight industrial buildings, twenty-six office buildings, twenty-three schools, eighteen' hotels, seven hospitals, forty-one shops and forty warehouses. CHURCH TO BUILD Contract has been awarded to Wurster Construction Compnay, Los Angeles, for erection of a chapel building at Westwood for the West-wood Community Methodist Episcopal Church, according to Architect Gordon Kaufman. It will be reinforced concrete, approximately 90x48 feet in size and will cost A Sunday school and church building will be erected at a later date. v-i KX' Sta.

Monica Palisades OCEAN TIEW I.OT. Alm Real Brire a-iil Potrers Canyon. to be sola far below its cost. Sea GLF.VH N. DEI KL.

Wilshire Blvd. Corner EAST OF WESTERN; 150x140 INCOME ABOLT dllinno A TEAR GROSS. Br far the eorner between ern and Vermont, and the term are very reasonable. This eorner bar, exceptional speculative possibilities. fit Inrnrmitinn oyer telephone.

See CHARLES. O. ANDREWS. Industrial Tfl.WXI 8QTARE KET. GOODYEAR PAIR TRACT.

All puhtlo Dtilities In. OITered br. low any rnmpetitir prire In the tract. Location, 58th street between Araton and Cenlril. Se GLEMV N.

DEIEL. Claries Aircwste: REALTORS. 714-1S PACIFIC MLTI AL BLDO. Mltn.ll 8181. WELCOME I TO CALIFORNIA B.P.O.E.

WE CORDIALLY I.WITE VISITING RE TORS TO THE ELKS CONTENTION TJ MAKE CSE Or OIK OFFICE FOR AN INFORMATION OR ASSISTANCE WE MAT RENDER. WE ARE LOCATED NEAR TOl .1 DOWNTOWN BOTE'S, NORTHEAST COIN NEB Of FIFTH AND SPRING STREETS, SUO ROWAN BLDG. I HONE TRInlty eillt Close4n Corner FAMILT HOTEL OR APARTMENT oil ABSOLITELY THE BEST Bl'Y IN TI CI.OE-IN DDW.IiWVN A3EA: I.AFfit; HIGH, NIGHTLY CORNER ON TWO -JOB THOROUGHFARES. NEAR NKH LIMIT-IIEiGHT Hl'ILOINGS. ONLY A FOOT.

R4HILY FINANCED. WILL PRO. DICE WONDERFl'I, REVEM'E IF ADF-UtATELY IMPROVED. INFORMATION ONLY AT OLE OFFICE. WILSHIRE CORNER IS A CHANCE TO PVT IV lnfl.i,l AR.

GOOD VACANT OR I.MPROVEI PROPEBTV. HHIO.nm CASH. AV ASSUME l.VMHMI, FR A NKW. lODER SI IUHXG CI.OE TO HILIOCK'S NE'f HHOP. SHOW'NO NOW NET ON TOTAL PI RCIMSr.

I'P'C. SAFE. SOl'ND, CONSERVATIVE INVESTMENT- nOl'ND TO SHOW A HANDSOME CHOKf AS WILSHIRE MA D. DEVELOPS IV. FORMATION ONLY AT OIB OFFICE.

PHONE TRInlt OISI. REAL ESTATE BENTAI.S INSURANCE" SCO ROWAN FIFTH AND SPRING. POPULATION 19 3 0 LOS ANGELES 1,500.000 BUSINESS INDUSTRIAL AND RESIDENTIAL IF YOU ARE tORll'NATE ENOUGH TO PURCHASE WELL SELECTED LOS ANGELES REAL ESTATE, VNDER-PRICED, TCOV WILL MAKE A PROFITABLE INVESTMENT. LET VS HELP YOU REALTORS, W. M.

GARLAND BUILDING, SPRING TREET AT NINTH. FAbcr 4041. TPanity 9S51 Canyon Park Protests Strenuous objection has been voiced to the proposed municipal park in Santa Monica Canyon and these objections promise to crystalize August 12 when the City Council hears protests against the confirmation of assessments. In the first place the desirability of a park at this point is doubtful The county-owned strand near by seems to meet the recreation needs of the public. The limited area of the project, three and a half acres, is to itself an argument against the park.

Real estate men, surveying the land, declare it much better suited to income property than to playground purposes. The main objection to the plan is the price of $70,000 per acre set on the tract by the referees appointed by the court. Surrounding acreage can be purchased for from $15,000 to $20,000 per acre and land comparatively close is available at $10,000 per acre. The continued soundness of California land as an Invest- (Continued on Page 3, Column 6) it 1. i sS I bMM Mil CAFE yjW SPORTSMAN WILL BUILD SHOWPLACE Beverly Hills Man Erecting Mansion North of This City to Cost $500,000 A $500,000 estate, which, it is declared, will become one of the show places of California, Is under construction in the foothills of the Santa Susana Mountains for E.

John Brandeis, Beverly Hills millionaire Moss and Van-degrift, contractors, 358 North Rodeo Drive, are erecting the mansion on plans prepared by Don Uhl, architect. The. estate will be known as the Open Diamond Bar Rancho. It comprises 140 acres and will include many buildings. Early California architecture Is predominant, the buildings being of the low, rambling type with adobe walls, heavy hand-hewn timbers and hand-made clay tile roofs.

Other improvements are a cham-plonship-slze tennis court, large polo fisid. swimming pool and bathhouse, "dance pavilion, handball court, croquet court, teahouse, tiled power house and a substantial -size bridge. A miniature lake will be stocked with fish and equipped for canoeing." Suggestive of olden, golden days is the main residence, 126 feet long, with its broken roof levels and four-foot thick walls. Every room In the house has its own rock, open fireplace for burning logs, the one in the living-room being built of heavy volcanic rock and of Babylonian proportions. Another unique feature of the two-story living-room is the walls and mahogany plank floors, which will be covered with the heads and skins of sharpu.

Dras sheep, ovis ammon, lions, tigers, leopard, rhinoceroses, shot bv Mr. Brandeis In Africa. India and Tibet, on his big-game hunting 2 JURY OF AWARD STUDYING PLAN Winning Design Selection Expected Soon Selection of the prize-winning designs for this area in the 1929 National Better Homes Architectural Competition may be completed by the end of the coming week, according to David J. Witmer, chairman of the Jury of awards for the district comprising California and Nevada. The Jury will meet again tomorrow at 2 p.m.

to resume deliberations, which were begun last Wednesday. Mr. Witmer also announced that, at the request of the naitonal directors of the competition, the local Jury, of awards will not reveal the identity of the winners of the three prizes of $500 each in the local district until after the prize-winning designs have been sent East and the winners of the national competition have been selected. It will be recalled that the three prize winners in the thirteen districts over the country are to be sent to New York, where thep automatically become entries in the national competition for three prizes of $5000, $3000 and J.vf r7K' SECRECY 'DECIDED It is the desire Of the national directors to preserve the anonymity of authors of the prize designs in the local competition until after the national Jury of awards has viewed them and selected the winner in the conformity with the competition rules of the American Institute of Architects, whose regulations are being closely followed to this competition. For the above reason none of the envelopes containing the names and addresses of the authors of the designs corresponding to the noms de plume will be opened until the no tification permitting such step isJ receivea irom New xorK neadquar-ters.

TO RETURNS DESIGNS It Is the Intention of the Home Owners' Institute of New York, sponsors of the national competition, and The Los Angeles Times, sponsors of the local competition, to return to the authors such designs as are not winners or which do not receive honorable mention, where such return Is requested and the request is accompanied by, postage and directions. This cannot be done, nowever, unui me national com- petition is over. TRinity 1131 Five Projects Under Construction With building records' for Long Beach shattering all previous records inhabitants of the city are watching with interest the construction of the five business units pictured above. Six major improvements now under construction are costing owners approximately $3,500,000. Fine Zone Lot In Wilshire Dist.

Located on Hobart between ahire and Beverly Blvds. LARGE HOME AT VENTURA ANNOUNCED Wans Completed for. House of Rooms for Stores Manager VENTURA, July 6. Exclusive) Plans lax a palatial California!) style home which is expected to be the largest, most costly and most complete residence in Ventura county had been completed today by Architect Harold E. Burket for Amos N.

Lovvorn, manager for the J. C. Penney Company stores in this district. The house is to cover a grounl area of 110 by 140 feet and will contain twenty-one principal rooms in addition to a large number or ssrv-Ice and auxiliary rooms. McKown Keuhl, Beverly Hills landscape architects, are now busy moving in trees and shrubs.

The dwelling is situated at "the southwest corner of Lincoln and Monita drives, in Hobson Heights, on one of the most sightly hillside lots in the A sweeping view of the-channel harbor, Santa Clara Valley and east end residence section is afforded. Fee Schedules Declared Same in Many Cities Twenty-five boards in California use the same schedule of fees as that adopted by the Los Angeles Realty Board, It is revealed in a re port- on a state-wide survey of real estate board schedules made by the uniform fees committee or the California Rear Estate Association. Paul S. Bomberger, Modesto, chairman, conducted the survey which included over 100 cities. The twenty-five boards are: Alhambra," Arcadia.

Azusa, Bakers- field, Bell, Beverly Hills. Compion, Downey, Glendale, Huntington Beach, Inglewood. Long Beach, Los Angeles, Montebello, North Hollywood. Pasadena. Redondo Beach, San Diego, San Fernando.

San Marino, San Pedro, Santa Monica, Van Nuys. West Hollywood and Whlttier. Boeing Airport Construction to Start Soon NORTH HOLLYWOOD. July 6. (Exlusive) Following several weeks work of grading, landscaping and laying out of grounds, the first actual construction work on the Boeing Airport on Cahuenga avenue, adjoining North Hollywood on the east, has been started with the erection of tool houses.

The Austin Company is the contractor. J. P. Hayes, engineer ior ine contracting company, states, that the work of building three nangars, several factory buildings and an administration building will be commenced at once. BUNGALOW COUET STARTED MAYWOOD.

July 6. (Exclusive) Forrest Phillips hes started the erection of a $24,000 bungalow court at 3652 Fifty-eighth street The units are to be one-story structures, and there will be a total of Wil- Size ATTENTION SUMMER VISITORS WILSHIRE BOULEVARD LOS ANGELES "FIFTH AVENUE" Puente Walnut Grove On Black Walnut Roots 27 acres. Trees all Budded tias, on Black Walnut Roots. Grove 9 years old. Fine Crop set on Trees.

Good Corners on 2 Boulevards. Price $65,000 clear. Want Long Beach Income. Prefer Business Property with Apartments above. Must be priced Right to be considered.

-See MR. GILLIES Good 6-room Bungalow. Price Reduced to $13,500. Will take Lot up to $4000, $2000 in cash and Balance Mortgage. La Brea-Wilshire Dist.

New 4-FIat Building. Absolutely the Latest in Every Detail. Extra Heavy Construction. 20 Rooms. Spanish Stucco.

100 Rented to Good Tenants. Near Wilshire and Brea. Income $3300 per year. Price $30,000. Mortgage of Take House or Lot for Equity.

See MR. MOORE 'A Few Good Exchanges $150,000 -Seattle Brick Apartment Hotel of 125 Rooms and 2 Stores. Good Secured Income. Want Clear L. A.

Income Property. ALHAMBRA PROPERTY SALE MADE Two Parcels of Business Property Sold for Sums Totaling $425,000 ALHAMBRA, July fl. (Exclusive) Sales of business property owned by the Temple Estate Company were announced this week by the Forbes. Company, local realty brokers, the total considerations amounting to The larger transaction Involved the. four-story Edison at the corner of Main and Third streets which was sold for $300,000 to H.

L. Averill of Lo3 Angeles, who has extensive holdings in the harbor district. The Edison Building was completed by the Temple Estate Company in the fall of 1927. It was erected on a ninety-nine year leasehold. The ground belongs to a group of Hollywood Tt is a modern store and office structure.

The fcecond deal was the sale of the business property at the corner Main and Fourth streets, also owned by the Temple interests, to the L. R. Investment Company of Los Angeles for $125,000. The property has a frontage of 118 feet on Main and 145-feet on, Fourth. The corner is occupied by the undertaking parlors of F.

A. Utter St Son and adjoining it Is the Temple Theater, with a seating capacity of 850. The vacant property was acquired in 1921 ty the Temple Estate Company for $12,500. The buildings were erected toon afterward. Prior to the purchase by the Temple Estate the two lots were ownad by George Pethybridge.

who paid $8000 for them in 1919. Acres of Nicely Landscaped Grounds, and 11 -Room House that Cost $65,000. Property is clear. Want Good Income Property, and will assume up to $35,000. Large outstanding corner on this rapidly grow ing thoroughfare, at a very attractive price.

The investor who will buy and improve this property now should make a handsome profit, as this corner has an excellent future. Information at office only. 10 ON TOTAL PRICE For the careful buyer we offer a splendid one story, new brick building, occupied by two tenants; Piggly Wiggly for 14 years and another substantial tenant for 413 years. Priced at $35,000 Attractive terms. THE AUTOMOTIVE DISTRICT A down tewn business property improved with brick building fronting on two streets.

A splendid location for your business, or for an investment. Only $10,000 cash to handle. At the junction of two major boulevards, in the heart of Hollywood, brick and concrete business building leased to one tenant, and showing a very substantial income. Price $70,000. This property is in the path of development- ar.d should materially increase in value within the next five years.

W. I. HOLLINGSWORTH CO. $50,000 Large Corner on San Fer- nando, Road, clear. Will exchange for Apartments or Store Building i and assume.

Build at 6 Or Refinance at 5 Class Business Block or Office Building. 10 or 15 Year Loans, $250,000 Up. Residence, Apartments and Vacant Lot Loans Will Build and Finance 100 Reasonable Financing Charges Loan Department See MR. PIERCE $25,000 8 Double Apartments, Furnished. Want an Acre or Two near Los Angeles.

See MR. KEELER Saler Manager MARSH Inc. REALTORS ROBERT TRinlty 1131 Realtors Hollingsworth Building 6th and Hill Sts. 200 Rives-Sirong Bldg. of forty-eight rooms..

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