The Oregon daily journal., November 19, 1911, Page 21, Image 21

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THE' OREGON SUNDAY JOURNAL, PORTLAND, - SUNDAY MORNING,. NOVEMBER , 19.' 1911.
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I IIIULO UIILHI Lll . y
v : iilul 1 1 inn iiiuul t
h OF OTHER CITIES t
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v Attractive , Feature Impresses
i) 1 Itsplf nn Vicitftpc Rpaltvt
. Conditions in Seattle and in i
' Other Places Are Compared.
The on feature of the local real
estate market which Immediately im-
f'resses Itself upon visitors to Port
and from other coast and western
cities Is the cheapness of-property here
when compared with the prevailing
priced In such center as Denver, lx
Angeles, Kansas City, Seattle. MInneap.
oils, Oakland and St. Paul. . From the
Standpoint of noDulatlon these cities
With the excepHon of Oakland, may be
am to be in Portland's class, yet the
Tact Is constantly being referred to
that Portland real estate of all classes
Is held at much lower flaures than
similarly located property In any of the
vines nameaj, xn v question is often
asked, why Is this so? There Is but one
answer Portlanders do not put a prop
er value upon their home city. - Thej
do not, apparently, , realise that they
live In the most prosperous1 and pro
gressiva city on the Pacific coast. If
they did, certainly land values here
would rise to the level of . values in
at least other western cities In Port
land's class.
Conditions Compared.,'
The Very best retall-r-buslneas and of.
flee building property in Portland is
held at much lower figures than the
feme class of holding brinsra In Seattle.
Denver, Los Angeles. Kansas City, St.
Paul, as well as numerous other cities
In the 250,000 population class. This
is undeniably true as was shown by a
comparison of values which was mad a
by a local realty firm; the information
upon which the comparison was based
having been furnished by the leading
commercial bodies of the cities named.
Proof of ,ths assertion is also, seen in
the income derived from such properties
here when suitably - Improved, For in
stance, there are a number of class A
office buildings In Portland that yield
a net return of 8 per cent on the cost
of the building plus the valuation put
on the site by tha owner, and st least
one office building In this city pays 10
per cent net pn the Investment Several
leases of business property made In
this olty during the past year call 5 for
as . much, as 7 and S per cent on a
valuation based on reoent sales of sur
rounding property.
Handsome Xeturas.
Apartment bouse property, based on
prevailing values, pays handsomely in
Portland. One firm of apartment house
builders is responsible for . the state
ment that 12 per cent is the minimum
Bet income that it gets from any of
their buildings. Several such buildings
'have been sold within the year on a
Showing of an Income of 11 to 16 pet
cent lessees of these properties fre
quently take them over for a term of
years at a rental which pays 10 per
cent net to the owners, and it is un
reasonable to suppose that this would
he done unless the lessee could make
fair profit out of the transaction.
. Theee figures do not necessarily show
HHat rents on the classes of property
named are too high, but they do dem
onstrate clearly that , the valuations
S laced OH the land occupied by the
u'ldlngs is too low; . Six per cent is
considered a fair and reasonable in
come on business property in most large
western cities, while in the large eastern
Centers owners of such properties are
satisfied with 4 and 5 per cent on
their investments. Only recently the
editor of the real estate department of
a leading New York daily made the
statement that there was not a first
class office building In New York city
that paid more than iy, per cent net
on the cost of the land and building.
Besldsnost Property.
But it Is in the better classes of
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IRRIGATED MS
Yincnops
Excellent Results Are Obtained
From Project Near West , .
Stayton. ; ;
Hotel Cordova, recently, completed at Eleventh and Jefferson streets.
The Willamette Valley Irrigated. Land
company, operating on an extensive seals
In the - vicinity et - West - Stayton, . has
demonstrated during the past II month
that irrigation in the Willamette valley
Is a tremendous success. , ' i
In a report recently made to the stock
holders by the officers of the company
the following significant language ap
pears: "Within less than one year from
the time work was commenced the proj
ect has proven a success for the com'
pany as well as, demonstrated the pos
sibilities of intensive farming in the
Willamette valley." -
Just "even months ago this company
began wprk on an irrigating plait. Now
it has water over a large area' and de
velopment Is progressing rapidly on the
extension of the system.
Results obtained on the experime&t
station of the company, which Is under
the direction of the Oregon Agricultural
college, show that the Irrigated plots of
corn produced three to four and a half
times as much as the non-Irrigated plot.
The prune orchard with irrigation pro-
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I'l GUPS' 9rr7
r
JO HOUSE IS COltfPLETB
WITHOUT ONE OF 'OUB
Art
Lamps
If you want something dif
ferent than your neighbor be '
sure and see these Lamps.
We excel In the showing of
P I nii VLACK ARTICLES,
ANDIRONS, ELECTRIC
IRONS, ELECTRO HEATERS.
Show window lighting and
lighting fixtures.
M. J. WALSH CO.
Mantels; Tile, Lighting Fixtures
811 STARK STREET-
. Between, 5th and 6th' ' . ,
residence property that - the greatest
differences in value 'are to be seen be
tween Portland and other large western
ana Pacific 1 coast centers. Astonish
ing as it may seem to those who are
familiar with condltiens hers and in
otherr coast and middle . west , cities,
Portland residence property in the more
exclusive and high-grade districts is
an or to per cent cheaper in such
cities as Los Angeles, Denver, Seattle
ana Kansas city.
.Last summer statistics affecting res
wence property .values in a dozen or
more cities in Portland's ' class were
gathered from the most reliable' and
trustworthy sources and they bore the
contention out to the letter, that resi
dence property In Portland Is held at
lower figures than that in any other
American city in its class, as to popu
lation and commercial and industrial
importance. ' . ;
As an example of what this investi
gation developed, the Realty Board of
Denver reported that property on Capi
tol Hill, the choicest residence district
in that city and which corresponds to
Irvington - Ladd's addition, Laurelhurst
and Portland Heights, is worth from
$100 to, $200 a front foot, while the
very .best figures that have been ob
tained for Irvington, Ladd's addition
or Laurelhurst lota was not above $70
a foot, while the average price for lots
in those additions ranges from $40 to
$60 a foot. -
90 a Tront root, j
In the Broadway and Capitol Hill
districts in Seattle, exclusive residence
areas, the least desirable sites readily
bring $100 a foot and the choicer lots
from $150 to $200. Within the past week
a resident of Portland who owns 90
feet of frontage in a residence . addi
tion over four miles from the center
of Seattle, was offered $8760 or more
than $40 a foot for the parcel.
Los Angeles residence property sim
ilarly located to Portland Heights, Irvington,-
Hawthorne Park and Ladd's ad
dition can not, bs had for less than
$126 -to $$00 a -froat-fodt. Similarly
located properties In Kansas City Is
quoted at $90 to $130 a foot; St. Paul,
$80 to $120; Indianapolis, $76 to $126,
Snd Jersey City, $125 to $176 a foot
. he only conclusion to 'be drawn from
these comparative figures Is that PorP
land real estate is a long ways below
the level-of values of every other city
In its class in the" country.
WILL SET TRACT OF
665 ACRES TO APPLES
William Mahon, president of the
American Natldnal Bank of Hillsboro,
who last week took title to 666 acres
j of land hear St. Joe in Yamhill county,
announces that, he has completed ar
rangements to set the entire holding in
apples next spring. The. property is a
part of the Ben Holladay old ranch
and la as fertile as any land in western
Oregon. Of that part', purchased by
Mr. Mahon, 600 acres is cleared and In
cultivation and the remainder will be
cleared this winter preparatory to
planting the whole next spring. Mr.
Mahon paid $70,000 for the property, or
a little more than $100 an acre. He
Intends to subdivide the place Into five
and 10 acre tracts and colonise It with
eastern people.".; '''" .' .'V - "V
ALBINA PROPERTY IS
SOLD FOR $14,750
The F. E. Taylor company report the
sain this week to the 3. Morton Cohn
Real rtnto ft Investment company from
Marcus A. Peel, of 100x135 feet, south
west corner of Alblna and Stanton
streets, for $14,760. This property Is
Improved with a new, modern four-flat
apartment house; also three rive-room
cottages, leaving a vacant corner 62x63
leet. mr. uonn s intention is to imme
dlut'y Improve this corner with a good
building, stores below and apartments
above. '
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German Lutheran Evangelical church, handsome stone structure, nearlng completion at corner ot Twelfth
, : - ' -. t and; Clay Btreeta. w
UTTIE ACTIVITY
IN REAL ESTATE;
WEATHER IS CAUSE
Largest Deal of Week That of
Purchase of Corner Parcel
at East Pine, Grand Avenue
By "Lucky Jack" Peterson.
substantial
PACIFIC IRON WORKS
STKUOTTSKA& gTBEIi
$ ABCmTtCTTOAI, IJIOH
) t ' Immediate Delivery
Portland, Or.
SALES OF ORCHARD -
LANDS ARE REPORTED
Devlin & ' Firebaugh, ' selling agents
for the Hood River Orchard Land com
pany, report the following'-sales- dur
ing the pftBt month at' "Mosler " View
Orchards";
. , Ten acres to Mrs. C. M. Maxfield of
Portland, -
Five acres to J. P. Maxfield, recently
from Kansas.
Ten acres to Mrs. Carrie Presba, a
recent arrival -from Wisconsin.
Five acres to A, J. Preston, a travel
ting salesman of Portland.
Twenty acres to L. K. Adels of Hous
ton, Texas. -
Ten acres to VT. A, Tompkins of Port
land. i .
Quite a number of these, buyers will
soon begin the erection of modern bun
galows on their properties, Mr. Tomp
kins and Mr. Maxfield are now resi
dents oC Ortley, the new town situ
ated in the midst of "Mosler iew Or
chards.') , ISSSBlBSSSSSSBlJiatBplsSBS -,.t.
While the average time for' organ
ised labor in Missouri, is 8.87 hours a
day, there are, M locals In St. IjouIs,
the .members of which' work' only,
hours a day,
Buvlns real estate reached a low ebb
in Portland last week, due no doubt In
a great measure w uw (ikuu
weather. Investors are little disposed
to tramD around in the rain looking up
Investments in real estate, and with the
rain driven by a gale, as It was four
days of last week, the market was re
duced to the minimum of activity.
The best deal reported during me
week involved the purchase by J. H.
fT.nokv Jack Peterson of the soxwu
foot parcel located at the southeast cor
ner of East Fine street ana urana ave
nue for $60,000. The property is im
proved, the north half, with a four-story
brick building, known as me vjboo
hotel, which now returns a revenue
eaual to neatly 6 per cent on the cost
of .tha whole piece. The property was
purchased from ..David jewis ana asso
ciates. Mr. Peterson is already formu
lating plans for Improving the south
half of the parcel wiw
brick structure.-
' Buys BCandsoms Xssldsnoe.
Another fair sized transaction put to
record last week was the purchase by
R. V. Jones from Harry E. Wood or a
handsome t new residence.
M. Llnebaugh has sold to M. L. Gram
a four-series frame Hat buiiaing oc
cupvlna a 48-foot lot and located on
Twelfth street, between Hall and Harri
son, for $15,000. The sale was handled
by M. E. Lee.
One of the handsomest country home
sites In the vicinity of Portland, the
Woerndle place, located Just beyond Mll-
waukle on the Oregon City canine, was
sold last week by the owner, Joseph
Woerndle. to A. V. Calkins, for $10,000
The property comprises three and one-
half acres and is improved witn a moa
ern frame residence. :.
Maud O. Van Waters has purchased
from Charles Pinckney an Improved
quarter block in n razee Street addition,
Irvington, for $9800.
W. N. Everett has sold, to T. B. Bid
well a new dwelling occupying lot 13 In
block 71, Laurelhurst, for $7000.'
Walter E. ' Pearson has taken title to
n handsome piece of residence property
located ort Broadway, near Kast Twenty
second street. The property was sold
by M'liss McCraken Mason for $7000.
Build Apartment Bouse.
h a alto fnr n anart-
ment house, S. Morton Cohn has takeri"
title to a 50x100 foot lot located on the.
west side of Nineteenth street, between
overton ana xsortnrup. xne parcel was
purchased from F. D. J. Strud; consid
eration, $12,600.
A fractional residence site located on
Kearney street, between Twenty-first
and Twenty-second, was sold last week
by John V. Raid to John E. Kelleyffor
$0000. ,. - , - i-
Everett Fenton has sold to Mrs. Belle
Benedict lot 17 in blodc 41, Laurelhurst,
Improved with , a new f rame dwelling,
for $4700.
manuscripts ' of most of the French
plays and burying them- in his collec
tion Instead of , allowing them to be
presented on the American stag
journal Want ads brg,asnttsl-ft a
duced Just double the average crop of
the past, three years
,So far the company has sold 28 tracts,
aggregating over 200 acres, and involv
ing a total consideration of nearly
$.40,000.-""-
LETS CONTRACT FOR -
THRE STORY BRICK
It B. Adams, s local capitalist and
Investor, has let the contract for a
three story brlok apartment house.
which Is to eraeted at Twenty-first
and Overton street. The structure will
cover a full 60 by 100 foot lot and
will oorst $JS.00O.' It will contain 53
apartments b ' two, three and four,
rooms, and will be equipped With the
usual apartment houss furniture of the
apartment house type. The trtr
walls will bs faced with prtssed brlrtt
and the Interior with heavy timber con
struction. Plans by Architects Clauses
A Clausen. 1
. The Labor Temple association, cap
ita Used at $80,000, has been formed to -build
a home for organised labor in Chi
cago, , -.
Journal Want Ads bring results
The loss suffered. b
the lady referred to in th
accompanying newspaper
extract would have been
prevented if she had se
cured the protection guar
nteed by our Certificate;
of Title. Investigate.
Call for booklet.
TITLE AND
TRUST CO,
4th and Oak,
Portland.
-V' Title
"VV ami Trust
aflp Company
O Portland. Or.
Send me '
your booklet.
TEAR OFPANDT1AiLx
THIS TO-I
Name
Address .
ACREAGE
One to five acre tracts on electric line near Portland.
Richest soil in Oregon. Near new and rapidly growing
suburban townv Prices reasonable, with easy terms
Call at our office for literature and information about
richest farm lands in northwest '
RUTH TRUST COMPANY
235 STARK ST., PORTLAND, OR.
I III rNfl I srm ssMsai sr P - i -r-" sMisa-- I WJ . XI M I
I I RYINO i VjL 10TO My
- Morgan Buys Manuscripts.
J. Plerpont Morgan has just paid
$300,000 for the original manuscripts of
French stories. -; He can do the country
a service by purchasing the, original
In Irvington and envi
rons we have several splen
did residences for sale on
easy terms. One especially
at $6850, payable $1000 down
balance $40 mohly, should
appeal to someiomeseekev.
7 rooms, all new and mod
ern, only 10 minutes' ride.
Also a few bargains in
Irvington lots, easy terms.
Our Irvington specialist
will give you personal serv
ice ir you contemplate io-,
eating in mat district.
LOOKING THP txc Arfrrcirr WILLAH1"
IN THE FASHIONABLE RIVERDALE SECTION
We offer today three splendid properties in this exclusive district.
Each of them contains over an acre of ground right at Rockspur station,
only 20 minutes out. One place has six room bungalow and is offered
below value, as owner must sell. The other two are larger and have water
frontage. $ach place is equipped with every city convenience, electric
lights, etc., and will appeal to the discriminating home lover who likes
ple"nty of room and appreciates attractive surroundings. Prices range
from $5500 to $12,000. Easy terms.
We have a large list of country estates. Let us help you select.
Often a homeaeeker now
paying rent would buy - a
bouse if the first payment
is small, we nave seven
bungalows at Montavilla. 1
block from the car, all
modern, with bath, large
lots, in well built-up neigh
borhood, which we will sell
on $25 or $80 monthly pay
ments; $100 or $200 down
is all we require as first
payment. '
See these Monday If you
want to be sure of one.
Exchanges or merit
A good exchange de
partment requires at
Its head a man of ex
" pert judgment. Such an
one Is our exchange
specialist The key
note of our exohange
department Is personal
service. We will not
offer nor allow any
deals completed unless
we are-sure that they
are satisfactory all
around.
A Clean-Cut
Trade
A farmer four miles
from the ferry at Van
couver, owning a large
tract right on car line,
10c fare, will take 70
acres or choice land
ripe for subdivision for
' good Portland Income
Sroperty, flats, resl
ences or stores. Will
trade even, assume or
add more property as
deal warrants. The 70
acres amount to $19,
. 260.
We have other trades
- worthy ot attention.
XL
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Second flbr Chamber cf GDDinierce 51d
In addition to ARLINGTON and KINGS HEIGHTS, the two
view properties superlative, our organisation of specialised ex
perts cover every branch of real estate activity. The keynote
of our office la Courtesy and Conscientious personal service. It '
Is our aim to please the buyer and get for him full value for his
purchase money. It is our aim also to render to the seller per
sonal service and to find for him a buyer for his offerings. We
have large demand for' all worts of improved and unimproved
property, flats, stores, apartments, residences, farms, sores ge,
eta., at right prices. We will be glad to sell your property for
you If you make the price and terms right-to-tha purchaser, and -If
your property is Intrinsically sound. Our off loes sure ths larg
est in the state and our personal service Is unique. :
IB
BU.JT .. ." ' ., i fc SBBWSBf BffJSSISSSS BSSSSSM
fARHlMDOFFERlttt
Out of our large list
of registered farms It
is hard to select one or
two for advertising.
We have a superb place
at Dallas, In the heart
of the Willamette val
ley; 110 acres all told:
flnehouse, barn and
all outbuildings; hot
and cold water, etc
19 acres bearing ap
ples.. ! . .
12 acres English wal
nuts. - ..
I acre peaches.
It acres pears. '
10 acres young, ap
ples. 20 acres pasture.
30 acres grain.
6 acres berry patches.
Only $7000 cssh. , Bal
ance can be paid out
of crops. ,
We have many other
good .fruit, grain and
dairy farms. . tt us
fill your needs.- Our
Farm Lands tnanagor
can help you locate ,
property, ,
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