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THE OREGON STATESMAN, SALEM, OREGON
SUNDAY MORNING, OCTOBER 15, 1922
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(72 Apartments)
Capitol Apartments (Modem Throughout)
To be located on the most beautiful spot in Salem (corner Court and Capitol streets) rii
f " buildings, across the street from Capitol Park
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It's a long felt want New People Coming to Salem can find no
place to live. They trampthe streets, from agent to agent, without
avail and finally leave the city or try to content themselves with an
1 unsatisfactory dwelling place.
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Newly married couples, single men and women, who, have not jet
come to own their own homes, state officers and employees, Willin-
ette University faculty members and students, and other people'wKo
for business reasons cannot well keep up house establuhments, hive been
wishing for the coming of the apartment house builder. '
f A Substantial, Modern Apartment
Building
The Capitol Apartments, costing approximately $200,(KX),
consisting of aliout seventy-two, 2, :3 and 4-room apartments, 1
Will be built on the Thiclsen lot which is 175 feet square, locat- j
ed on the corner of Court and Capitol streets. It will carry
four stories and basement 100 by 110 feet. -
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Everything Up-to-the-Last
Minute
The building will have disappearing beds, electric stoves
in' kitchenettes with free current to tenants, oil fuel heating
plant , (no smoke, no soot), hot and cold water, free janitor
service, electric elevator service, dummy elevator service from
GRILL and basement to each apartment. GRILL in basement
and private locker store room for each tenant.
Average rental to be $50 per month for each apartment.
Presenting an investment that will net dividends of over 17
yearly and absolutely safe
The Board of Directors of this building will be Salem cit
izens and this investment merits your consideration. It's a
safe place for your money. Investigate now Mail the coupon.
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WHAT PROMINENT
SALEM PEOPLE
SAY:
Thoa. B. Kay "One of
the biggest needs; an A-l
investment."
Homer H. Smith "Salem
Wants it. Salem will fill
it iri 30 days."
SOME OF THE
INVESTORS:
Thos. B. Kay, Jennie B.
Thielsen, B. C. Miles, Ho
mer II. Smith, Jos. G.
Heltzel, Armington & Co.,
Fred D. Thielsen, W. E.
Wilson, Van Batten &
Son.
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Ample Dividends Assured
Investors
In our statement given herewith, below, you will
notice we have allowed for a permanent vacancy of
1 0 apartments. But Salem's citizens say that we will
have no vacancies. Even with ten vacancies, the
building will show a better than 17 per cent invest
ment. Should all the apartments be occupied, the
investment will be better than 20 per cent a fine
investment for everybody.
Statement of Revenue and
Disbursements
72 Room Apartment House With Grill in Basement
Salem, Oregon
ESTIMATED RECEIPTS:
72 Apts. average $50.00 12 months. . $43,200.00
Less .vacancies 10 per month 4,000.00 ?39,200N00
Grill in basement $150 per month.... 1,800.00
Gross Income. ... $41,000.00
EXPENDITURES:
Manager $ 2,400.00
Janitor 1.200,00
Assistant Janitor . 1,000.00
Office and telephone girl".' 720.00
Interest $100,000 6't or lower.. 6,000.00
Water 1,800.00
Electric lights and power 3,000.00
Taxes 4,000.00
Insurance 1,400.00
Oil ".' 2,000.00
23,520.00
Balance (or 1 on investment) 17,480.00
$41,000.00
Put aside Iff, an SINKING Fl'M)
$100,000 paid by this Sinking Fund In 15 years or iess time,
and the interest of Sinking Fund will take care of depreciation.
FINANCE COMMITTEE,
The Time Is Ripl
Now comes ARMINGTON & Co., of Denver, to supply the need ,
And the good people of Salem will be given an opportunity to invest
some of their money in the project. Read the Financial Statement:
herewith; note the prominent Salem men who already are supporting
the building; note what they say Then clip the coupon below and:
mail it to Mr. Armington. This is a real profitable, safe and sound
investment opportunity, fully endorsed by the Salem Commercial.
Club and everybody grasp it NOW!
Salem Will Benefit
All the material and labor for the Capitol
Building will be supplied locally, including
lumber, sash and doors, sand, gravel, 'brick,
tile and cement It will add prosperity.
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Mail This Coupon
For full information to Warren Armington, 248 N. Summer St.!
Salem, Ore.
Sign your Name
Address
Phone Number
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That
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BlIV Will B
Armington & Co.
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Reserva-" ( ;
Hon. or
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Being ; 1
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