As I indicated, the first decade of this century was not good for stock return so the return is not bad versus its comparable index (the Wiltshire 5000) but it is far worse than the 15% growth that Marcus alluded to.

My c class units, built in the turn of the century, make $500 per door.  

For example, an old mill converted to multi-family in a low density zone, or a coffee shop in a century old fire house. 

Let me use your own example: A substantial proportion of roads in America in the 18th and 19th centuries were privately constructed and operated toll roads.

Sales associates only allowed to work under an active real estate brokerage (RE/MAX, Keller Williams, Century 21, etc for your big name brand or you can go with the local boutique mom and pop office).

Louis build around the turn of the century.

Unless it is a desired last century brick craftsman or historic victorian folks in my opinion folks usually pay up for newer.

As early as the 16th century, the concept of property being held in trust by one person for the benefit of another was part of the English Common Law.

I am not going after turn of the century Victorian only small rentals. 

Neighborhood Scout has Oakland, like virtually all coastal CA cities, 10/10 for appreciation this century (Oakland is 9/10 for the state, both are the same as my market).