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4046 Nicolet Avenue
Los Angeles, CA 90008
Large price improvement! Bring all offers for this 8-unit gated apartment building with an assumable loan that is fixed at a 3.350% interest rate until May 2027! 4046 Nicolet Ave is located in the heart of Baldwin Village and features a strong unit mix of (7) 2 Bed/1 Bath & (1) 3 Bed/1 Bath units. The property enjoys a huge premium of having 9 on-site & gated parking for tenants in the back (7 singles & 1 tandem). At list price, the property is being offered at an attractive 11.04 GRM and 5.72% cap rate on current rents and operating expenses. In the last 20 years, the entire electrical system was replaced, the building was re-piped to copper plumbing throughout, and new windows were installed. In the last 2 years, the EQ retrofit work has been completed, a new roof was put on the building, and a brand new 100-gallon water heater & expansion tank were installed. Utility costs are low as most tenants are on RUBS for utility reimbursements, no on-site laundry room, and separately metered for gas & electricity. The next owner will enjoy the perks of having stable in-place cash flow with 25% rental upside, and a fixed low interest rate to generate great day 1 cash flow. Tenants enjoy being just 1 block away from Jim Gilliam Park. Zoned LAR3 will make lot value continue to be valuable for future usage. Can be bought together or separate with 411 Witmer Street.
PROPERTY INFORMATION
| MLS # | 24406439 | Lot Size | 7,888 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,825,000
Price Per SqFt: $ 276 |
DOM | 321 Days |
| Address | 4046 Nicolet Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 6,620 Sq. Ft. |
| Postal Code | 90008 | Garage | N/A |
| County | Los Angeles | Year Built | 1956 |
| Bed / Bath | 17 / 0 | Parking | 9 |
| Built In | 1956 | Status | Active |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | None |
| Has Appliances | Yes |
| Kitchen Appliances | Dishwasher, Disposal, Microwave, Refrigerator |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| InteriorFeatures Information | Ceiling Fan(s) |
| EntryLocation | Main Level |
| Has Spa | No |
| SpaDescription | None |
| SecuritySafety | Gated Community |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,947
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 06/20/2024 | Listed | $1,895,000 |
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Listing provided courtesy of Jonathan Rawson, Avenue Realty Group. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
