4046 Nicolet Avenue
Los Angeles, CA 90008
- – beds
- – baths
- – sqft
- 7,888 sqft lot
- 1956 build
- – on site
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.
Last checked:
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Last updated Oct 29, 2024
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MLS# 24406439 —
The Building
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Year Built:1956
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New Construction:No
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Building Area Total:6620.00
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# of Buildings:1
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Total Number Of Units:8
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Stories Total:2
Interior
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Features:Ceiling Fan(s)
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Levels:Two
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Entry Location:Main Level
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Laundry:None
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Laundry:1
Location
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Directions:North of Stocker, East of La Brea, West of Crenshaw & South of Coliseum
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Latitude:34.01318400
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Longitude:-118.35092500
The Property
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Property Type:Residential Income
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Zoning:LAR3
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Lot Size Area:7888.0000
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Lot Size Acres:0.1811
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Lot Size SqFt:7888.00
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Security Features:Gated Community
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Additional Parcels:No
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5030016008
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
Appliances
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Appliances:Dishwasher, Disposal, Microwave, Refrigerator
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Included:Yes
The Community
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Senior Community:No
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Pool:None
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Private Pool:No
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Spa Features:None
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Association:No
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Assessments:No
Parking
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Parking:Yes
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Parking:Assigned, Driveway, Tandem Garage, Uncovered, Covered
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Parking Spaces:9.00
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Uncovered Spaces:2.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
8/29/24
Aug 29, 2024
|
Price Changed | CRMLS_CA | $1,825,000 | -3.7% |
|
6/20/24
Jun 20, 2024
|
Listed / Active | CRMLS_CA | $1,895,000 | 18.4% (3.2% / YR) |
|
8/15/18
Aug 15, 2018
|
CRMLS_CA | $1,600,000 |
