Los Angeles, CA 90008 4046 Nicolet Avenue
$1,825,000
20 more
Presented By: Jonathan Rawson with Avenue Realty Group;
Home Details
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.
Presented By: Jonathan Rawson with Avenue Realty Group;
Interior Features for 4046 Nicolet Avenue
Bedrooms
Total Bedrooms17
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths8
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesNone
Total Stories2
General for 4046 Nicolet Avenue
Additional Parcels Y/NNo
AppliancesDishwasher, Disposal, Microwave, Refrigerator
Attached Garage No
Buyer FinancingAssumed, Cash, Conventional
Cap Rate5.73
Carport Y/NNo
CityLos Angeles
Community FeaturesGated
CountyLos Angeles
Days on Market70
DirectionsNorth of Stocker, East of La Brea, West of Crenshaw & South of Coliseum
Entry LocationMain Level
Full Baths
Garage Y/NYes
Gross Income165254.0
HeatingWallFurnace
Home Owner AssocNo
Home Warranty Y/NNo
Interior FeaturesCeilingFans
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Lot Size Square Feet7888.0
Lot Size UnitsSquareFeet
MLS AreaPHHT - Park Hills Heights
MobileHomeRemainsYNNo
Net Operating Income104361.0
New ConstructionNo
NumberOfUnitsTotal8
Occupancy TypeTenant
Open Parking Spaces2.0
Pool FeaturesNone
Private PoolNo
Property TypeResidentialIncome
Rent Control Y/NYes
Security FeaturesGatedCommunity
Senior Community Y/NNo
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tenant PaysElectricity, Gas
View Y/NNo
Waterfront Y/NNo
Year Built1956
ZoningLAR3
Exterior for 4046 Nicolet Avenue
Building Area Total6620.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1811
Lot Size Area7888.0
Number of Buildings1
Open Parking Y/NNo
Parking FeaturesAssigned, Covered, Driveway, Garage, Tandem, Uncovered
SpaNo
Total Parking9.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480