4046 Nicolet Avenue
Los Angeles, CA 90008
Active for $1,825,000
Beds: 17 Baths: 8 Structure Size: 6,620 sqft Lot Size: 7,888 sqft
| MLS | 24406439 |
| Year Built | 1956 |
| Property Type | |
| County | Los Angeles |
| Status | Active |
| Active | $1,825,000 |
| Structure Size | 6,620 sqft |
| Lot Size | 7,888 sqft |
| Beds | 17 |
| Baths | 8 |
Description
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.
Listing information courtesy of: Jonathan Rawson, Avenue Realty Group . *Based on information from the Association of REALTORS/Multiple Listing as of 09/19/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Iwona G. Riley
REALTOR®
Direct: 818.216.4895
Email: Email Me
DRE: 02015583
DRE #01873088
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