4046 Nicolet Avenue

Los Angeles, CA 90008

PRICE REDUCED

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-$70,000 (-3.69%)

$1,825,000

List Price

17

bed Beds

8

shower Baths

6,620 sqft

straighten / sqft

1956

calendar_month Built

Property 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

List Price $1,825,000
Status Active
MLS 24406439
Type Residential Income
Year Built 1956
Lot Size 7,888
Structure Size 6,620
DOM 70
Courtesy Of Avenue Realty Group
Listing Agent Jonathan Rawson DRE#02010400

Interior Features

Laundry Information
Location(s) None
Total Bedroom
Bedrooms 17
Total Bathroom
Bathrooms 8
Additional Information
Additional Features Ceiling Fan(s)

Exterior Information

Maps

Listing information courtesy of: Jonathan Rawson, Avenue Realty Group . *Based on information from the Association of REALTORS/Multiple Listing as of Aug 29th, 2024 at 1:31 PM 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.