4046 Nicolet Avenue

Los Angeles, CA 90008

$1,895,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $286 / sqft

1956

calendar_month Built

Property Description

8 units with an assumable loan that is fixed at a 3.350% interest rate until 2027, and part of a 3-building portfolio sale. 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 11.50 GRM and 5.5% 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 and 1630 S Gramercy Place.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Interior Information
Features Ceiling Fan(s)

Listing Information

Address 4046 Nicolet Avenue
City Los Angeles
State CA
Zip 90008
County Los Angeles
Listing Agent Jonathan Rawson DRE#02010400
Courtesy Of Avenue Realty Group
MLS 24406439
List Price $1,895,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 7,888
Year Built 1956
DOM 8

Exterior Information

Maps

Listing information courtesy of: Jonathan Rawson, Avenue Realty Group . *Based on information from the Association of REALTORS/Multiple Listing as of Jun 28th, 2024 at 5:12 AM 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.