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3940 Nicolet Ave, Los Angeles, CA 90008
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3940 Nicolet Ave Los Angeles, CA 90008

$2,980,000 Sold Price as of 12/08/2020
  • 30 Beds
  • 17 Baths
  • 16,876 Sq.Ft.
Sold
$2,980,000 Sold Price as of 12/08/2020 Refinance Your Mortgage
Map preview of 3940 Nicolet Ave, Los Angeles, CA 90008

Property Overview: 3940 Nicolet Ave Los Angeles, CA has 30 bedrooms, 17 bathrooms, 16,876 living square feet and 15,963 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Value-Add Opportunity - Building to be delivered with 11 vacancies allowing for a prospective investor to capture market rent on 68% of the units. | Large Floorplans - The Subject Property features spacious units with a total building size of 16,876 Sq. Ft. | Diverse Unit Mix - The Subject Property consists of 1-Bedroom; 2-Bedroom and 3-Bedroom Units; 75% of the Units are 2-Bedroom Units. | Attractive Financing - The property should provide for financing at 65% to 75% LTV of the asking price once fully leased up and stabilized.

Listed by Thomas Jonsson | BRE #01755842 | James Capital Advisors, Inc.
Co-listed by William James | BRE #01734419 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 6 minutes ago | Last updated: May 10th, 2022 | Source CRMLS | DOM: 55

Home details

Lot Sq. Ft
15,963
HOA Dues
$0/mo
Year built
1956
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
20636444
City
Los Angeles
County
Los Angeles
Time on Site
1213 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 16
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $807
  • Total Rent: $1,613
  • Pro Forma/Market Rent: $1,950
Unit Breakdown 2
  • # of Units: 10
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,050
  • Total Rent: $6,150
  • Pro Forma/Market Rent: $2,050
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,450
  • Total Rent: $2,450
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 4
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,400
  • Total Rent: $4,200
  • Pro Forma/Market Rent: $1,600
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 12.1
  • Gross Scheduled Income: --
  • Net Operating Income: $159,004
  • Gross Operating Income: $282,697
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 3940 Nicolet Ave

Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 11
  • Has Parking
  • Parking Features: Covered
Property Information
  • Total # of Units: 16
  • Parcel Number: 5030008010
Location / Neighborhood
Location Information
  • Directions: 3940 NICOLET AVE, LOS ANGELES, CA 90008
View more facts & features

Local Los Angeles Agent

Sale History for 3940 Nicolet Ave

Last sold for $2,980,000 on December 8th, 2020

  • December, 2020

  • Dec 9, 2020

    Date

    Sold

    CRMLS: 20636444

    $2,980,000

    Price

  • Nov 16, 2020

    Date

    Pending

    CRMLS: 20636444

    $3,600,000

    Price

  • Sep 23, 2020

    Date

    Active

    CRMLS: 20636444

    $3,600,000

    Price

  • November, 2020

  • Nov 25, 2020

    Date

    Sold (Public Records)

    Public Records

    $2,980,000

    Price

  • October, 2020

  • Oct 2, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 3940 Nicolet Ave

Assessed Value (2020): $1,102,828
Year Land Value Improved Value Assessed Value
2020 $503,502 $599,326 $1,102,828

Home Value Compared to the Market

This property vs the competition

3940 Nicolet Ave sold on December 8, 2020 for 202.52% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $213.32 per/sqft which puts the price per square foot 71.75% lower than the current median sale per square foot for the city of Los Angeles.

About 3940 Nicolet Ave

Detailed summary of property

3940 Nicolet Ave is a multi family that recently sold in Los Angeles, CA 90008. This multi family property offered 30 bedrooms, 17 bathrooms, roughly 16,876 living square feet, and sits on an approximately 15,963 square foot lot. 3940 Nicolet Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $2,980,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 202.52% higher than the current median priced home. Local homes that are currently for sale include 6018 Comey Ave, 4522 W 17th St and 1424 Meadowbrook Ave. While the average home in Los Angeles, CA is selling in 93 days, 3940 Nicolet Ave has a days on market of 55 days. There are currently 3618 homes for sale in the Los Angeles real estate market and 2437 of them are single family homes while 1084 of them are condos and 92 are townhomes. For more information on this home for sale at 3940 Nicolet Ave Los Angeles, CA 90008 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 3940 Nicolet Ave

Public county record property details
Beds
--
Baths
--
Year built
1956
Sq. Ft.
16,876
Lot Size
15,963
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
136,137
APN
5030-008-010

The source for these homes facts are from public records.

90008 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,477,777
Median List Price/Sq.Ft.
$711
Median Sold Price
$1,275,000
Median Sold Price/Sq.Ft.
$662
Total Inventory
45
Median Sale to List Price %
91.79%
Avg Days on Market
62
Loan Type
Conventional (30.77%), FHA (0%), VA (0%), Cash (30.77%), Other (15.38%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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