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4046 Nicolet Ave, Los Angeles, CA 90008
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4046 Nicolet Ave Los Angeles, CA 90008

$1,825,000
  • 30 Beds
  • 14 Baths
  • 6,620 Sq.Ft.
For Sale
$1,825,000 Get Pre-Qualified
Map preview of 4046 Nicolet Ave, Los Angeles, CA 90008

Property Overview: 4046 Nicolet Ave Los Angeles, CA has 30 bedrooms, 14 bathrooms, 6,620 living square feet and 7,888 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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.

Listed by Jonathan Rawson | BRE #02010400 | Avenue Realty Group
Last checked: 10 minutes ago | Last updated: August 29th, 2024 | Source CRMLS | DOM: 99

Home details

Lot Sq. Ft
7,888
HOA Dues
$0/mo
Year built
1956
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24406439
City
Los Angeles
County
Los Angeles
Time on Site
99 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 7
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,740
  • Total Rent: $1,740
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,590
  • Total Rent: $1,590
  • Pro Forma/Market Rent: $2,375
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,954
  • Total Rent: $1,954
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,945
  • Total Rent: $1,945
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,902
  • Total Rent: $1,902
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,969
  • Total Rent: $1,969
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,564
  • Total Rent: $1,564
  • Pro Forma/Market Rent: $1,995
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,559
  • Total Rent: $1,559
  • Pro Forma/Market Rent: $2,375
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.73%
  • Gross Rent Multiplier: 11.04
  • Gross Scheduled Income: --
  • Net Operating Income: $104,361
  • Gross Operating Income: $160,296
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 4046 Nicolet Ave

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Property Details for 4046 Nicolet Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • None
Kitchen Information
  • Has Appliances
  • Dishwasher, Disposal, Microwave, Refrigerator
Interior Features
  • Ceiling Fan(s)
  • Levels: Two
  • Security Features: Gated Community
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 9
  • Has Parking
  • Parking Features: Assigned, Driveway, Tandem Garage, Uncovered, Covered
Property Information
  • Total # of Units: 8
  • Parcel Number: 5030016008
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: North of Stocker, East of La Brea, West of Crenshaw & South of Coliseum
View more facts & features

Local Los Angeles Agent

Sale History for 4046 Nicolet Ave

Last sold for $1,600,000 on August 15th, 2018

  • June, 2024

  • Jun 20, 2024

    Date

    Active

    CRMLS: 24406439

    $1,895,000

    Price

  • August, 2018

  • Aug 15, 2018

    Date

    Sold

    CRMLS: SB18198363

    $1,600,000

    Price

  • Aug 15, 2018

    Date

    Active

    CRMLS: SB18198363

    $1,600,000

    Price

  • Listing provided courtesy of CRMLS

    Property closed off market, entered on MLS solely for comp purposes.

  • July, 2018

  • Jul 23, 2018

    Date

    Sold (Public Records)

    Public Records

    $1,600,000

    Price

  • April, 2006

  • Apr 20, 2006

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 4046 Nicolet Ave

Assessed Value (2020): $1,632,000
Year Land Value Improved Value Assessed Value
2020 $1,020,000 $612,000 $1,632,000

Home Value Compared to the Market

This property vs the competition

4046 Nicolet Ave is listed 52.08% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $771 and this home is listed at $275.68 per/sqft which puts the price per square foot 64.24% lower than the median price per square foot for the city of Los Angeles.

About 4046 Nicolet Ave

Detailed summary of property

4046 Nicolet Ave is a multi family located in Los Angeles, CA 90008 and is currently for sale. This multi family property offers 30 bedrooms, 14 bathrooms, roughly 6,620 living square feet, and sits on an approximately 7,888 square foot lot. 4046 Nicolet Ave was first listed on ArdentRealEstateGroup.com on June 20, 2024. The homeowner is currently asking $1,825,000 and was originally asking $1,895,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $771. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 52.08% higher than the median priced home. Local competing homes currently for sale include 3008 Stocker St, 2315 Carmona Ave and 1852 S La Brea Ave. While the average home in Los Angeles, CA is selling in 106 days, 4046 Nicolet Ave has a days on market of 99 days. There are currently 4139 homes for sale in the Los Angeles real estate market and 2834 of them are single family homes while 1183 of them are condos and 115 are townhomes. For more information on this home for sale at 4046 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 4046 Nicolet Ave

Public county record property details
Beds
17
Baths
8
Year built
1956
Sq. Ft.
6,620
Lot Size
7,885
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
147
APN
5030-016-008

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
$1,299,000
Median List Price/Sq.Ft.
$672
Median Sold Price
$1,315,000
Median Sold Price/Sq.Ft.
$602
Total Inventory
46
Median Sale to List Price %
94%
Avg Days on Market
29
Loan Type
Conventional (21.43%), FHA (0%), VA (0%), Cash (21.43%), Other (7.14%)

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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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