$1,895,000 Price Analysis   ♡   Los Angeles, CA 90008 17 bed 8 bath 6,620 SqFt ($286/SqFt) 7,888SqFt lot. Built 1956 Listed 2024-06-20, Taxes $20,824 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
8 units with an assumable loan that is fixed at a 3.350% interest rte 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 and (1) 3 Bed/1 Bath units. The property enjoys a huge premium of having 9 on-site and gated parking for tenants in the back (7 singles and 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 ha ving stable in-place cash flow with 25% rental upside and a fixed low interest rate to generate tremendous day 1 cash flow. Tenants enjoy being 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.
Presented by Jonathan Rawson at
Avenue Realty Group.
Property MLS #24-406439 from TheMLSCLAW
Full Bathrooms: 8
Heating Features: Wall
Garage Description: Assigned, Driveway, Tandem, Uncovered, Covered Parking
Parking Total: 9
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 7888
Calculated Total Monthly Association Fees: 0
Number of Units: 8
Unit Features: 1 BedsTotal: 2, 1 BathsTotal: 1, 1 SquareFeet: 1995, 2 BedsTotal: 2, 2 BathsTotal: 1, 2 SquareFeet: 1995, 3 BedsTotal: 2, 3 BathsTotal: 1, 3 SquareFeet: 1995, 4 BedsTotal: 2, 4 BathsTotal: 1, 4 SquareFeet: 1995, 5 BedsTotal: 2, 5 BathsTotal: 1, 5 SquareFeet: 1995, 6 BedsTotal: 2, 6 BathsTotal: 1, 6 SquareFeet: 1995, 7 BedsTotal: 2, 7 BathsTotal: 1, 7 SquareFeet: 1995, 8 BedsTotal: 3, 8 BathsTotal: 1, 8 SquareFeet: 2375
County: Los Angeles
Cap Rate: 5.51
Directions: North of Stocker, East of La Brea, West of Crenshaw & South of Coliseum
Source Property Type: Residential Income
Area: Park Hills Heights
Source Neighborhood: Park Hills Heights
Owner Pays: Water, Gardener
Parcel Number: 5030-016-008
Postal Code Plus 4: 2230
Zoning: LAR3
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $630,706 + $1,051,178 $1,681,884 | $20,824 |
| 2021 | $618,340 + $1,030,567 $1,648,907 | $20,547 |
| 2020 | $612,000 + $1,020,000 $1,632,000 | $20,748 |
| 2019 | $600,000 + $1,000,000 $1,600,000 | $19,951 |
| 2018 | $430,805 + $289,813 $720,618 | $9,657 |
| 2017 | $422,358 + $284,131 $706,489 | $9,417 |
| 2016 | $414,077 + $278,560 $692,637 | $9,145 |
| 2015 | $407,858 + $274,376 $682,234 | $9,022 |
| 2014 | $399,869 + $269,002 $668,871 | $9,102 |
| 2013 | $398,062 + $267,787 $665,849 | $9,013 |
| 2012 | $277,437 + $388,412 $665,849 | $8,997 |
| 2010 | $271,998 + $380,797 $652,795 | $8,839 |
| 2009 | $270,608 + $378,850 $649,458 | $8,513 |
| 2009 | $269,966 + $377,952 $647,918 | $8,513 |
| 2008 | $265,302 + $371,422 $636,724 | $8,163 |
| 2007 | $260,100 + $364,140 $624,240 | $7,876 |
$1,895,000
TheMLSCLAW
Sold 2018-08-16
$1,600,000
CRMLS
Listed 2018-08-15
$1,600,000
CRMLS
Sold 2018-07-23
$1,600,000
Public Record
Listing removed 2016-11-04
$1,495,000
CRMLS
Listed 2016-09-16
$1,495,000
CRMLS
Sold 2003-08-20
$447,000
ITECH
Listed 2002-12-19
$265,000
ITECH
Sold 1999-07-20
$317,000
Public Record
Listing removed 1999-02-19
$99,000
ITECH
Listing removed 1999-01-14
$193,000
ITECH
Listing removed 1998-11-27
$193,000
ITECH
Listing removed 1998-10-25
$193,000
ITECH
Sold 1998-10-20
$175,000
ITECH
Listing removed 1998-09-26
$195,000
ITECH
Listed 1998-09-01
$174,000
ITECH
Listing removed 1998-06-04
$199,000
ITECH
Listed 1998-02-18
$99,000
ITECH
Listed 1998-01-13
$193,000
ITECH
Listed 1997-11-26
$193,000
ITECH
Listed 1997-11-04
$193,000
ITECH
Listing removed 1997-11-04
$195,000
ITECH
Listed 1997-09-25
$195,000
ITECH
Sold 1997-09-12
$195,000
ITECH
Listed 1997-08-01
$195,000
ITECH
Listed 1997-06-04
$195,000
ITECH
Listed 1997-06-03
$199,000
ITECH
Year Built: 1956
Common Walls: Attached
Entry Location: Main Level
Levels: Two Level
Living Area Source: Vendor Enhanced
Property Age: 68
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
Security Features: Gated
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.