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No, Nick Nolte Is Not Homeless

4/4/2008 12:39 PM PDT BY TMZ STAFF

He's just dressed down and out. Mugshot hall-of-famer and People's Sexiest Man Alive in 1992 (really, look it up!) struts his gangster lean around Malibu yesterday.

The Nebraska native began his career as a model and at 67, the vintage thesp could still land a magazine cover -- of AARP.

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