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Listed by Soon Wook Kwon • Lifetime Realty Inc
$ 2,180,000
Est. payment /mo
Active
1038 Dewey Avenue Los Angeles, CA 90006
5,216 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 5,216 sqft
Price per Sqft $417
MLS Listing ID PW-25036101
Year Built 1989
Lot Size 5,908 Sqft
Property Sub-Type Apartment
Property Description
Prime 6-Unit Investment Property in the Heart of Koreatown - 6% Cap Rate & No City Rent Control! This rare 6-unit apartment building, built in 1989, is a prime investment opportunity in Los Angeles' Koreatown, one of the city's fastest-growing and most sought-after rental markets. Offering a strong 6% cap rate, this property is strategically located near Crypto.com Arena and Wilshire Boulevard, ensuring high demand from tenants seeking a central, vibrant location. Property Highlights: Unit Mix: Two large 3-bedroom, 2-bath units on the second floor, each with two separate entrances--perfect for rental flexibility and maximizing income. Four spacious 1-bedroom units on the third floor, ideal for steady rental demand. Recent Upgrades: The property has been improved while maintaining rents below market, offering immediate upside potential. No LA City Rent Control (RSO): Built after 1978, this property is not subject to city rent control, allowing for greater rental income growth and management flexibility. Prime Location & Investment Potential: Koreatown continues to be one of the strongest rental markets in Los Angeles, boasting rapid appreciation and increasing rental rates. With top-tier restaurants, shopping, nightlife, and entertainment just minutes away, tenant demand remains high. Additionally, the proximity to Crypto.com Arena, Wilshire Blvd., and major transit hubs enhances long-term value. This is a rare chance to acquire a high-income-producing asset in one of LA's most dynamic submarkets. Don't miss out! Contact us today for more details.
Location
State CA
County Los Angeles
Area Krea - Koreatown (L)
Zoning LAR4
Interior
Cooling Wall/Window Unit(s)
Fireplaces Type None
Laundry None
Exterior
Parking Features Detached Carport
Garage Spaces 8.0
Pool None
Community Features Sidewalks, Street Lights
Utilities Available Sewer Connected, Electricity Connected, Natural Gas Connected
Building
Lot Description 6-10 Units/Acre
Sewer Public Sewer
Others
Virtual Tour https://youtu.be/qnKZs7o6puc