1038 Dewey Avenue,Los Angeles, CA 90006
Los Angeles, CA 90006
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 entrancesperfect 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.
Details
| MLS# | PW25036101 |
|---|---|
| Listing Type | For Sale |
| Style | Town House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1989 |
| Days On Site | 90 |
| Listing Provided By | Lifetime Realty Inc 714-363-3888 | Soon Wook Kwon |
Features
| SQ Feet | 5,216 |
|---|---|
| Garage | 8 |
| Car Port | Yes |
| Story(s) | 3 |
| Units | 6 |
| Building(s) | 1 |
| Zoning | LAR4 |
| Acreage | 0.14 |
Market Activity 90006
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90006 |
| Area | KREA Koreatown |
| Listing VS Median (in 90006) | |
Price: $2,180,000 low | high Med: $1,100,000 SqFt: 5,216 low | high Med: 1,985 $ / SqFt: $418 low | high Med: $554 On site: 90 low | high Med: 46.000000 | |