11
See all 11 photos
$2,180,000
Est. payment /mo
5,216 SqFt
Active
1038 Dewey Avenue Los Angeles, CA 90006
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,216 sqft
Price per Sqft $417
MLS Listing ID CRPW25036101
HOA Y/N No
Year Built 1989
Lot Size 5,908 Sqft
Acres 0.14
Property Sub-Type Other
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 remain
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Laundry No Hookups
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 5078013018
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Listed by Soon Wook Kwon • Lifetime Realty Inc