1038 Dewey Avenue
Los Angeles, CA 90006
0.14 acres | #PW25036101
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.
Property Details
- Utility FeaturesElectricityConnected, NaturalGasConnected, SewerConnected
- Lot DescriptionSixToTenUnitsAcre
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$2,180,000
- MLS #PW25036101
- MLS #PW25036101
- Property SubtypeApartment
- Cost2180000
- Acres0.1356
- Utility SourcePublic
- Year Built1989
- Stories3
- Parking Spaces8
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Soon Wook Kwon (#PWKWOSOO)
Listing Office: Lifetime Realty Inc (#PB16527)
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