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Listed by Soon Wook Kwon • Lifetime Realty Inc
$2,180,000
Est. payment /mo
5,908 Sqft Lot
Active
1038 Dewey AVE Los Angeles, CA 90006
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW25036101
Year Built 1989
Lot Size 5,908 Sqft
Source California Regional MLS
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 dema
Location
State CA
County Los Angeles
Area Krea - Koreatown
Interior
Cooling Window / Wall Unit
Laundry None
Exterior
Parking Features Detached Garage
Garage Spaces 8.0
Pool None
Roof Type Shingle
Building
Story Three or More Stories
Water District - Public
Others
Tax ID 5078013018
Special Listing Condition Not Applicable
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