We present a prime 6-unit investment property centrally located in Koreatown, one of Los Angeles’ most sought-after neighborhoods. Offering a solid 5.52% cap rate and not subject to LA City Rent Control (RSO), this building consists of two large 2bd+2ba+Den units on the second floor and four spacious 1bd+1ba units on the third floor. The ground level offers eight side-by-side parking spaces. There is a bonus outdoor area perfect for BBQ and lounging in the rear. The property is fully occupied by responsible tenants, ensuring stable cash flow. Recent upgrades include a new roof installed just two years ago, and all units feature updated kitchens and bathrooms completed within the past 34 years. This property benefits from strong rental demand due to its proximity to Wilshire Blvd, major transit lines, trendy cafes, top-tier dining, grocery markets and shopping. This is a rare opportunity to acquire a prime, turnkey asset in one of LA’s most dynamic and high-growth submarkets.
Property Details
Price:
$2,200,000
MLS #:
25557051
Status:
Active
Baths:
0
Address:
1038 Dewey Avenue
Type:
Residential Income
Neighborhood:
c17midwilshire
City:
Los Angeles
Listed Date:
Jun 30, 2025
State:
CA
ZIP:
90006
Lot Size:
5,908 sqft / 0.14 acres (approx)
Year Built:
1989
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Schools
Interior
Cooling
Wall/ Window Unit(s)
Exterior
Parking Features
Covered, Gated, Assigned
Parking Spots
8.00
Stories Total
3
Financial
Map
Community
- Address1038 Dewey Avenue Los Angeles CA
- AreaC17 – Mid-Wilshire
- CityLos Angeles
- CountyLos Angeles
- Zip Code90006
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1038 Dewey Avenue
Los Angeles, CA
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