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.
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
Price:
$2,180,000
MLS #:
PW25036101
Status:
Active
Baths:
0
Address:
1038 Dewey Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
kreakoreatown
City:
Los Angeles
Listed Date:
Feb 17, 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)
Fireplace Features
None
Exterior
Community Features
Sidewalks, Street Lights
Garage Spaces
8.00
Lot Features
6-10 Units/ Acre
Parking Features
Detached Carport
Parking Spots
8.00
Pool Features
None
Roof
Shingle
Security Features
Automatic Gate, Carbon Monoxide Detector(s), Smoke Detector(s)
Sewer
Public Sewer
Stories Total
3
Water Source
Public
Financial
Association Fee
0.00
Tenant Pays
Electricity, Gas
Utilities
Electricity Connected, Natural Gas Connected, Sewer Connected
Map
Community
- Address1038 Dewey Avenue Los Angeles CA
- AreaKREA – Koreatown
- CityLos Angeles
- CountyLos Angeles
- Zip Code90006
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1038 Dewey Avenue
Los Angeles, CA
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