1038 Dewey AVE Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90006
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW25036101
Year Built 1989
Lot Size 5,908 Sqft
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
Special Listing Condition Not Applicable