CA > Los Angeles
Los Angeles, CA 90006,1038 Dewey AVE
Los Angeles, CA 90006,1038 Dewey AVE
Los Angeles, CA 90006,1038 Dewey AVE
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$2,180,000
Est. payment /mo
5,906 Sqft Lot
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Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW25036101

HOA Y/N No

Year Built 1989

Lot Size 5,906 Sqft

Property Sub-Type Apartment

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 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.

Location

State CA

County Los Angeles

Area Krea - Koreatown

Zoning LAR4

Interior

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Laundry None

Exterior

Parking Features Detached Carport

Garage Spaces 8.0

Garage Description 8.0

Pool None

Community Features Street Lights, Sidewalks

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected

Roof Type Shingle

Total Parking Spaces 8

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 3

Entry Level Three Or More

Sewer Public Sewer

Water Public

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 5078013018

Security Features Carbon Monoxide Detector(s),Security Gate,Smoke Detector(s)

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by Soon Wook Kwon • Lifetime Realty Inc • 714-900-6404

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