1038 Dewey Avenue
Los Angeles, CA 90006
- – beds
- – baths
- – sqft
- 5,908 sqft lot
- 1989 build
- – on site
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.
Last checked:
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Last updated Feb 19, 2025
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MLS# PW25036101 —
The Building
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Year Built:1989
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:5216.00
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Building Area Units:Square Feet
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Total Number Of Units:6
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# of Buildings:1
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Roof:Shingle
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Stories Total:3
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:7
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# of Separate Water Meters:1
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# of Separate Electric Meters:7
Interior
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Levels:Three Or More
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Entry Location:1
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Fireplace:No
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Fireplace:None
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Laundry:None
Location
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Directions:Olympic Blvd. Dewey Ave.
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Latitude:34.05154400
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Longitude:-118.29548300
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Zoning:LAR4
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Lot Features:6-10 Units/Acre
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Lot Size Area:5908.0000
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Lot Size Acres:0.1356
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Lot Size SqFt:5908.00
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Lot Size Source:Assessor
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Security Features:Automatic Gate, Carbon Monoxide Detector(s), Smoke Detector(s)
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:23
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Tax Census Tract:2133.20
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Tax Lot:18
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5078013018
Heating & Cooling
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Cooling:Yes
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Cooling:Wall/Window Unit(s)
Utilities
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Utilities:Electricity Connected, Natural Gas Connected, Sewer Connected
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Sewer:Public Sewer
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Water Source:Public
The Community
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Features:Sidewalks, Street Lights
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Association:No
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Pool:None
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Senior Community:No
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Private Pool:No
Parking
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Parking:Yes
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Parking:Detached Carport
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Parking Spaces:8.00
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Garage Spaces:8.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
2/18/25
Feb 18, 2025
|
Listed / Active | CRMLS_CA | $2,180,000 | |
|
5/7/24
May 7, 2024
|
Listed / Active | CRMLS_CA | ||
|
11/9/23
Nov 9, 2023
|
Listed / Active | CRMLS_CA |
