25
See all 25 photos
$2,200,000
Est. payment /mo
8 Beds
8 Baths
5,216 SqFt
New
1038 Dewey AVE Los Angeles, CA 90006
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,216 sqft
Price per Sqft $421
MLS Listing ID 25557051
Bedrooms 8
HOA Y/N No
Year Built 1989
Lot Size 5,906 Sqft
Property Description
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.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR4
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Assigned, Covered, Gated
Total Parking Spaces 8
Building
Story 3
Entry Level Three Or More
Architectural Style See Remarks
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 5078013018
Special Listing Condition Standard
Listed by Johnny Cho Keller Williams Realty Los Feliz