1038 Dewey Ave, Los Angeles, CA 90006

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.