1038 Dewey Ave

We present a prime 6-unit investment property centrally located in Koreatown, one of Los Angeles' most sought-after neighborhoods.

Offering a solid 5.47% 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.

This home located at 1038 Dewey Ave is currently pending and has been available on pardeeproperties.com for 72 days. This property is listed at $2,200,000. It has 8 beds and 8 bathrooms. The property was built in 1989. 1038 Dewey Ave is in the Mid-Wilshire community of County.

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