About 1038 Dewey Avenue
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. 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.
Features of 1038 Dewey Avenue
| MLS® # | 25557051 |
|---|---|
| Price | $2,200,000 |
| Sold Price | $2,130,000 |
| Bedrooms | 10 |
| Bathrooms | 18.00 |
| Square Footage | 5,216 |
| Lot Sqft | 5,908 |
| Acres | 0.14 |
| Year Built | 1989 |
| Type | Residential Income |
| Status | Closed |
| # Of Units | 6 |
Community Information
| Address | 1038 Dewey Avenue |
|---|---|
| Area | C17 - Mid-Wilshire |
| City | Los Angeles |
| County | Los Angeles |
| Zip Code | 90006 |
Amenities
| Parking Spaces | 8 |
|---|---|
| Parking | Assigned, Covered, Gated |
| Garages | Assigned, Covered, Gated |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Cooling | Wall/Window Unit(s) |
|---|---|
| Has Basement | No |
| Fireplace | No |
| # of Stories | 3 |
| Stories | Three Or More |
Additional Information
| Date Listed | June 30th, 2025 |
|---|---|
| Date Sold | November 21st, 2025 |
| Days on Market | 72 |
| Zoning | LAR4 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Johnny Cho |
|---|---|
| Office | Keller Williams Realty Los Feliz |