$10,000 Closing Credit¹
#AR25019787, Ching Sze Louie, Listing Office: Louie Properties, Inc.
#PW25036101·
Listing Office: Lifetime Realty Inc·
Listing Agent: Soon Wook Kwon·
Listing Office Phone: 714-900-6404
$2,180,000 List price
1038 Dewey Ave Los Angeles, CA 90006
$10,000
Closing credit¹
0.1 acres
Condo
Property details
About 1038 Dewey Ave
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.
Highlights
Home typeCondominium
StatusActive
CoolingWall/Window Unit(s)
Lot size0.1356 Acres
Year built1989
ParkingDetached Carport
MLS #PW25036101
Garage8 spaces
Virtual tour
Summary
- MLS Number: PW25036101
- MLS Name: CRMLS
- Office Name: Lifetime Realty Inc
- Office Phone: (714) 900-6404
- Listing Agent: Soon Wook Kwon
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/21/2025, 5:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$2,180,000
1038 Dewey Ave
$10,000
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| May 29, 2018 | Home Sold | $1,600,000 |
| Jan 05, 2018 | Home Sold | $1,280,000 |
| Jun 05, 1997 | Home Sold | $250,000 |
| Oct 18, 1989 | Home Sold | $540,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $1,784,827 | $22,467 |
| 2023 | $1,749,832 | $22,046 |
| 2022 | $1,715,522 | $21,049 |
| 2021 | $1,681,885 | $20,777 |
| 2020 | $1,664,640 | $20,181 |
| 2019 | $1,632,000 | $5,365 |
| 2018 | $373,615 | $5,220 |
| 2017 | $366,290 | $5,220 |
History based on county public records data.
Nearby schools
3
RFK Community Schools - Ambassador School of Global Education
Public District KG-5
0.5 mi
•3201 W 8th St
2
Politi Elementary School
Public District KG-5
0.5 mi
•2481 W 11th St
4
Vista Horizon Global Academy
Public Charter KG-5
0.5 mi
•980 S Hobart Blvd
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $29,044. The most common annual income of people living in Los Angeles, CA is less than $<35k. The majority of families are single, no kids. Typical level of education for residents in this area is high school diploma.
How much money do the neighbors make?
59%
<35k
30%
35k-100k
7%
100k-200k
4%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
54%
Single, No Kids
15%
Single, with Kids
17%
Married, No Kids
14%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
11%
<11 yrs old
6%
12-17 yrs old
27%
18-34 yrs old
43%
35-64 yrs old
13%
65+ yrs old
What do the neighbors do for fun?
Pro Boxing
Mexican League Soccer
Major League Soccer (MLS)
Where do the neighbors shop?
H&M
Foot Locker
Burlington
Where do the neighbors go to eat?
Boston Market
Little Caesars
White Castle
What do the neighbors drive?
Honda
Dodge
Kia
What do the neighbors listen to?
Rhythmic Contemporary Hits
Urban Adult Contemporary
All data provided by Home Junction and Claritas
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Frequently asked questions
About 1038 Dewey Ave
This home is located at 1038 Dewey Ave in Los Angeles, CA and zip code 90006 in the Central LA neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since February 18, 2025 and is currently priced at $2,180,000.
While more than 294 listings in Los Angeles, CA in January 2025 were sold above asking price, there were more than 161 listings sold at asking price, and more than 545 were sold below. The inventory of homes for sale in Los Angeles, CA between December and January 2025 increased by 20.1%. In January 2025, listings were on the market for 45 days. During the same period, the median list price in this real estate market was $1,035,435.
From Rocket Homes Real Estate and based on county public records data.