1038 Dewey Ave, Los Angeles, CA 90006
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1038 Dewey Ave Los Angeles, CA 90006

$2,150,000
  • 10 Beds
  • 8 Baths
  • 1 Sq.Ft.
For Sale
$2,150,000 Get Pre-Qualified

Map preview of 1038 Dewey Ave, Los Angeles, CA 90006

Property Overview: 1038 Dewey Ave Los Angeles, CA has 10 bedrooms, 8 bathrooms, 1 living square feet and 5,908 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: This is a 6-unit property located in the heart of LA's Koreatown. It is situated between Vermont and Western Avenues, right in the center of Olympic Boulevard. There are 2 units on the second floor, each with 3 bedrooms and 2 bathrooms, and both have two separate entrances. On the third floor, there are 4 one-bedroom units. The property has been recently upgraded and is currently renting at a rate below the market average, ensuring the potential for higher income in the future. There is no rent control in place.

Listed by Anna Jung | BRE #01481661 | Redpoint Realty
Last checked: 4 minutes ago | Last updated: March 24th, 2024 | Source CRMLS | DOM: 139
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Home details

Lot Sq. Ft
5,908
HOA Dues
$0/mo
Year built
1989
Garage
8 Car
Property Type:
Apartment
Status
Active
MLS#
PW23201464
City
Los Angeles
County
Los Angeles
Time on Site
140 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
  • # of Electric Meters: 6
  • # of Gas Meters: 6
  • # of Water Meters: 6
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,800
  • Total Rent: $2,800
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,900
  • Total Rent: $2,900
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,900
  • Total Rent: $1,900
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,800
  • Total Rent: $1,800
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $2,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $153,600
  • Net Operating Income: $118,543
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $35,057
  • Electric: $0
  • Gas/Fuel: $1,058
  • New Taxes: $22,046
  • Trash: $0
  • Insurance: $4,630
  • Professional Management: $0
  • Water/Sewer: $0
  • Other Expenses: $7,323
  • Other Expense Description: DWP

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Property Details for 1038 Dewey Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 8
  • # of Parking Spaces: 8
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 6
  • Parcel Number: 5078013018
  • Year Built Source: Seller
  • Entry Level: 2
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: olympic and dewey
Neighborhood Information
  • Community Features: Street Lights
View more facts & features

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Sale History for 1038 Dewey Ave

Last sold for $1,600,000 on May 29th, 2018
  • November, 2023

  • Nov 9, 2023

    Date

    Active

    CRMLS: PW23201464

    $2,150,000

    Price

  • August, 2023

  • Aug 15, 2023

    Date

    Canceled

    CRMLS: 23248221

    $2,390,000

    Price

  • Mar 7, 2023

    Date

    Active

    CRMLS: 23248221

    $2,390,000

    Price

  • Listing provided courtesy of CRMLS

    Great Investment Opportunity!! Location Location!! All Units are totally remodeled 5 years ago. 2 Units are 2 Bedrooms and 2 Bathrooms w/ Den on 2nd floor, 4 Units are 1 Bedroom and 1 Bathroom on top floor. This property was built in 1989 and has 3 stories. This apartment building located in Prime Koreatown. Tenants are surrounded by amenities including Restaurants, Shopping, Entertainment and Local Transportation. Easy access to 10, 110 and 5 Freeways. This property is rare opportunity to acquire a well-maintained asset with significant upside potential.

  • May, 2018

  • May 29, 2018

    Date

    Sold (Public Records)

    Public Records

    $1,600,000

    Price

  • January, 2018

  • Jan 5, 2018

    Date

    Sold (Public Records)

    Public Records

    $1,280,000

    Price

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Tax History for 1038 Dewey Ave

Assessed Value (2020): $1,664,640
Year Land Value Improved Value Assessed Value
2020 $1,352,520 $312,120 $1,664,640

Home Value Compared to the Market

This property vs the competition

1038 Dewey Ave is listed 72% higher than the median list price for the city of Los Angeles which has a median list price of $1,250,000. The median price per/sqft for Los Angeles is $770 and this home is listed at $2150000 per/sqft which puts the price per square foot 279120.78% higher than the median price per square foot for the city of Los Angeles.

About 1038 Dewey Ave

Detailed summary of property

1038 Dewey Ave is a apartment located in Los Angeles, CA 90006 and is currently for sale. This apartment offers 10 bedrooms, 8 bathrooms, roughly 1 living square feet, and sits on an approximately 5,908 square foot lot. 1038 Dewey Ave was first listed on ArdentRealEstateGroup.com on November 9, 2023. The homeowner is currently asking $2,150,000. The median priced home in Los Angeles is $1,250,000 with a median price per square foot of $770. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 72% higher than the median priced home. Local competing homes currently for sale include 2885 Francis Ave, 1100 Magnolia Ave and 1057 S Hobart Blvd. While the average home in Los Angeles, CA is selling in 100 days, 1038 Dewey Ave has a days on market of 139 days. There are currently 3287 homes for sale in the Los Angeles real estate market and 2252 of them are single family homes while 954 of them are condos and 78 are townhomes. For more information on this home for sale at 1038 Dewey Ave Los Angeles, CA 90006 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1038 Dewey Ave

Public county record property details
Beds
8
Baths
8
Year built
1989
Sq. Ft.
5,216
Lot Size
5,906
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
18
APN
5078-013-018

The source for these homes facts are from public records.

90006 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$699,000
Median List Price/Sq.Ft.
$621
Median Sold Price
$598,000
Median Sold Price/Sq.Ft.
$649
Total Inventory
29
Median Sale to List Price %
100%
Avg Days on Market
67
Loan Type
Conventional (20%), FHA (0%), VA (0%), Cash (0%), Other (40%)

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Related Resources to 1038 Dewey Ave

Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.