Turnkey 6-Unit Multifamily in Prime Koreatown – 6.29% Cap | Income-Producing | Rare Opportunity! Located in the heart of booming Koreatown, 1038 Dewey Ave offers a rare chance to own a stabilized 6-unit apartment with strong cash flow and upside potential. This well-maintained income property features spacious units, secure gated access, and a 6.29% cap rate — perfect for seasoned investors or 1031 exchange buyers. Walking distance to top restaurants, markets, and public transit. All units are tenant-occupied with solid rental history. Low maintenance and high returns. - Prime Koreatown Location - 6.29% Cap Rate - 6 Fully Rented Units - Close to Metro & Amenities The unit mix includes: Two large 3-bed, 2-bath units on the second floor, each with two separate entrances—ideal for maximizing rental flexibility. Four spacious 1-bed units on the third floor, perfect for steady rental demand. Recent upgrades have been made, yet current rents remain below market, presenting immediate upside potential for increased cash flow. Built after 1978, this property is NOT subject to LA City Rent Control (RSO), allowing for greater flexibility in rental adjustments. Koreatown continues to be a high-demand market with strong appreciation and rental growth, driven by its vibrant nightlife, cultural hotspots, and central LA location. Investors will benefit from long-term stability in one of the most dynamic submarkets in Southern California. Don’t miss this opportunity to own a high-income-producing asset in an area where properties rarely hit the market. Contact us today for details!