1025 Dewey Avenue 205, Los Angeles, California 90006, Los Angeles, 90006 - 2 bed, 2 bath
ACTIVE$550,000
1025 Dewey Avenue 205, Los Angeles, California 90006
2Beds
2Baths
1,000Sqft
11,830Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Investment Potential: Currently tenant-occupied with a monthly rent of $2,800, offering immediate income for investors.
Top Cons:
Recent Price Drop: A significant $50,000 price reduction from the original list price may signal market resistance or initial overvaluation, potentially impacting buyer confidence.
Compared to the nearby listings
Price:$550.0K vs avg $600.0K ($-50,000)40%
Size:1,000 sqft vs avg 1,000 sqft50%
Price/sqft:$550 vs avg $60434%
More Insights
Built in 2006 (19 years old).
Condition: This property, built in 2006, falls within the 10-20 year age range for a 'Good' rating. The description notes 'NEW paint/ceiling and walls,' indicating recent cosmetic updates. The kitchen features granite countertops and stainless steel appliances that appear modern and well-maintained, consistent with a contemporary style from its build era. The bathrooms are clean and functional with matching granite, though some fixtures like the vanity light are standard for the period. Hardwood and laminate flooring are in good condition. The unit is move-in ready with no immediate major renovations required, and its systems are likely well-maintained and within their expected lifespan.
Year Built
2006
Close
-
List price
$550K
Original List price
$599K
Price/Sqft
$550
HOA
$480
Days on market
-
Sold On
-
MLS number
25619781
Home ConditionGood
Features
Good View: Peek-A-Boo
ViewPeek-A-Boo
About this home
PRICE DROPPED $50,000.00 FOR QUICK SALE. LOWEST PRICE IN MID-WILSHIRE, KOREA-TOWN. CURRENTLY, TENANT OCCUPIED. GREAT INVESTMENT OPPORTUNITY!! Current Rent Per month: $2,800.00, New paint/ceiling and walls. NEWLY BUILT-IN 2006. CONTEMPORARY 2 BEDROOM & 2 FULL BATHROOM, BRIGHT & AIRY SOUTHWEST FACING CORNER UNIT!! SOUTH-FACING LARGE BALCONY. OPEN FLOOR PLAN WITH HARDWOOD FLOORING & LAMINATE FLOORING IN THE BEDROOMS. MODERN-STYLE KITCHEN WITH GRANITE COUNTERTOPS. CROWN MOLDING. HIGH CEILING. DUAL PANE WINDOWS PROVIDE PLENTIFUL NATURAL LIGHTS SHINE ALL DAY LONG!! PRIMARY BEDROOM WITH WALK-IN CLOSET. GATED COMMUNITY WITH SECURED PARKING. LOCATION IS EASY ACCESS TO DOWNTOWN, OLYMPIC TO WESTSIDE. LESS TRAFFIC AREA, CLOSE TO FREEWAYS, DOWNTOWN, USC, & SANTA MONICA. CONVENIENTLY LOCATED TO EVERYTHING!! THIS WON'T LAST!!
Nearby schools
/10
Mariposa-Nabi Primary Center
Public,•K-2•0.2mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•0.4mi
3/10
Hobart Boulevard Elementary School
Public,•K-5•0.5mi
3/10
Leo Politi Elementary School
Public,•K-5•0.5mi
3/10
Los Angeles Elementary School
Public,•K-5•0.6mi
3/10
Magnolia Avenue Elementary School
Public,•K-6•0.7mi
8/10
Hoover Street Elementary School
Public,•K-5•0.7mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•1.0mi
2/10
Tenth Street Elementary School
Public,•K-5•1.3mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.4mi
5/10
Vermont Avenue Elementary School
Public,•K-5•1.5mi
4/10
Norwood Street Elementary School
Public,•K-5•1.5mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•1.6mi
3/10
Berendo Middle School
Public,•6-8•0.2mi
5/10
Pio Pico Middle School
Public,•6-8•1.3mi
3/10
John H. Liechty Middle School
Public,•6-8•1.5mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•1.9mi
4/10
John Adams Middle School
Public,•6-8•2.4mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•0.5mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•0.5mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•0.5mi
4/10
West Adams Preparatory High School
Public,•9-12•0.9mi
3/10
Belmont Senior High School
Public,•9-12•2.0mi
5/10
Foshay Learning Center
Public,•K-12•2.3mi
5/10
Santee Education Complex
Public,•9-12•2.5mi
3/10
Nava College Preparatory Academy
Public,•9-12•3.9mi
Price History
Date
Event
Price
02/28/18
Sold
$529,000
03/26/15
Sold
$447,000
Condition Rating
Good
This property, built in 2006, falls within the 10-20 year age range for a 'Good' rating. The description notes 'NEW paint/ceiling and walls,' indicating recent cosmetic updates. The kitchen features granite countertops and stainless steel appliances that appear modern and well-maintained, consistent with a contemporary style from its build era. The bathrooms are clean and functional with matching granite, though some fixtures like the vanity light are standard for the period. Hardwood and laminate flooring are in good condition. The unit is move-in ready with no immediate major renovations required, and its systems are likely well-maintained and within their expected lifespan.
Pros & Cons
Pros
Investment Potential: Currently tenant-occupied with a monthly rent of $2,800, offering immediate income for investors.
Modern & Updated Unit: Built in 2006, featuring contemporary design, new paint, open floor plan, hardwood/laminate flooring, modern kitchen with granite, crown molding, high ceilings, and dual-pane windows.
Optimal Unit Orientation & Features: Southwest-facing corner unit ensures abundant natural light, complemented by a large south-facing balcony and a primary bedroom with a walk-in closet.
Strategic Location: Situated in Mid-Wilshire/Koreatown with excellent accessibility to Downtown, Westside, freeways, USC, and Santa Monica.
Security & Convenience: Located within a gated community offering secured parking, enhancing resident safety and ease of access.
Cons
Recent Price Drop: A significant $50,000 price reduction from the original list price may signal market resistance or initial overvaluation, potentially impacting buyer confidence.
High Monthly Association Fee: The $480 monthly association fee represents a considerable recurring expense, which could affect affordability and overall ownership costs.
Tenant Occupancy: While beneficial for investors, the current tenant occupancy might pose challenges for owner-occupant buyers regarding move-in timelines and property access.