Koreatown (KREA) Homes with Triplex Subtype

Welcome to Koreatown, a vibrant and culturally rich neighborhood nestled in the heart of Los Angeles, California. Known for its dynamic blend of history, food, and community, Koreatown offers an exciting lifestyle that captures the essence of urban living. With its bustling streets lined with an array of restaurants, shops, and entertainment options, this area is a melting pot of culture and creativity.

Koreatown is particularly renowned for its culinary delights, featuring everything from traditional Korean BBQ to trendy cafes and dessert spots. The neighborhood is also home to a thriving arts scene, with murals and galleries that showcase the talents of local artists. With easy access to public transportation and proximity to downtown Los Angeles, residents enjoy the perfect balance of convenience and excitement.

For those looking to invest in real estate, Koreatown offers a unique opportunity with its triplex homes. These properties not only provide ample living space but also present a fantastic investment potential. Triplex homes in Koreatown allow homeowners to live in one unit while renting out the others, creating a steady stream of income. The demand for rental properties in this bustling neighborhood is high, making it an ideal choice for both first-time buyers and seasoned investors.

With its diverse community, vibrant lifestyle, and promising real estate opportunities, Koreatown is more than just a place to live; it’s a place to thrive. Discover the charm of this lively neighborhood and explore the potential of triplex homes that await you in Koreatown, where culture meets opportunity.

Newest Koreatown (KREA) Homes with Triplex Subtype

$1,099,000

RS26069251 MLS ⋅ Active Status

Motivated Seller - $50K Price Reduction - 5.55% Current Cap Rate & 9.44% Pro Forma Cap Rate - 2942 W 12th Street, is an exceptionally located value-add triplex in the heart of Koreatown/Olympic Park consisting of a detached 5BD/2BA Craftsman house and a duplex with (1) 3BD/1BA unit and (1) 4BD/2BA unit, totaling approximately 5,020 rentable square feet on a 5,917 square foot LAR3 lot. The property offers a compelling investment profile with the two occupied units currently generating just $2,959/month combined at below-market rents, while the detached front house will be delivered vacant, providing immediate lease-up or owner-user flexibility. Current income is approximately $89,504 annually with the front unit rented and pro forma gross income projected at approximately $131,400. Representing over 50% upside in rents. The property also benefits from LAR3 zoning and Tier 2 TOC eligibility, creating longer term redevelopment and density bonus potential in one of Los Angeles’ most transit-oriented rental markets. Offered at an attractive price per square foot in a high demand location near Koreatown, Downtown LA, Metro access, and major employment hubs, this is a rare opportunity for investors seeking both current income upside and future development optionality

2942 W 12th, Los Angeles

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