Koreatown (KREA) Homes with Triplex Subtype

Welcome to Koreatown (KREA), one of Los Angeles' most vibrant and culturally rich neighborhoods! Nestled in the heart of the city, Koreatown is a bustling hub known for its lively atmosphere, diverse culinary scene, and unique blend of cultures. With its striking mix of modern high-rises and historic architecture, this area offers an exciting urban lifestyle that appeals to residents and visitors alike.

Koreatown is not just a destination for delicious Korean BBQ and karaoke bars; it’s also a community that thrives on its sense of belonging and connection. The neighborhood boasts an array of amenities, including parks, shopping centers, and entertainment venues, making it a perfect place for families, young professionals, and retirees. Its central location provides easy access to public transportation, allowing residents to explore all that Los Angeles has to offer.

For those considering a home in this dynamic area, triplex properties in Koreatown represent a unique opportunity. These multifamily homes not only provide ample living space but also offer the potential for rental income, making them an attractive investment. With a triplex, you can live in one unit while renting out the others, creating a sustainable financial model that can support your lifestyle in this sought-after neighborhood.

Whether you're looking to immerse yourself in the local culture, enjoy diverse dining options, or invest in a property that offers both comfort and financial benefits, Koreatown is the place to be. Explore the charm of triplex homes in this lively enclave and discover your perfect slice of Los Angeles living!

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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