Koreatown (KREA) Homes with Triplex Subtype

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 renowned for its lively atmosphere, diverse culinary scene, and unique blend of traditional and modern influences. With a population that reflects a tapestry of cultures, this area offers an exciting urban lifestyle that is both dynamic and welcoming.

Koreatown is not just a hub for delicious Korean BBQ and late-night karaoke; it also boasts a thriving community spirit and a variety of amenities. Residents enjoy easy access to parks, shopping centers, and an array of entertainment options, making it an ideal locale for families, young professionals, and anyone seeking a lively urban experience. The neighborhood is well-connected with public transportation, ensuring that all of Los Angeles is within reach.

For those considering a home in this bustling area, triplex properties present a fantastic opportunity. These multi-family homes provide versatility, allowing for investment potential or the chance to live close to family while maintaining privacy. A triplex in Koreatown can be an excellent choice for homeowners looking to supplement their income through rental units or for investors aiming to capitalize on the area's growing popularity.

With its rich culture, convenient location, and diverse housing options, Koreatown is a hidden gem in Los Angeles. Whether you're a foodie, a culture enthusiast, or simply seeking a lively neighborhood to call home, Koreatown offers something for everyone. Explore the possibilities of triplex living in this vibrant community today!

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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