Koreatown (KREA) Homes with Triplex Subtype

Welcome to Koreatown, one of Los Angeles' most vibrant and culturally rich neighborhoods! Nestled in the heart of the city, Koreatown (KREA) is a dynamic blend of tradition and modernity, offering a unique lifestyle that attracts residents from all walks of life. Known for its bustling atmosphere, Koreatown is a culinary haven featuring an array of authentic Korean restaurants, trendy cafes, and lively nightlife options that keep the streets buzzing day and night.

The housing market in Koreatown is as diverse as its community, with triplex homes becoming increasingly popular among buyers. These charming properties provide a fantastic opportunity for those looking to invest in real estate while enjoying the benefits of multi-family living. Triplex homes in Koreatown offer spacious layouts, allowing for flexible living arrangements—perfect for families or investors seeking rental income.

With the convenience of urban living, residents can easily access public transportation, making commutes to Downtown Los Angeles and other parts of the city a breeze. The neighborhood is also home to numerous parks, cultural landmarks, and shopping centers, ensuring that everything you need is just a stone's throw away.

Whether you're looking to settle down in a vibrant community or invest in a property with great potential, Koreatown's triplex homes provide the ideal blend of comfort, culture, and convenience. Discover the charm of Koreatown today, and explore the possibilities that await you in this exceptional neighborhood!

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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