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 tradition and modernity, Koreatown is a thriving hub of activity that boasts an array of restaurants, shops, and entertainment options. With a diverse community and a strong sense of identity, this iconic area is not just a place to live; it’s a lifestyle.

Koreatown is renowned for its culinary scene, offering everything from authentic Korean BBQ to trendy cafes and dessert spots. The bustling streets are alive with energy, making it a fantastic place for those who appreciate urban living. With convenient access to public transportation and major highways, residents enjoy seamless connectivity to downtown Los Angeles and beyond.

For those considering a home in this lively neighborhood, triplex properties offer a unique opportunity. These multi-family homes not only provide ample living space but also the potential for rental income, making them an attractive option for both investors and families. Imagine living in one unit while renting out the others, all while being surrounded by the rich culture and amenities that Koreatown has to offer.

With a variety of triplexes available, you can find properties that range from modern designs with sleek finishes to charming vintage homes that reflect the area’s history. Whether you’re looking for a place to call home or an investment opportunity, Koreatown’s triplexes present a compelling option in one of Los Angeles’s most exciting neighborhoods. Embrace the vibrant lifestyle and make Koreatown your new home 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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