Koreatown (KREA) Homes with Triplex Subtype

Welcome to Koreatown, a vibrant and eclectic neighborhood nestled in the heart of Los Angeles, California. Known for its rich cultural tapestry and bustling atmosphere, Koreatown offers a unique blend of tradition and modernity, making it one of the most sought-after areas in Los Angeles. With its lively streets adorned with a plethora of restaurants, cafes, and shops, residents and visitors alike can indulge in authentic Korean cuisine, explore charming boutiques, and experience the vibrant nightlife that Koreatown is famous for.

For those seeking a home in this dynamic community, triplex properties present a fantastic opportunity. Offering the perfect balance of space and versatility, triplex homes are ideal for families, investors, or anyone looking to enjoy the benefits of multi-generational living. With three separate units, these homes provide the flexibility to live in one unit while renting out the others, generating additional income.

Koreatown's triplex homes often feature unique architectural designs that reflect the area's cultural heritage, alongside modern amenities that cater to contemporary lifestyles. Residents can enjoy spacious layouts, outdoor areas, and easy access to local parks and recreational facilities. The neighborhood is well-connected with public transportation, ensuring that the bustling downtown Los Angeles and other key areas are just a short ride away.

In Koreatown, you’re not just buying a property; you’re investing in a lifestyle rich with culture, community, and endless possibilities. Whether you're looking to settle down or invest in a thriving market, Koreatown's triplex offerings are a perfect choice for those wanting to embrace the vibrant spirit of Los Angeles.

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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