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 lively atmosphere, Koreatown offers a unique blend of traditional Korean culture and modern urban living. With an array of restaurants, shops, and entertainment options, residents enjoy a dynamic lifestyle that reflects the diversity of the city.

Koreatown is renowned for its impressive culinary scene, featuring everything from authentic Korean BBQ to trendy cafes and dessert spots. The bustling streets are alive with energy, making it a perfect place for those who thrive in a lively environment. Additionally, the neighborhood is well-connected to public transportation, allowing easy access to downtown Los Angeles and other nearby attractions.

Among the housing options in Koreatown, triplex homes stand out as a unique opportunity for both investors and families. These properties offer a versatile living arrangement, with three separate units that can accommodate multiple generations or provide rental income. Whether you’re looking to invest or seeking a spacious home with room for loved ones, triplexes in Koreatown present an ideal solution.

With a mix of modern architecture and charming historical buildings, homes in this area boast character and potential. The triplex subtype allows homeowners to enjoy the benefits of multi-family living while being part of a vibrant community. Discover the charm of Koreatown, where culture, convenience, and community come together to create a truly exceptional living experience. Embrace the opportunity to call this dynamic neighborhood home!

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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