Koreatown (KREA) Homes with Triplex Subtype

Welcome to Koreatown (KREA), a vibrant and culturally rich neighborhood nestled in the heart of Los Angeles, California. Known for its diverse culinary scene, bustling nightlife, and unique blend of cultures, Koreatown is a dynamic area that offers residents a truly immersive urban experience. With its convenient location, just minutes away from downtown LA, this thriving community is ideal for those seeking both excitement and accessibility.

One of the standout features of Koreatown is its eclectic mix of housing options, including the increasingly popular triplex homes. These multi-family residences provide an excellent opportunity for investors and homeowners alike. With a triplex, you can enjoy the benefits of homeownership while generating rental income from the additional units. It’s a smart way to maximize your investment in a neighborhood that continues to grow in desirability.

The triplex homes in Koreatown feature a variety of architectural styles, from charming vintage designs to modern constructions, catering to different tastes and preferences. Many of these properties come with spacious layouts and outdoor areas, perfect for families or those who appreciate a bit of green space in the city.

Living in Koreatown means you’re never far from incredible dining options, vibrant markets, and cultural events that celebrate the area's rich heritage. With a strong sense of community and an ever-evolving landscape, Koreatown is more than just a place to live; it’s a lifestyle. Explore the possibilities of triplex living in this dynamic neighborhood and discover your new home in the heart 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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