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 eclectic mix of restaurants, shops, and cultural experiences, Koreatown is a thriving hub that seamlessly blends tradition with modernity. Whether you're indulging in authentic Korean BBQ, exploring charming boutiques, or enjoying the bustling nightlife, this area offers something for everyone.

For those looking to invest in real estate, Koreatown presents an exciting opportunity, particularly with triplex homes. These unique properties not only provide a chance for multi-family living but also serve as a savvy investment for those seeking rental income. With the demand for housing in Los Angeles continually on the rise, triplexes in Koreatown offer a strategic advantage, allowing homeowners to live in one unit while renting out the others.

The architecture in Koreatown is as diverse as its residents, featuring a mix of modern designs and classic Los Angeles styles. Many triplex homes boast spacious layouts, offering ample room for families or multiple tenants. Additionally, the neighborhood's convenient access to public transportation and major highways makes commuting a breeze, further enhancing the appeal of these properties.

Living in Koreatown means embracing a lifestyle filled with cultural experiences, culinary delights, and a strong sense of community. With its unique blend of urban living and suburban charm, triplex homes in this dynamic neighborhood are not just houses; they are gateways to a vibrant lifestyle in one of the most exciting cities in the world. Explore the possibilities today and discover your dream home in Koreatown!

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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