14
See all 14 photos
Listed by Andrew McAllister, DRE #01946829 • eXp Realty of Greater L.A
$1,099,000
Est. payment /mo
5,919 Sqft Lot
Price Dropped by $51K
2942 W 12th Los Angeles, CA 90006
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRRS26069251
Year Built 1905
Lot Size 5,919 Sqft
Property Sub-Type Triplex
Source California Regional MLS
Property Description
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
Location
State CA
County Los Angeles
Area Krea - Koreatown
Interior
Heating Wall Furnace
Cooling None
Laundry Other
Exterior
Parking Features Garage
Garage Spaces 1.0
Pool None
Building
Water District - Public
Others
Tax ID 5080020001
Special Listing Condition Not Applicable
Copyright 2026 MLSListings Inc All rights reserved.