Koreatown (KREA) Homes with Triplex Subtype

Welcome to Koreatown (KREA), a vibrant and culturally rich enclave nestled in the heart of Los Angeles, California. This dynamic neighborhood is renowned for its diverse culinary scene, bustling nightlife, and unique blend of traditional and modern influences. With its distinctive architecture and lively atmosphere, Koreatown has become a sought-after destination for both residents and visitors alike.

In recent years, the real estate market in Koreatown has flourished, particularly with the rise of triplex homes. These multi-family residences offer an exceptional opportunity for investors and homeowners looking to maximize their living space while enjoying the perks of urban living. Triplex homes in Koreatown typically feature three separate living units, making them an ideal choice for families wanting to live close together or those seeking rental income.

The charm of Koreatown extends beyond its homes; the neighborhood is a cultural melting pot, offering an array of shops, restaurants, and entertainment options. From authentic Korean BBQ joints to trendy cafes and vibrant nightlife spots, there’s something for everyone. Residents can also enjoy easy access to public transportation, making commuting to downtown Los Angeles and beyond a breeze.

With its unique blend of community spirit, accessibility, and investment potential, Koreatown is not just a place to live; it's a lifestyle. Whether you're a first-time homebuyer or an experienced investor, triplex homes in this thriving neighborhood provide an exciting opportunity to be part of one of Los Angeles' most dynamic communities. Embrace the charm of Koreatown and discover your perfect home today!

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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