Koreatown (KREA) Homes with Triplex Subtype

**Discover the Vibrant Charm of Koreatown, Los Angeles**

Nestled in the heart of Los Angeles, Koreatown (KREA) is a vibrant and culturally rich neighborhood that seamlessly blends tradition with modernity. Known for its bustling streets, Koreatown is a culinary paradise, boasting an array of authentic Korean restaurants, trendy cafes, and late-night eateries that beckon food lovers from all over the city. The area is alive with energy, featuring a mix of shops, entertainment venues, and cultural landmarks that reflect the rich heritage of its residents.

For those looking to invest in real estate, Koreatown offers a unique opportunity with its triplex homes. These multifamily properties are not only a sound investment but also a chance to immerse yourself in a thriving community. With triplex homes, you can enjoy the benefits of rental income while living in one unit and renting out the others. This setup is perfect for families or individuals seeking to create a multifaceted living experience in a lively neighborhood.

Koreatown's triplex homes are often characterized by their charming architecture and strategic locations, providing easy access to public transportation and major highways. The neighborhood is known for its walkability, making it convenient for residents to explore local parks, shops, and cultural events. With a diverse demographic and a strong sense of community, Koreatown is not just a place to live; it's a lifestyle enriched by the vibrant tapestry of its inhabitants.

Whether you’re looking for an investment opportunity or a new place to call home, Koreatown’s triplex homes offer the perfect blend of comfort, culture, and convenience in one of Los Angeles’ most dynamic neighborhoods. Come and experience the magic of Koreatown for yourself!

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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