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 dynamic blend of traditional and contemporary influences, Koreatown is a bustling hub that offers a unique lifestyle characterized by its diverse culinary scene, vibrant nightlife, and an array of cultural experiences. With a population that reflects a melting pot of cultures, residents enjoy the warmth of community spirit alongside the conveniences of city living.

One of the standout property types in this exciting neighborhood is the triplex home. Ideal for both investors and families, triplex homes in Koreatown offer an exceptional opportunity to live in one unit while renting out the others, providing a seamless blend of comfort and income potential. These homes typically feature three separate living spaces, each with its own entrance, allowing for privacy and independence. With many triplexes boasting modern amenities, spacious layouts, and outdoor spaces, they cater to a variety of lifestyles.

Living in a triplex in Koreatown means you’re just steps away from an array of trendy restaurants, cafes, and shops. Enjoy a leisurely stroll to sample authentic Korean BBQ, indulge in delightful desserts, or explore the vibrant art scene that flourishes in this area. Additionally, Koreatown’s central location makes commuting to downtown Los Angeles and other key areas a breeze, ensuring that you’re never far from the action.

Whether you’re looking to invest or find a home that suits your lifestyle, Koreatown’s triplex properties offer the perfect blend of opportunity and community. Embrace the energy of this unique neighborhood and discover your next home in Koreatown 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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