14
See all 14 photos
$1,150,000
Est. payment /mo
12 Beds
5 Baths
5,919 Sqft Lot
New
2942 W 12th Los Angeles, CA 90006
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID RS26069251
Bedrooms 12
Lot Size 5,919 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
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 and a clear path to stronger in-place returns. 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
Zoning Assessor
Direction Corner of 12th and Harvard
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5080020001
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Listed by Andrew McAllister, DRE#01946829 eXp Realty of Greater L.A
NEARBY SCHOOL & BUSINESS
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