Triplex for sale in Southern California — $1,099,000. 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 de…
$1,099,000
2942 W 12th, Los Angeles, CA 90006
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
Listing updated: June 16, 2026 at 3:24 PM
Listed by: Andrew McAllister, eXp Realty of Greater L.A
Source: CRMLS, MLS#: RS26069251, Originating MLS: California Regional MLS
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| Date | Event | Price |
|---|---|---|
6/16/2026 Source: CRMLS, #RS26069251 | Price change | $1,099,000-4.4% |
| 4/15/2026Source: CRMLS, #RS26069251 | Listed for sale | $1,150,000 |
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