2942 W 12th, Los Angeles, CA 90006
2942 W 12th, Los Angeles, CA 90006
2942 W 12th, Los Angeles, CA 90006
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Lucio Real Estate Group

Lucio Real Estate Group

+1(805) 512-0065
$1,099,000
Est. payment /mo
5,919 Sqft Lot
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID RS26069251

HOA Y/N No

Year Built 1905

Lot Size 5,919 Sqft

Property Sub-Type Triplex

Property Description

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

Location

State CA

County Los Angeles

Area Krea - Koreatown

Zoning LAR3

Interior

Heating Wall Furnace

Cooling None

Fireplaces Type None

Fireplace No

Laundry Inside

Exterior

Parking Features Door-Single, Garage

Garage Spaces 1.0

Garage Description 1.0

Pool None

Community Features Curbs, Gutter(s), Street Lights, Sidewalks, Urban

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Total Parking Spaces 1

Private Pool No

Building

Lot Description Corner Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5080020001

Acceptable Financing Cash, Cash to New Loan, Conventional, FHA, Fannie Mae

Listing Terms Cash, Cash to New Loan, Conventional, FHA, Fannie Mae

Special Listing Condition Standard

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Listed by Andrew McAllister eXp Realty of Greater L.A 925-683-9203, DRE #01946829

Nearby Locations

Get more details on this property

Lucio Real Estate Group
Lucio Real Estate Group

Broker Associate | License ID: 01893011

+1(805) 512-0065

www.LucioRealEstate.com

1000 Town Center Dr #300, Oxnard, CA, 93036, USA

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2942 W 12th

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