$1,395,000

2942 W 12th Street, Los Angeles, CA

0.14

Acres

$100K Price Reduction - 7.26% Pro Forma Cap Rate! INCREDIBLE opportunity for an owner occupant or developer. Massive 5,020 square foot triplex on a prime corner lot in Koreatown. The property is comprised of (1) large stand-alone two-story 5BD/2BA house (delivered vacant), (1) 3BD/1BA and (1) 4BD/2BA occupied by long term tenants on month to month leases. The 5BD/2BA house has modestly updated bathrooms and kitchen, washer/dryer and many charming original details. In addition, a previous inspection reported mainly copper plumbing throughout the property. This is an rare opportunity to purchase a value add Triplex in the heart of Los Angeles with over 50% upside in rents and future development potential. The property is zoned R-3 (medium density residential) and is located in a Tier 2 TOC density bonus area.

Facts & Features

MLS® # RS20238482
Price $1,395,000
Bathrooms 0.00
Acres 0.14
Year Built 1905
Type Residential Income
Sub-Type Triplex
Status Active

Community Information

Address 2942 W 12th Street
Area KREA - Koreatown
City Los Angeles
County Los Angeles
State CA
Zip Code 90006

Amenities

Utilities Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Parking Spaces 1
# of Garages 1
Is Waterfront No
Has Pool No
Pool None

Interior

Interior Laminate, Tile, Wood
Interior Features Built-in Features, Cathedral Ceiling(s)
Cooling None
Has Basement No
Fireplace No
Stories Two

Exterior

Lot Description Corner Lot, Level
Roof Composition, Flat, Shingle

Additional Information

Date Listed November 16th, 2020
Days on Market 143
Zoning LAR3
Foreclosure No
Short Sale No
RE / Bank Owned No
HOA Fees 0.00

Listing Details

AgentAndrew Mcallister
OfficeNationwide Real Estate Execs

Listing Map

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