About 2942 W 12th
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
Features of 2942 W 12th
| MLS® # | RS26069251 |
|---|---|
| Price | $1,099,000 |
| Bedrooms | 12 |
| Bathrooms | 5.00 |
| Lot Size | 5,919 |
| Year Built | 1905 |
| Type | Residential Income |
| Sub-Type | Triplex |
| Status | Active |
| # Of Units | 3 |
Community Information
| Address | 2942 W 12th |
|---|---|
| Area | KREA - Koreatown |
| City | Los Angeles |
| County | Los Angeles |
| Zip Code | 90006 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Parking Spaces | 1 |
| Parking | Door-Single, Garage |
| # of Garages | 1 |
| Garages | Door-Single, Garage |
| Is Waterfront | No |
| Has Pool | No |
| Pool | None |
Interior
| Heating | Wall Furnace |
|---|---|
| Cooling | None |
| Has Basement | No |
| Fireplace | No |
| Fireplaces | None |
| # of Stories | 2 |
| Stories | Two |
Exterior
| Lot Description | Corner Lot |
|---|
Additional Information
| Date Listed | March 18th, 2026 |
|---|---|
| Days on Market | 146 |
| Zoning | LAR3 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Andrew Mcallister |
|---|---|
| Office | eXp Realty of Greater L.A |