2942 W 12th, Los Angeles, CA — listing photo 1
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FOR SALE

2942 W 12th

Los Angeles, CA 90006
5,919 Lot Sq Ft
Built 1905
$1,099,000
Price ReducedWas $1,150,000 — $1,099,000 (-$51,000)

Property Overview

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

Home Details

Property type
Residential Income - Triplex
Year built
1905
Lot size
5,919 sq ft
Parking
1 spaces
Garage
1 spaces
Stories
2
Days on market
166
MLS status
Active
Zoning
LAR3

Features & Amenities

Parking

  • Door Single
  • Garage

Pool

  • None

Lot

  • Corner Lot

Community, Schools & Utilities

Utilities

Heating
WallFurnace
Cooling
None
Water
Public
Sewer
PublicSewer
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Location & Neighborhood

2942 W 12th

Los Angeles, CA 90006

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Frequently Asked Questions About 2942 W 12th

Property type: Residential Income

The current asking price is $1,099,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.
Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 2942 W 12th. Our team will confirm availability and timing.
This property offers the living space reported in the listing. It was built in 1905. Review the listing details and disclosures, then independently verify material features before making a decision.
The property is in Los Angeles, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.
Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Los Angeles property.
The MLS currently reports the property as Active. It has been listed for 166 days. Status can change, so verify availability before relying on it.

What clients say

“Reza was the best agent we have ever worked with.”Russell & Susan McQueen

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Listing Agent

Name: Andrew McAllister
MLS ID: RSMCALAND

Available property

$1,099,000

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Data provided by California Regional Multiple Listing Service, Inc. ("CRMLS"). Information is for viewer's personal, non-commercial use. All data should be independently verified for accuracy.