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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 and a clear path to stronger in-place returns. 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
Property Type(s):
Residential Income
| Last Updated | 4/15/2026 | Year Built | 1905 |
|---|---|---|---|
| Community | KREA - Koreatown | Garage Spaces | 1.0 |
| County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| AREA | KREA - Koreatown |
| GARAGE | Yes |
| HEAT | Wall Furnace |
| LOT | 5920 sq ft |
| LOT DESCRIPTION | Corner Lot |
| LOT DIMENSIONS | 5919 |
| PARKING | Garage |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| UTILITIES | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
| WATER | Public |
Location
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Listed with eXp Realty of Greater L.A
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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