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2942 W 12th St

Los Angeles CA 90006

12
5
5919 sq. ft.
Multi-Family
Currently for sale - view listing

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

Features

12 bedrooms
5 bathrooms
5919 sq. ft. lot size
Multi-Family

Property history for 2942 W 12th St

2018
Sold
$1,298,000
12 Jan 2018 by Gil Saraf, of Compass
2015
Sold
$875,000
02 Sep 2015 by Anna Lee, of Keller Williams Larchmont

Happy sellers in Los Angeles

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We have insufficient information to provide an overview of customer satisfaction for Los Angeles. Viewing the agent profiles, reviews and sales for Los Angeles can provide insights for this location.

Local market activity for 12 bedroom multi families in Los Angeles

In the last 12 months, 1 numeral.12-bedroom multi family similar to 2942 W 12th St, have been sold.

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