2942 W 12th, Los Angeles, CA 90006
2942 W 12th, Los Angeles, CA 90006
2942 W 12th, Los Angeles, CA 90006
2942 W 12th, Los Angeles, CA 90006
2942 W 12th, Los Angeles, CA 90006
2942 W 12th, Los Angeles, CA 90006
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Ruby Raymond

Ruby Raymond

+1(805) 201-6341
$ 1,099,000
Est. payment | /mo

5,919 Sqft Lot

Save
$ 1,099,000
Est. payment | /mo
Save

5,919 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID RS26069251

HOA Y/N No

Year Built 1905

Lot Size 5,919 Sqft

Property Sub-Type Triplex

Property Description

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

Location

State CA

County Los Angeles

Area Krea - Koreatown

Zoning LAR3

Interior

Heating Wall Furnace

Cooling None

Fireplaces Type None

Fireplace No

Laundry Inside

Exterior

Parking Features Door-Single, Garage

Garage Spaces 1.0

Garage Description 1.0

Pool None

Community Features Curbs, Gutter(s), Street Lights, Sidewalks, Urban

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Total Parking Spaces 1

Private Pool No

Building

Lot Description Corner Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5080020001

Acceptable Financing Cash, Cash to New Loan, Conventional, FHA, Fannie Mae

Listing Terms Cash, Cash to New Loan, Conventional, FHA, Fannie Mae

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Andrew McAllister eXp Realty of Greater L.A 925-683-9203, DRE #01946829

NEARBY SCHOOL & BUSINESS

REVIEWS

Ximena Ames Nugent

Professional & Paid Attention to My Needs

I am very impressed with the professionalism of this team! They worked very hard with terrific attention to details and respect for my needs. I would highly recommend Ruby and Patrick as they are knowledgeable, and dedicated to their clients.

Jeff M

Purchase

Ruby and the Raymond Team were great. We're in our new home right now writing this. Ruby helped make this happen and if you are looking for a home in the 5 Cities area I suggest you give Ruby a call. Thanks Ruby, SM

RonSteinback

The broker that everyone hopes to hire!

Patrick listed and sold two properties for me this year, and I intend to use him on a third transaction. Patrick is responsive and knows the local area. I am a broker myself, but located in southern California. Patrick is the broker that everyone hopes to hire!

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How Does The Raymond Team Deliver Exceptional Real Estate Service?

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Proven Systems

Over 23 years of real estate experience  has helped us perfect our results-driven buying and selling systems.

Results Driven

We listen, we communicate, and we track every step of the process to ensure a seamleass transaction.

Ruby Raymond
Ruby Raymond

Broker Associate | License ID: 01342959

+1(805) 201-6341 | homes@raymondteamre.com

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By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from or on behalf of Ruby Raymond, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.