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    2942 W 12th Street

    Los Angeles (City), CA 90006
    • $1,495,000
    • STATUS: Active
    • ON SITE: 147 days
    • ID#: RS20238482
    UPDATED: 17 min ago
    $1,495,000
    • 0
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,020
      SQFT
    • $298
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1905
    County:

    School Ratings & Info

    Description

    INCREDIBLE opportunity for an owner occupant or developer. Massive 5,020 square foot triplex on a prime corner lot in Koreatown. The property is comprised of (1) large stand-alone two-story 5BD/2BA house (delivered vacant), (1) 3BD/1BA and (1) 4BD/2BA occupied by long term tenants on month to month leases. The 5BD/2BA house has modestly updated bathrooms and kitchen, washer/dryer and many charming original details. In addition, a previous inspection reported mainly copper plumbing throughout the property. This is an rare opportunity to purchase a value add Triplex in the heart of Los Angeles with over 50% upside in rents and future development potential. The property is zoned R-3 (medium density residential) and is located in a Tier 2 TOC density bonus area.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-13T22:27:10.603. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Realty Masters & Associates. Licensed in the State of California, USA.
    www.mckeeregroup.com/homes/111939720
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    2942 W 12th Street Los Angeles (City), CA 90006

    • Price: $1,495,000
    • Status: Active
    • Updated: 17 min ago
    • ID#: RS20238482
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    5,020
    SQFT
    $298
    $/SQFT
    1905
    Built
    Neighborhood:
    KREA - Koreatown
    County:
    Los Angeles
    Area:
    KREA - Koreatown
    Property Description
    INCREDIBLE opportunity for an owner occupant or developer. Massive 5,020 square foot triplex on a prime corner lot in Koreatown. The property is comprised of (1) large stand-alone two-story 5BD/2BA house (delivered vacant), (1) 3BD/1BA and (1) 4BD/2BA occupied by long term tenants on month to month leases. The 5BD/2BA house has modestly updated bathrooms and kitchen, washer/dryer and many charming original details. In addition, a previous inspection reported mainly copper plumbing throughout the property. This is an rare opportunity to purchase a value add Triplex in the heart of Los Angeles with over 50% upside in rents and future development potential. The property is zoned R-3 (medium density residential) and is located in a Tier 2 TOC density bonus area.
    Exterior Features

    Garage Spaces 1.00 Lot Features Corner LotLevel Lot Size Source Assessor Lot Size Units Square Feet Parking Total 1.00 Pool Features None Pool Private YN No Property Attached YN No Roof CompositionFlatShingle Spa Features None Spa YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Cooling None Cooling YN No Flooring LaminateTileWood Interior Features Built-In FeaturesCathedral Ceiling(S) Laundry Features Inside Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features CurbsSidewalksStreet LightsUrban Country Us Elevation Units Feet Gardener Expense 1200.00 Gross Income 87144.00 Gross Operating Income 84530.00 Gross Scheduled Income 87144.00 Insurance Expense 2196.00 Land Lease YN No Laundry YN Yes Licenses Expense 500.00 Maintenance Expense 2250.00 Net Operating Income 54431.00 New Construction YN No New Taxes Expense 18174.00 Number Of Separate Electric Meters 3 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 1 Number Of Units Leased 2 Operating Expense 30099.00 Pest Control Expense 600.00 Property Sub Type Triplex Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGasTrash Collection Total Actual Rent 2762.00 Total Expenses 30099.00 Trash Expense 0.00 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Vacancy Allowance 2614 Water Sewer Expense 4800.00 Water Source Public Year Built Source Assessor Zoning Lar3

    Listing provided courtesy of Andrew Mcallister of Nationwide Real Estate Execs


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-13T22:27:10.603. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Realty Masters & Associates. Licensed in the State of California, USA.
     
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