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    2942 W 12th Street

    Los Angeles (City), CA 90006
    • $1,395,000
    • STATUS: Active
    • ON SITE: 152 days
    • ID#: RS20238482
    Price Reduced
    UPDATED: 59 min ago
    $1,395,000
    • 0
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,020
      SQFT
    • $278
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1905
    County:

    School Ratings & Info

    Description

    $100K Price Reduction - 7.26% Pro Forma Cap Rate! 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 2021-04-18T19:25:54.643. 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 Zember Realty Group. Licensed in the State of California, USA.
    www.zemberrealtygroup.com/homes/111939720
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    2942 W 12th Street Los Angeles (City), CA 90006

    • Price: $1,395,000
    • Status: Active
    • Updated: 59 min ago
    • ID#: RS20238482
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    5,020
    SQFT
    $278
    $/SQFT
    1905
    Built
    Neighborhood:
    KREA - Koreatown
    County:
    Los Angeles
    Area:
    KREA - Koreatown
    Property Description
    $100K Price Reduction - 7.26% Pro Forma Cap Rate! 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

    Lot Features Corner LotLevel Number Of Separate Electric Meters 3 Parking Total 1 Pool Features None Pool Private YN No Property Attached YN No Roof CompositionFlatShingle Spa Features None Spa YN No

    Interior Features

    Common Walls No Common Walls Cooling None Cooling YN No Flooring LaminateTileWood Interior Features Built-In FeaturesCathedral Ceiling(S)

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Common Interest None Community Features CurbsStreet LightsSidewalksUrban Garage YN Yes Gross Income 87144 Gross Scheduled Income 87144 Insurance Expense 2196 Land Lease YN No Laundry Features Inside Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanConventional1031 ExchangeFha Maintenance Expense 2250 Net Operating Income 55631 New Construction YN No New Taxes Expense 17353 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 1 Number Of Units Leased 2 Operating Expense 28899 Pest Control Expense 600 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 Trash Expense 0 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Vacancy Allowance 2614 Water Sewer Expense 4800 Water Source Public 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 2021-04-18T19:25:54.643. 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 Zember Realty Group. Licensed in the State of California, USA.
     
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    San Marcos CA, 92078