2942 W 12th, Los Angeles, California 90006, Los Angeles, 90006 - 0 bed, 0 bath
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Los Angeles, California 90006
This Value-Add Triplex Asset represents a High-Potential Investment Opportunity with a List Price of $1,150,000—positioned well below the $1,295,740 Fair Market Value by 11%. This valuation gap provides $145,740 in Instant Equity. Featuring a vacant, updated 5-bedroom Craftsman house and a rear duplex, the property offers a 50% rental upside with a projected $131,400 pro forma income. With LAR3 Zoning, Tier 2 TOC eligibility, and proximity to Hobart Boulevard Elementary, this Condition 3 property is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield house hack.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2942 W 12th Subject | $1,150,000* List Price | 0 | 0 | 5,020 | $258 | - |
A 1500 S Hobart Active | $974,000 List Price | 0 | 0 | 3,596 | $271 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1905, the interior of the vacant unit shows significant updates including a modern kitchen with stainless steel appliances, granite countertops, and subway tile backsplashes. The flooring has been updated to a contemporary wood-look laminate, and the living areas feature well-maintained built-ins and fresh paint, making it move-in ready despite being marketed as a value-add investment.
The property offers over 50% upside in rents with the front 5-bedroom house delivered vacant, allowing for immediate market-rate leasing and a clear path to a projected $131,400 pro forma gross income.
Situated on an LAR3 lot with Tier 2 TOC eligibility, the property provides long-term redevelopment and density bonus opportunities in a high-demand, transit-oriented rental market.
The central location offers excellent proximity to Downtown LA, Metro access, and major employment hubs, ensuring consistently high tenant demand and long-term asset appreciation.
Built in 1905, this 'value-add' property likely requires significant capital expenditure for repairs, modernization, and structural updates to achieve its full market potential.
With two units currently occupied at significantly below-market rents, the investor may face challenges and delays in realizing full pro forma returns due to Los Angeles rent stabilization ordinances.
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
No exterior & parking available.
Grades K-5 • 0.0 mi
Grades K-5 • 0.3 mi
Grades K-2 • 0.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 5,020 | 1,900 | 80% |
| Lot Size | 5,919 | 5,100 | 60% |
| Price | $1.15M | $840.0K | 80% |
| Price per sq ft | $229 | $429 | 20% |
| Built year | 1905 | 1922 | 40% |
| HOA | $0 | $0 | 50% |
| Days on market | 7 | 203 | 20% |
Apr 15, 2026
$1,150,000
Initial Listing
Jan 12, 2018
$1,298,000
Public Record
Sep 2, 2015
$875,000
Public Record
Oct 1, 2002
$347,000
Public Record