It is a great place to visit for those who are interested in Asian (and especially Chinese) culture, traditions and cuisine. You should definitely consider visiting it during all the culture-oriented events (e.g. the Chinese New Year celebrations).
Beware though that many shops here sell various cheap, kitschy and low-quality souvenirs. It's, however, a great place to head if you want to have a delicious meal for a good price or want to buy some groceries and ingredients necessary for Chinese dishes.
If you're in the neighborhood, come see the bronze statue of Bruce Lee.
Official Website http://chinatownla.com/wp1/
Address Los Angeles
Coordinates 34°3'41.875" N -118°14'25.875" E