19
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$2,395,000
Est. payment /mo
3 Beds
6 Baths
3,151 SqFt
Price Dropped by $55K
1259 Devon AVE Los Angeles, CA 90024
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,151 sqft
Price per Sqft $760
MLS Listing ID 25541757
Bedrooms 3
HOA Y/N No
Year Built 1939
Lot Size 5,401 Sqft
Property Description
1259 Devon Ave is a fully renovated 6-unit investment property located just south of Wilshire Blvd in one of West Los Angeles' most desirable neighborhoods. Surrounded by multi-million dollar homes and positioned near the prestigious Wilshire Corridor, this turnkey asset offers an impressive 5.36% going-in cap rate rare for such a prime location. The property features five extensively renovated units, each with brand new kitchens and bathrooms, modern finishes, in-unit washer/dryers, and central A/C and heat. These upgrades enhance tenant appeal and reduce future maintenance costs. Additionally, two brand-new, fully permitted detached ADUs have been added (NOT subject to Rent Stabilization Ordinance), significantly increasing the income potential and long-term value of the asset. Tenants enjoy condo-quality living in a highly walkable neighborhood near Beverly Hills, Century City, and UCLA. With high demand and limited rental inventory in the area, 1259 Devon Ave presents a rare opportunity to acquire a stabilized, high-yield asset with strong fundamentals. Whether you're looking for steady cash flow, long-term appreciation, or a strategic foothold in a blue-chip location, this property checks every box. It's ideal for both new and experienced investors seeking a low-maintenance building in one of Los Angeles' strongest rental submarkets.
Location
State CA
County Los Angeles
Area C05 - Westwood - Century City
Zoning LARD1.5
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Features None
Building
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 4327012025
Special Listing Condition Standard
Listed by Michael Sterman Marcus & Millichap
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