1259 Devon AVE new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90024
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,151 sqft
Price per Sqft $793
MLS Listing ID 25541757
Bedrooms 3
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 5.11% 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 ADUs have been added, 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
Exterior
Parking Features None
Building
New Construction No
Others
Special Listing Condition Standard