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$ 2,395,000
Est. payment /mo
New
1259 Devon Los Angeles, CA 90024
5,401 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26006119
HOA Y/N No
Year Built 1939
Lot Size 5,401 Sqft
Property Sub-Type Mixed Use
Property Description
Welcome to 1259 Devon Ave 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 6.59% 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
Interior
Interior Features Atrium
Heating Central, Wall Furnace
Cooling Central Air
Fireplaces Type See Remarks
Fireplace Yes
Laundry See Remarks
Exterior
Parking Features None
Pool None
Community Features Park, Street Lights, Suburban
Private Pool No
Building
Lot Description Lawn
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4327012025
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Listed by Jordan Wang Keller Williams Realty Irvine 9495508885