Homes for sale - 1259 Devon, Los Angeles, CA 90024

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Sharlotte Blake

sharlotteblake@me.com +1(323) 219-1101

$2,395,000

Est. payment - /mo

5,401 Sqft Lot

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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

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Listed by Jordan Wang Keller Williams Realty Irvine 9495508885

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Sharlotte Blake

+1(323) 219-1101

Broker Associate | License ID: 02035876

Broker Associate License ID: 02035876

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Los Angeles, CA

1259 Devon Los Angeles, CA 90024

Sharlotte Blake

Key Details

Location

Interior

Exterior

Building

Others

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1259 Devon