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… Read More 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. Read Less
Courtesy of Marcus & Millichap 818-212-2700
Listing Snapshot
Days Online
92
Last Updated
Property Type
Other
Beds
3
Square Ft.
3,151
Lot Size
0.12 Acres
Year Built
1939
MLS Number
25541757
30 Days Snapshot Of 90024
$8.60M
+373%
(avg) sold price
19
+26%
homes sold
128
+93%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
3,151 sq ft, Built in 1939, Levels: One
Cooling
Wall Unit(s)
Disclosures
None
Garage
None
Heating
Wall
Lot
LotAcreage: 0.124, LotSizeArea: 5,402
Parking
TotalParking: 0
Property
NumberOfUnits: 6, Zoning: LARD1.5
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