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.
Property Details
Price:
$2,395,000
MLS #:
25541757
Status:
Active
Baths:
0
Address:
1259 Devon Avenue
Type:
Residential Income
Neighborhood:
c05westwoodcenturycity
City:
Los Angeles
Listed Date:
May 21, 2025
State:
CA
ZIP:
90024
Lot Size:
5,402 sqft / 0.12 acres (approx)
Year Built:
1939
Schools
Interior
Heating
Wall Furnace
Exterior
Parking Features
None
Parking Spots
0.00
Financial
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1259 Devon Avenue
Los Angeles, CA
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