CA > Los Angeles
Los Angeles, CA 90024,1259 Devon Ave
Los Angeles, CA 90024,1259 Devon Ave
Los Angeles, CA 90024,1259 Devon Ave
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Kirshner Elkin Properties

Kirshner Elkin Properties

+1(424) 214-0133
$2,450,000
Est. payment /mo
3 Beds
6 Baths
3,151 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,151 sqft

Price per Sqft $777

MLS Listing ID 25541757

Bedrooms 3

Year Built 1939

Lot Size 5,402 Sqft

Acres 0.124

Property Sub-Type Multi-Family

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 5.22% 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 Westwood - Century City

Zoning LARD1.5

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Wall Unit(s)

Equipment Other

Exterior

Parking Features None

Building

Level or Stories One

Others

Special Listing Condition Standard

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TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap

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Kirshner Elkin Properties

+1(424) 214-0133

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