19
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$2,500,000
Est. payment /mo
3,151 SqFt
New
1259 Devon Avenue Los Angeles, CA 90024
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,151 sqft
Price per Sqft $793
MLS Listing ID CL25541757
HOA Y/N No
Year Built 1939
Lot Size 5,402 Sqft
Acres 0.12
Property Sub-Type Other
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 5.11% 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 submar
Location
State CA
County Los Angeles
Zoning LARD
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 4327012025
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Michael Sterman • Marcus & Millichap