1259 Devon

Los Angeles, CA, 90024
For Sale $2,450,000
  • 3beds
  • 3,151sqft
  • 0.12acre
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.

Get in touch

Interested in this property or one like it? Reach out today to talk with advertising agent Shen Schulz.

Listed by:
Michael Sterman with Marcus & Millichap
(818) 212-2700
1259 Devon is a Residential Income property located in Los Angeles, California, featuring a 0.124 acre lot, 3,151 sqft, 3 bedrooms, MLS #25541757.

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Data last modified: 2025-07-11 22:21:26