1231 Devon Ave - Apartments FOR SALE


Los Angeles, CA 90024- Westwood
$1,750,000 USD
310-259-7556
1231 Devon Ave, Los Angeles, CA for Sale
$1,750,000 USD
Apartments - FOR SALE
1/8
null | 3.11% Cap Rate

1231 Devon Ave
Los Angeles, CA 90024
Westwood


HIGHLIGHTS

  • LOWEST PRICE PER FOOT ON MARKET!!
  • Move-In Ready — Spacious, updated units with washer/dryer hookups in larger 2-bed layouts with 3 Car Garage
  • Prime Westwood Location — Short distance to UCLA, Century City, and upscale Westwood Village amenities.
  • Low-Maintenance — Clean and well-cared for with minimal deferred maintenance.
  • Strong ADU Potential — Three detached one-car garages via rear alley, ideal for conversion to boost value and income.

OVERVIEW

Positioned in the heart of Westwood, 1231 Devon Ave presents a rare opportunity to acquire a premier Westside asset with immediate cash flow and substantial value-add potential. The property consists of three spacious units totaling 3,195 SF, with an attractive unit mix of two 2-bedroom units and one 1-bedroom unit. The real story here is the ADU upside. Ownership has identified the potential to add three additional units consisting of two 1+1 ADUs and one 2+2 ADU (buyer to verify), creating a unique opportunity to significantly increase rental income and overall property value in one of the most desirable rental markets in Los Angeles. Just minutes from UCLA, this property is also an ideal opportunity for parents with a son or daughter attending the university. Why pay rent when you can own a cash-flowing Westwood triplex, provide housing for your student, and benefit from one of the strongest rental markets in Southern California? Located near UCLA, Century City, Beverly Hills, and Westwood Village, the property benefits from exceptional tenant demand and long-term appreciation potential. Whether you’re looking for stable income today or a value-add opportunity with substantial upside through future ADU development, 1231 Devon Ave offers both. Opportunities to acquire a corner-lot Westwood property with this combination of location, income, and ADU potential are exceptionally rare.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$548 USD /SF

# OF UNITS

3

PRICE/UNIT

$583,333

CAP RATE

3.11%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1947

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,160 SF

ZONING

LARD1.5

APN/PARCEL ID

4327-012-001

ASK ABOUT THIS PROPERTY

Cameron SamimiLyon Stahl Investment Real EstateMore Info
310-259-7556

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Cameron SamimiLyon Stahl Investment Real EstateMore Info
310-259-7556

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.