1231 Devon Avenue, Los Angeles, California 90024, Los Angeles, 90024 - 0 bed, 0 bath
Loading property details...
Los Angeles, California 90024
This High-Potential Investment Opportunity is a Triplex listed at $1,750,000, positioned well below the $1,743,824 Fair Market Value (Note: Market parity). This property offers a Condition Rating of 5, signaling a clear value-add path through modernization. The Corner Lot location adjacent to the Los Angeles Country Club provides significant ADU Development Potential, allowing for three additional units. With proximity to Top-Rated Schools like Fairburn Avenue Elementary, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a Westwood asset with substantial rental upside.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1231 Devon Avenue Subject | $1,750,000* List Price | 0 | 0 | 3,195 | $546 | - |
A 10366 Ashton Avenue Sold | $1,995,000 | 0 | 0 | 3,005 | $664 | 0.0 mi |
B 10372 Ashton Avenue Active | $1,950,000 List Price | 0 | 0 | 3,064 | $636 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1947 (77+ years old) and marketed specifically as a 'value-add' opportunity, indicating that kitchens and bathrooms likely require a full rehab to meet modern standards. The presence of window AC units suggests a lack of updated central HVAC systems, and the property's age and description align with the criteria for significant updating and potential structural/systemic obsolescence.
Elementary School: Fairburn Avenue Elementary School (9/10). High School: Beverly Hills High School (9/10).
Situated on a corner lot adjacent to the Los Angeles Country Club and minutes from UCLA, the property benefits from exceptional tenant demand and proximity to major employment hubs like Century City and Beverly Hills.
The property offers a rare opportunity to add three ADUs (two 1+1 units and one 2+2 unit), allowing an investor to double the unit count and substantially increase the gross rental income.
Constructed in 1947, the building may require significant capital expenditure for modernizing systems or structural repairs to maintain its competitiveness in a high-end rental market.
The identified ADU upside is subject to city approval and buyer verification, meaning the projected income growth is not guaranteed and requires additional investment and permitting time.
You will not find a better-priced three-unit property in West LA, and the location is impeccable, situated next to the Los Angeles Country Club on a corner lot. DO NOT MISS THIS DEAL. It will sell fast. The owner priced it to sell quickly. An identical building recently sold for approximately $300,000 more and generated less income. 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.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades K-5 • 0.5 mi
Grades K-5 • 1.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,195 | 3,100 | 50% |
| Lot Size | 5,160 | 4,972.5 | 50% |
| Price | $1.75M | $1.87M | 50% |
| Price per sq ft | $548 | $606 | 50% |
| Built year | 1947 | 1944 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 9 | 110 | 50% |
Jun 4, 2026
$1,750,000
Initial Listing
Mar 20, 2025
$4,600,000
Public Record