1259 Devon, Los Angeles, California 90024, Los Angeles, 90024 - bed, bath
ACTIVE$2,395,000$3,151/sqft
1259 Devon, Los Angeles, California 90024
0Bed
0Bath
3,151Sqft
5,402Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Great Schools: Elementary School: Fairburn Avenue Elementary School (9/10). High School: Beverly Hills High School (9/10).
Top Cons:
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 3151, other record living area = 2399.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1939 (87 years old).
Condition: The property features 6 extensively renovated units, each with brand new kitchens and bathrooms, modern finishes, in-unit washer/dryers, and central A/C and heat. The images confirm these are virtually new, with white shaker cabinets, subway tile backsplashes, stainless steel appliances, modern black fixtures, light wood-look flooring, and recessed lighting. While the building was constructed in 1939, the recent and comprehensive renovation of all living spaces brings their condition to an excellent standard, meeting current quality and style expectations.
Year Built
1939
Close
-
List price
$2.4M
Original List price
$2.4M
Price/Sqft
$760
HOA
-
Days on market
-
Sold On
-
MLS number
PW26006119
Home ConditionExcellent
Features
Patio
View-
About this home
Welcome to 1259 Devon Ave 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 6.5% cap rate rare for such a prime location. The property features 6 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. 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 market.
J
Jordan Wang
Listing Agent
Nearby schools
9/10
Fairburn Avenue Elementary School
Public,•K-5•0.5mi
9/10
Warner Avenue Elementary School
Public,•K-5•0.5mi
7/10
Nora Sterry Elementary School
Public,•K-5•1.9mi
5/10
Brentwood Science School
Public,•K-5•3.0mi
8/10
El Rodeo Elementary School
Public,•K-8•0.7mi
3/10
Daniel Webster Middle School
Public,•6-8•2.5mi
9/10
Beverly Hills High School
Public,•9-12•1.0mi
6/10
University Senior High School Charter
Public,•9-12•2.4mi
6/10
University Senior High School
Public,•9-12•2.4mi
Price History
Date
Event
Price
06/04/97
Sold
$433,000
06/22/22
Sold
$1,897,000
Condition Rating
Excellent
The property features 6 extensively renovated units, each with brand new kitchens and bathrooms, modern finishes, in-unit washer/dryers, and central A/C and heat. The images confirm these are virtually new, with white shaker cabinets, subway tile backsplashes, stainless steel appliances, modern black fixtures, light wood-look flooring, and recessed lighting. While the building was constructed in 1939, the recent and comprehensive renovation of all living spaces brings their condition to an excellent standard, meeting current quality and style expectations.
Pros & Cons
Pros
Great Schools: Elementary School: Fairburn Avenue Elementary School (9/10). High School: Beverly Hills High School (9/10).
Prime Location & Desirability: Situated in one of West Los Angeles' most desirable neighborhoods, surrounded by multi-million dollar homes, near the prestigious Wilshire Corridor, and highly walkable to Beverly Hills, Century City, and UCLA, ensuring strong tenant demand.
High Cap Rate & Investment Potential: Offers an impressive 6.5% cap rate, which is rare for such a prime location, presenting a high-yield, stabilized asset with strong fundamentals for long-term appreciation and steady cash flow.
Extensively Renovated Units: All 6 units have been extensively renovated with brand new kitchens, bathrooms, modern finishes, in-unit washer/dryers, and central A/C and heat, providing condo-quality living.
Turnkey & Low Maintenance: Described as a turnkey asset with recent upgrades designed to enhance tenant appeal and reduce future maintenance costs, making it ideal for both new and experienced investors seeking a low-maintenance building.
Strong Rental Market: Located in one of Los Angeles' strongest rental markets, characterized by high demand and limited rental inventory, which supports consistent occupancy and rental growth.
Cons
MLS Listing Discrepancy: Living area discrepancy between mls listing and other public or private record. mls listing living area = 3151, other record living area = 2399.
Age of Building: Built in 1939, the property's age, despite extensive renovations, may still present potential for unforeseen structural or systemic issues not covered by unit-specific upgrades.
Rent Control & Tenant Laws: As an older multi-unit property in Los Angeles, it is likely subject to stringent rent control and tenant protection laws, which can limit rental income growth and increase management complexities.
Unspecified Parking Availability: The description does not explicitly mention dedicated parking for all 6 units, which can be a significant drawback and tenant concern in a dense urban area like West Los Angeles.