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1231 Devon Ave
Los Angeles, CA 90024
Multifamily Property For Sale
·
3 Units
Investment Highlights
- LOWEST PRICE PER FOOT ON MARKET!!
- Prime Westwood Location — Short distance to UCLA, Century City, and upscale Westwood Village amenities.
- Strong ADU Potential — Three detached one-car garages via rear alley, ideal for conversion to boost value and income.
- Move-In Ready — Spacious, updated units with washer/dryer hookups in larger 2-bed layouts with 3 Car Garage
- Low-Maintenance — Clean and well-cared for with minimal deferred maintenance.
Executive Summary
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.
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.
Property Facts
| Price Per Unit | $583,333 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 3.11% | Building Size | 3,064 SF |
| Gross Rent Multiplier | 20.64 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1947 |
| Property Subtype | Apartment | Parking Ratio | 0.98/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | LARD1.5 - Restricted Density Multiple | ||
| Price Per Unit | $583,333 |
| Sale Type | Investment |
| Cap Rate | 3.11% |
| Gross Rent Multiplier | 20.64 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 3,064 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1947 |
| Parking Ratio | 0.98/1,000 SF |
| Zoning | LARD1.5 - Restricted Density Multiple |
Amenities
Unit Amenities
- Washer/Dryer Hookup
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $2,370 | 1 |
| 2+1 | 2 | $2,347 | 1 |
Property Taxes
| Parcel Number | 4327-012-001 | Improvements Assessment | $52,190 |
| Land Assessment | $131,137 | Total Assessment | $183,327 |
Property Taxes
Parcel Number
4327-012-001
Land Assessment
$131,137
Improvements Assessment
$52,190
Total Assessment
$183,327
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