Located in the prestigious Comstock Hills enclave of Westwood, 1301 Devon Avenue offers a rare opportunity to acquire a multifamily asset in one of West Los Angeles' most stable and sought-after neighborhoods. Surrounded by multi-million-dollar single-family homes and tucked away on a quiet, tree-lined street, this six-unit apartment building blends… Read More timeless architectural charm with significant financial upside. Built in 1940, the building spans approximately 4,786 square feet on a 5,777 square foot lot and is zoned [Q]RD1.5-1XL TOC Tier 2. The unit mix consists of four large one-bedroom units with formal dining rooms and two studios, with one unit currently vacant offering immediate leasing potential or the opportunity for owner-occupancy. There are also three 2-car garages accessible from the alley creating the opportunity for ADU conversion. Importantly, the current rental income is well below market, presenting a substantial value-add opportunity: pro forma rents suggest the potential for a 66% increase in monthly income through strategic unit renovations and lease-ups. Less than a mile from UCLA, Westfield Century City, and The Los Angeles Country Club, and with easy access to the 405 freeway, the location is a long-term renter magnet. Just 1.5 miles from Holmby Park, 2 miles from Westwood Village, and a short 1.2-mile drive to the City of Beverly Hills, this prime spot offers unbeatable convenience and accessibility. Whether you're an investor targeting upside through repositioning or a buyer seeking a foothold in one of LA's most desirable zip codes, 1301 Devon Avenue delivers on both present-day performance and future potential. Read Less
Property listed by Maher Commercial Realty, Oron Maher 310-464-1453
Listing Snapshot
Days Online
41
Last Updated
Property Type
Other
Beds
4
Square Ft.
4,786
Lot Size
0.13 Acres
Year Built
1940
MLS Number
25523143
30 Days Snapshot Of 90024
$2.77M
+36%
(avg) sold price
14
-48%
homes sold
82
+10%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1940, Building area total: 4,786, Levels: One, Living area: 4786, 1 story, 1 building
Garage
6 spaces
Income
Gross income: $168,008, Net operating income: $116,678
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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