1259 Devon Ave Los Angeles, CA 90024
Westwood NeighborhoodEstimated payment $14,461/month
Highlights
- Atrium Room
- Lawn
- Park
- Fairburn Avenue Elementary School Rated A
- Fireplace
- Laundry Room
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.
Listing Agent
Keller Williams Realty Irvine Brokerage Phone: 9495508885 License #01993587 Listed on: 01/16/2026
Co-Listing Agent
Keller Williams Realty Irvine Brokerage Phone: 9495508885 License #02093178
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1939
Lot Details
- 5,402 Sq Ft Lot
- Two or More Common Walls
- Lawn
Home Design
- Property Attached
- Entry on the 1st floor
Interior Spaces
- 3,151 Sq Ft Home
- 1-Story Property
- Fireplace
- Atrium Room
- Laundry Room
Bedrooms and Bathrooms
- 7 Bedrooms
- 6 Bathrooms
Utilities
- Central Heating and Cooling System
- Wall Furnace
Additional Features
- Exterior Lighting
- Suburban Location
Listing and Financial Details
- Legal Lot and Block 27 / 16
- Tax Tract Number 6193
- Assessor Parcel Number 4327012025
- $469 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 6 Units
Recreation
- Park
Building Details
- 6 Leased Units
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Operating Expense $51,085
- Gross Income $185,015
- Net Operating Income $185,015
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $24,143 | $2,013,110 | $1,379,570 | $633,540 |
| 2024 | $24,143 | $1,973,638 | $1,352,520 | $621,118 |
| 2023 | $23,677 | $1,934,940 | $1,326,000 | $608,940 |
| 2022 | $16,535 | $1,378,549 | $1,044,358 | $334,191 |
| 2021 | $16,330 | $1,351,520 | $1,023,881 | $327,639 |
| 2019 | $15,844 | $1,311,435 | $993,513 | $317,922 |
| 2018 | $15,739 | $1,285,722 | $974,033 | $311,689 |
| 2016 | $15,055 | $1,235,798 | $936,211 | $299,587 |
| 2015 | $14,835 | $1,217,236 | $922,149 | $295,087 |
| 2014 | $14,901 | $1,193,393 | $904,086 | $289,307 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 01/16/2026 01/16/26 | For Sale | $2,395,000 | 0.0% | $760 / Sq Ft | |
| 03/05/2025 03/05/25 | Off Market | $2,245 | -- | -- | |
| 01/23/2025 01/23/25 | For Rent | $2,245 | 0.0% | -- | |
| 04/19/2024 04/19/24 | Price Changed | $2,245 | -3.4% | $6 / Sq Ft | |
| 02/14/2024 02/14/24 | Price Changed | $2,325 | +3.6% | $6 / Sq Ft | |
| 02/13/2024 02/13/24 | For Rent | $2,245 | 0.0% | -- | |
| 02/13/2013 02/13/13 | Sold | $1,188,100 | -6.8% | $495 / Sq Ft | View Prior Sale |
| 11/12/2012 11/12/12 | Pending | -- | -- | -- | |
| 10/12/2012 10/12/12 | For Sale | $1,275,000 | -- | $531 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $1,897,000 | Chicago Title | |
| Interfamily Deed Transfer | -- | None Available | |
| Grant Deed | -- | Fidelity National Title Co | |
| Grant Deed | -- | Provident Title | |
| Grant Deed | $433,000 | -- | |
| Interfamily Deed Transfer | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $801,950 | New Conventional | |
| Previous Owner | $145,000 | No Value Available | |
| Closed | $0 | Purchase Money Mortgage |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW26006119
APN: 4327-012-025
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Based on information from California Regional Multiple Listing Service, Inc. 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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