1301 Devon AVE Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90024
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,786 sqft
Price per Sqft $563
MLS Listing ID 25523143
Bedrooms 4
HOA Y/N No
Year Built 1940
Lot Size 5,776 Sqft
Property Description
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 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.
Location
State CA
County Los Angeles
Area C05 - Westwood - Century City
Zoning [Q]RD1.5-1XL
Interior
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Door-Multi,Garage
Garage Spaces 6.0
Garage Description 6.0
Attached Garage No
Total Parking Spaces 6
Building
Lot Description Corners Marked
Story 2
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 4327012017
Special Listing Condition Standard