Active
$2,695,000
6 Units
4 Beds
6 Baths
4,786 Area(sq.ft.)
Lot: 5,777 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 1 | 1 | No | $ 2,357 | $ 2,357 | $ 3,500 |
| Unit 2 | 1 | 1 | 1 | No | $ 2,144 | $ 2,144 | $ 3,500 |
| Unit 3 | 1 | studio | 1 | No | $ 1,306 | $ 1,306 | $ 2,100 |
| Unit 4 | 1 | 1 | 1 | No | $ 2,678 | $ 2,678 | $ 3,500 |
| Unit 5 | 1 | studio | 1 | No | n/a | n/a | $ 1,950 |
| Unit 6 | 1 | 1 | 1 | No | $ 2,201 | $ 2,201 | $ 3,500 |
| 6 | 4 | 6 | $ 10,686 | $ 10,686 | $ 18,050 |
| MLS #: | 25523143 |
| Days On Market: | 240 |
| Listing Date: | April 9, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 563 |
| Price per unit: | $ 449,167 |
| Year Built: | 1940 |
Property Details
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.Interested in this Listing?
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Income Details
| Vacancy Rate: | 1% |
| Gross Operating Income: | $ 168,008 |
| Total Annual Expense: | $ 54,904 |
| Net Operating Income: | $ 113,184 |
| Gross Annual Income: | $ 168,008 |
| Cap Rate: | 6.6% |
| Gross Rent Multiplier: | 16.00 |
Structure
| Type of Units: | Studio/1Bed |
| Buildings: | 1 |
| Levels: | One |
Land & Parking
| Zoning: | [Q]RD1.5-1XL |
| Parking Garage: | Garage - 2 Car, Garage Is Detached |
Interior
| AC/Cooling: | Other |
| Equipment: | Refrigerator, Range/Oven |
| Heating: | Other |
Exterior
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