1231 Devon AVE Los Angeles, CA 90024
UPDATED:
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26121365
HOA Y/N No
Year Built 1947
Lot Size 5,161 Sqft
Property Sub-Type Triplex
Property Description
The owner priced it to sell quickly. An identical building recently sold for approximately $300,000 more and generated less income.
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.
Location
State CA
County Los Angeles
Area C05 - Westwood - Century City
Zoning LARD1.5
Interior
Cooling See Remarks
Fireplaces Type See Remarks
Fireplace Yes
Appliance Gas Cooktop, Gas Oven, Gas Range
Laundry See Remarks
Exterior
Parking Features Garage, Garage Faces Rear
Garage Spaces 3.0
Garage Description 3.0
Pool None
Community Features Biking, Golf, Hiking, Park, Suburban
View Y/N Yes
Total Parking Spaces 3
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4327012001
Acceptable Financing Cash, Cash to New Loan, Conventional, Cal Vet Loan, 1031 Exchange, FHA, VA Loan
Listing Terms Cash, Cash to New Loan, Conventional, Cal Vet Loan, 1031 Exchange, FHA, VA Loan
Special Listing Condition Standard
Lease Land No
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