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$2,695,000
Est. payment /mo
4,786 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,786 sqft
Price per Sqft $563
MLS Listing ID CL25523143
HOA Y/N No
Year Built 1940
Lot Size 5,777 Sqft
Acres 0.13
Property Sub-Type Other
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 mile
Location
State CA
County Los Angeles
Zoning [Q]R
Interior
Fireplace No
Building
Lot Description Other
New Construction No
Others
Tax ID 4327012017
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Listed by Oron Maher • Maher Commercial Realty