1231 Devon Ave 3 Unit Apartment Building $2,462,250 CAD ($820,750 CAD/Unit) 3.11% Cap Rate Los Angeles, CA 90024

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.