Real Estate with a Global Perspective

Josie Tong

Marina Del Rey Real Estate

Marina del Rey is a seaside community located between Los Angeles International Airport (LAX) and Santa Monica, population 8,200 according to U.S. Census 2008.  It’s within walking distance of Venice Beach, and is the largest man-made, small-boat harbor in the world with over 5,200 boat slips. Marina del Rey has is own three-mile long Marina Freeway -- California State Route 90 -- which links Marina del Rey directly to Interstate 405 and nearby Culver City (Wikipedia 2006). It’s the perfect location for people who commute and desire year-round California lifestyle beach living!

Marina del reyHousing opportunities in the Marina include high-rise luxury condominiums, apartments and single family homes most with private walkways overlooking the harbor and peaceful scenery.  For those searching for creative, less traditional spaces, there are hundreds of newly built upscale lofts and townhouses. Attractions to Marina Del Rey include harbor cruises, boat charters, the harborfront at Fisherman’s Village and the Ballona Wetlands, the largest remaining protected wetland in Los Angeles County. Residents can take the kids to Mother's Beach. There's also fully-equipped recreation parks, such as Admiralty Park with its own 18-station exercise facility and jogging path, and Burton W. Chase Park, which offers 10 acres of space for picnicking and in the summer, hosts free concerts.

As of June 2008 single family homes for sale in Marina del Rey range from a 3-bedroom, 3-bath home at $1,385,000 to a 4-bedroom, 6-bath home with ocean views located on the Silver Strand for $3,595,000. According to the Multiple Listing Services, the median price for a single family home sold in the first 6 months of 2008 was $2,145,000, and the most expensive home sale reported was $3,300,000.

Prices of condos on the market as of June 2008 range from $349,000 for a 1-bedroom, 1-bath apartment to $6,800,000 for a 4-bedroom, 4.5-bath beachfront condo on Ocean Front Walk. The most expensive condo sale reported first half 2008 is $2,500,000.

Residential leases range from $1,250 per month for a studio apartment to $24,500 per month for a four-level waterfront condo with 8 bedrooms and 10 bathrooms.

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Marina del Rey Market Conditions