Until the early 1950s, Marina del Rey remained an unimproved area consisting predominantly of marshland. Congress was contemplating constructing a commercial harbor in Marina del Rey but ultimately decided against it and chose to implement this plan in San Pedro, CA with completion in the mid 1960s.
Today, Marina del Rey is an affluent seaside community containing the world’s largest man-made small craft harbor with 19 marinas and a capacity for 5,300 boats. It currently serves as the home port for approximately 6,500 boats. The marina itself is comprised of high-rise full service condos, Beach side condos, large homes, hotels, apartments, shops, and restaurants. Notably, the Marina also has the University of Southern California Information Sciences Institute and the UCLA Marina Aquatic Center.
Marina del Rey is synonymous with beach living and is known for organizing an assortment of public neighborhood events, concerts and local activities as well as shops, restaurants, parks, and more. The city itself is made up of a few different neighborhoods creating an eclectic and diverse community. These neighborhoods include:
The Silver Strand is an area south of Washington Boulevard lying between the Ballona Lagoon and Via Marina and terminating at the Main Channel. It is described in a 1989 L.A. Times article as a sliver of land two blocks wide and 10 blocks long wedged between the Venice (Now Marina) Peninsula and Marina del Rey– that was quietly transformed from an oil field into an architecturally eclectic mix of multilevel million-dollar single-family homes and condos. Many of the homes are waterfront and face the Ballona Lagoon however the additional homes located on the interior of the Strand are separated by landscaped malls and have an even greater level of privacy. There is one remaining footbridge built by Abbot Kinney, the father of Venice, located at Lighthouse Mall that crosses the lagoon to connect the Strand with the Marina Peninsula and beach.
Historically, two factors combined to create the Silver Strand as we know it. The Marina del Rey Harbor in 1965 was the first addition which made a dramatic change in the local topography. The second, which happened almost simultaneously, was the dwindling supply of usable oil beneath its soil and thus the capping of the oil and gas wells. Developers and individuals began to take note of the potential for residential development on the narrow spit of land we now call the Silver Strand. The first large development was a string of condominiums called the Strand Colony I and II built in 1974.
Today, the mix of homes in this area range in price from $1,649,000 to $5,999,000, with the highest recent sale being a four-story single family home on a landscaped mall for $3,750,000 in late early.
Located across the Ballona Lagoon from the Silver Strand, the Marina Peninsula is a long strip of land with a mixture of condominiums and single family homes with a few businesses thrown in here and there. These are the true beach residences; all of which are located within a quarter mile of the Pacific Ocean. This small area is known for its narrow streets with names like Quarterdeck and Northstar with a high density of fashionable oceanfront houses, condominiums and apartments. And although millions of tourists flock to Venice Beach each year, the Marina Peninsula’s beach is nearly deserted by comparison. Residents say the serenity found here is what makes the area desirable.
Similarly to the Silver Strand many of the buildings on the Peninsula were originally built in the mid 20th century and the architectural style of the area has reflected that time period. However, in recent years many of the condominium buildings are in the process of being rejuvenated, which is bringing a welcome new look to the area.
Home prices in the last year (2014) range from $2,130,000 to $5,495,000 for single family homes and $538,950 to $3,695,000 for condos.
Located a couple miles inland lies the secluded and quiet neighborhood known as The Golden Triangle with a nice mix of traditional homes. Hidden behind a row of businesses on Washington Boulevard and backing up to the Oxford Lagoon, The Golden Triangle is considered by many of its residents to be a hidden oasis. This highly desirable neighborhood is gaining notoriety among potential homebuyers as a great place to start a family with its quiet streets and cul-de-sacs.
Home prices in this area range from $975,000 to $2,400,000.
No real estate agents have more experience in Marina del Rey than those of the REinvestLA Team. From the Marina City Club, to the Marina Peninsula; from Villa Marina East to Marina Pointe; from the Marina Golden Triangle to the Marina Silver Strand, REinvestLA can assist you with all of your local Real Estate needs!