Pages Menu
Categories Menu

Posted by on Apr 27, 2017 in Buyers, Real Estate Insights, Sellers, Venice Beach |

Venice Beach Becomes One of LA’s Top Real Estate Markets

Venice Beach Becomes One of LA’s Top Real Estate Markets

Venice has two of the hottest zip codes, 90291 and 90292, in Los Angeles area, far from its “Slum of the Sea” and muscle beach reputation many years ago. The whole area consists of oceanfront houses on the western part of Los Angeles. Venice is bordered by Santa Monica to the north, the Pacific Ocean to the west, Marina del Rey to the South, Palms-Mar Vista and Culver City to the east.

The real estate market industry in this area has already produced some of the head turner properties and still continues to evolve. This is evident in producing a juxtaposition of older California bungalow to more contemporary houses with exciting architecture built alongside taller and smaller properties.

 

 

The History

 

Looking back more than a century ago when Abbot Kinney, a tobacco mogul, decided to dig miles of canals from acres of marshy land he won from his former business partners. He envisions creating the “Venice of America” by building real estate empire and an oceanfront resort finally completed in 1905.

Looking back more than a century ago when Abbot Kinney, a tobacco mogul, decided to dig miles of canals from acres of marshy land he won from his former business partners. He envisions creating the “Venice of America” by building real estate empire and an oceanfront resort finally completed in 1905.

For quite some time, he achieved his dream for Venice became a wealthy, independent city. But not for long because when he died in 1920, things started to fall apart. The city was not able to cope up with the growing population and its status as an independent city was dissolved and was made part of Los Angeles in 1926.

 

 

Trending: Venice Beach

 

Those days were gone as today; Venice has emerged as one of the trendiest neighborhood in LA area. The Abbot Kenney shopping district is heralded as “the coolest block in America” by GQ Magazine. There are so many new building, roads and houses being built anywhere in the area.

It started when Google rented more than 100,000 feet of office in Venice in 2011. Snapchat followed later, rented 40,000 square feet of office space in Abbot Kinney, and now pays $25,000 monthly for rent in a penthouse in oceanfront, boasting with a 5,000 square foot sun deck and Jacuzzi.

The boom in technology paved way for the real estate business to thrive as well. Many real estate titans have built and continuously building homes and company headquarters in Venice. As more labor force is expecting to pour in, developers are making sure there are enough houses for everyone regardless of the size and budget.

The properties can be from affordable, single family room to posh and luxurious high rise and waterfront houses. The lucky ones who are able to buy the waterfront properties sure do enjoy the views.

Read More