Buying a Condo in Marina del Rey: Leasehold vs. Fee-Simple Explained
Before you buy a condo in Marina del Rey, understand this one thing: much of the land is owned by the County of Los Angeles, so many units are sold as leasehold rather than fee-simple. With fee-simple, you own the home and the land under it outright. With leasehold, you own the unit but the land sits under a long-term ground lease with the County, and you pay a land-lease cost, usually folded into your dues. Leasehold units cost less upfront, but the remaining lease term affects financing, resale, and long-term value.
Marina del Rey is one of the best waterfront values on the coast, but only if you go in informed. Here is what to know.
What does it cost to buy in Marina del Rey?
As of mid-2026, the median sale price is around $1.3 million, or about $619 per square foot, up roughly 8% year over year. It is overwhelmingly a condo market:
Condos: the heart of the market, from around the mid $500Ks for smaller units up into the multimillions for large waterfront and penthouse homes.
Single-family homes and townhomes: a much smaller segment in pockets like the Silver Strand and Marina Peninsula, generally well into the multimillions.
Leasehold vs. fee-simple: the key difference
This is the single most important thing to understand here:
Fee-simple means you own the home and the land under it outright, the same as most homes.
Leasehold means you own the unit but the land is on a long-term ground lease with the County, often running decades (some to 2067 and beyond). You pay a land-lease cost, usually included in your monthly dues.
Leasehold units are typically less expensive upfront, but the lease term matters. As the remaining years count down, it can affect your ability to finance, your resale pool, and long-term value. Neither is inherently better, but they are very different purchases. I always confirm a building's ownership structure and remaining lease term up front so you know exactly what you are buying.
The neighborhoods of Marina del Rey
Marina Peninsula: a quiet, coveted strip between the marina and the ocean, one of the more exclusive pockets.
Silver Strand: tranquil, tree-lined, with a mix of luxury homes and townhomes, including sought-after fee-simple properties.
Marina Pointe and the waterfront high-rises: full-service amenity towers along Palawan Way with some of the best water views.
Villa Marina: modern condo and townhome complexes that tend to be more accessible, popular with younger professionals and first-time buyers.
Who buys in Marina del Rey?
The lifestyle draws professionals, boaters, second-home buyers who want a lock-and-leave place near the coast, and investors drawn to strong rental demand. You are minutes from Venice, Playa del Rey, and Silicon Beach, with LAX just down the road. It is a relaxed, resort-like way to live in LA.
Marina del Rey FAQs
What is a land lease or leasehold in Marina del Rey? Because the County owns much of the land, many condos are leasehold: you own the unit, but the land is on a long-term ground lease and you pay a land-lease cost. Leasehold homes cost less upfront, but the remaining term affects financing, resale, and value. Fee-simple properties exist in certain pockets too. I confirm which one you are looking at and what it means.
How much do homes cost in Marina del Rey? The median is around $1.3M, or about $619 per square foot, up roughly 8% year over year. Condos range from the mid $500Ks into the multimillions.
Is Marina del Rey a good place to buy? For a waterfront, low-maintenance, lock-and-leave lifestyle or a rental investment, yes, as long as you understand the leasehold versus fee-simple question and the building's HOA and lease term.
Thinking about Marina del Rey? I will help you compare buildings, confirm the ownership structure, and buy with full confidence. Explore the full Marina del Rey guide or reach out for a private consultation.
Megan Majd, Compass · DRE #02089919 · (310) 845-6209