114 Reef Mall, Marina del Rey, CA 90292 – Transaction Details

Date: August 23, 2016
Property Type: 4 Bedroom, 2.25 Bathroom, 2,980 Square Foot Single Family Home
Purchase Price: $2,215,000.00
Year Built: 1984
Description: Represented international buyer in the acquisition of this beautiful home in the Silver Strand area of Marina del Rey.

1100 South Hope St. #604, Los Angeles, CA 90015 – Transaction Summary

This beautiful home on Reef Mall in the Silver Strand area of Marina del Rey, an area of large, luxury homes bordering the Venice canal, was originally listed at $2.4m. The property boasts a spacious 2,980 square feet, plus a spacious yard with a built-in grill, and a rooftop patio. The home was in excellent condition, having been completely remodeled and updated in 2012, including a new air conditioning unit, new tankless water heaters, and more. After determining that the property was overpriced at $2.4m, our client was patient and firm on his offer price, and as a result was able to negotiate a significant price reduction to $2.225m, about $175,000 below the original list price. A detailed inspection process led to the ability to further negotiate another price reduction of $10,000, making the purchase price just $2.215m. At that price, it is one of the cheapest homes on the Silver Strand in Marina del Rey, and shows significant promise for further appreciation.

Additional pictures from the property’s MLS listing are available here.

For more information on this transaction or to discuss any other questions you may have concerning the Los Angeles and Marina del Rey real estate markets, contact Esquire Real Estate Brokerage, Inc. at 213-973-9439 or info@esquirereb.com.

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