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15 Reef Street, Marina Del Rey, California 90292, Marina Del Rey, 90292 - 5 bed, 6 bath

15 Reef Street, Marina Del Rey, California 90292 home-pic-0
ACTIVE$6,250,000
15 Reef Street, Marina Del Rey, California 90292
5Beds
6Baths
5,029Sqft
3,149Lot

Price Vs. Estimate

The estimated value ($5,967,068.89) is $282,931.11 (4%) lower than the list price ($6,250,000). This property may be overpriced.

Key pros and cons

Top Pros:
Prime Coastal Location & Access: Situated in the highly desirable Marina Peninsula, offering unparalleled direct access to both the beach and marina, a key selling point for luxury coastal living.
Top Cons:
Low Available Lot Utilization: The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 3149, living area = 5029.

Compared to the nearby listings

Price:$6.25M vs avg $2.94M (+$3,315,000)86%
Size:5,029 sqft vs avg 3,296.5 sqft86%
Price/sqft:$1.2K vs avg $1.1K64%

More Insights

Built in 1989 (36 years old).
Condition: This property was newly remodeled in Summer 2024, making it virtually new despite its original build year of 1989. The description highlights a 'chef's dream kitchen featuring custom cabinetry and integrated appliances' and 'spa-like bathrooms,' which are confirmed by the high-quality, modern finishes seen in the images. All components appear new, meeting current quality standards with no deferred maintenance and minimal physical depreciation, aligning perfectly with the 'excellent' criteria.
Year Built
1989
Close
-
List price
$6.25M
Original List price
$6.99M
Price/Sqft
$1,243
HOA
-
Days on market
-
Sold On
-
MLS number
25518057
Home ConditionExcellent
Features
Excellent View: Ocean
Deck
Spa
Patio
ViewOcean

About this home

Coastal Luxury Meets Tulum Tranquility. Welcome to the Marina Peninsula's most refined offering. A custom-designed beachside sanctuary newly remodeled in Summer 2024. This exquisite residence blends warmth, sophistication, and wellness effortlessly. An expansive permitted addition features a private elevator servicing all four levels, soaring ceilings, and over 1,300 additional square feet of outdoor space, including a stunning 1,000-square-foot rooftop deck complete with a spa and fireplace. Enjoy the 300-square-foot main-level lounge framed by oversized sliding glass walls, creating a seamless transition between indoor and outdoor living.The heart of the home boasts luminous, open-concept living spaces with rich natural wood accents and curated textures, anchored by a chef's dream kitchen featuring custom cabinetry and integrated appliances. Spa-like bathrooms provide a daily retreat, while the primary suite impresses with barrel-vaulted ceilings and breathtaking ocean views.The separate guest suite on the lower level includes a kitchenette, bathroom, and closetideal for visitors seeking privacy. Additional highlights include a rare subterranean 4-car garage. With unparalleled access to both the beach and marina, this property is a turnkey coastal escape that redefines luxury living.

Price History

Date
Event
Price
10/28/21
Sold
$3,050,000
02/19/21
Sold
$2,900,500
02/18/15
Sold
$3,839,500
06/28/02
Sold
$1,875,000
Condition Rating
Excellent
This property was newly remodeled in Summer 2024, making it virtually new despite its original build year of 1989. The description highlights a 'chef's dream kitchen featuring custom cabinetry and integrated appliances' and 'spa-like bathrooms,' which are confirmed by the high-quality, modern finishes seen in the images. All components appear new, meeting current quality standards with no deferred maintenance and minimal physical depreciation, aligning perfectly with the 'excellent' criteria.
Pros & Cons

Pros

Prime Coastal Location & Access: Situated in the highly desirable Marina Peninsula, offering unparalleled direct access to both the beach and marina, a key selling point for luxury coastal living.
Extensive Recent Remodel & Custom Design: Newly remodeled in Summer 2024 with a custom design and permitted addition, ensuring modern aesthetics, high-end finishes, and a turnkey luxury experience.
Luxury Amenities & Outdoor Living: Features include a private elevator servicing all four levels, a stunning 1,000 sqft rooftop deck with a spa and fireplace, and oversized sliding glass walls for seamless indoor-outdoor flow.
Rare Subterranean 4-Car Garage: A significant and highly sought-after amenity in a dense coastal area, providing ample and secure parking for multiple vehicles.
Versatile Guest Suite & Ocean Views: Includes a separate lower-level guest suite with a kitchenette, offering privacy and flexibility, complemented by breathtaking ocean views from the primary suite.

Cons

Low Available Lot Utilization: The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 3149, living area = 5029.
Price Adjustment History: The property has undergone a substantial price reduction from its original list price of $6.99M to $6.25M, which may indicate initial overvaluation or market resistance.
Above Estimated Value: The current list price of $6.25M is higher than the property's estimated value of $5.967M, potentially impacting buyer perception of value and negotiation leverage.
Modest Lot Size: Despite generous outdoor living spaces, the overall lot size of 3,149 sqft is relatively compact for a luxury residence of this square footage, limiting traditional ground-level yard space.

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