Eastwind Apartments

The LAAA Team at Marcus & Millichap is proud to present Eastwind Apartments, a rare architectural six-unit beach-front offering located in the heart of Marina del Rey, California, on the highly coveted Marina Peninsula, one of the most supply-constrained and sought-after coastal rental submarkets in Los Angeles. Designed by renowned Los Angeles architect Ellis Gelman, Eastwind showcases a timeless contemporary aesthetic that sets it apart from typical coastal multifamily inventory, sitting just steps from the sand on what is widely regarded as the most private and pristine stretch of beach in Los Angeles. Set within a unique beach community, the property is within walking distance of restaurants and shops, the Marina del Rey boat harbor, the Venice Fishing Pier, and the iconic Venice Canals. This is a generational opportunity to acquire a true pride-of-ownership coastal asset that simply cannot be replicated in today’s market.

Built in 1964 and improved through an extensive capital-improvement program, Eastwind is comprised of six spacious 2 bed / 1 bath units averaging 925 square feet each, configured as two ground-level residences with extraordinarily large private patios offering direct, private access to the beach walk, and four upstairs residences each with its own large private roof terrace. All units have bright, open floor plans framed by floor-to-ceiling, wall-to-wall glass and appointed with modern European-style kitchens featuring stainless steel appliances and quartz countertops, along with wood flooring throughout. The property also benefits from a completed soft-story seismic retrofit, gated entry, one private parking space per unit, and in-unit laundry in four of the six units, with laundry being added to the remaining two on move-out. Eastwind is delivered in excellent condition.

Eastwind’s location is what makes it truly irreplaceable. Residents enjoy a quiet, intimate beach-community setting within walking distance of the Marina del Rey boat harbor, the Venice Fishing Pier, the iconic Venice Canals, and the restaurants and shops of Washington Boulevard and Abbot Kinney. For investors, the offering pairs a Gelman architectural pedigree and rare beach-walk frontage with a clear path to additional upside: continued mark-to-market on unit turnover and the lease-up of recently renovated units. Positioned on the Marina Peninsula in one of Southern California’s most rent-stable coastal submarkets, Eastwind offers sustained tenant demand, durable long-term value, and a quality of asset that properties on this beach simply do not bring to market.

Marina del Rey & the Marina Peninsula

Eastwind Apartments occupies one of the most coveted pieces of coastal Los Angeles real estate: the Marina Peninsula in Marina del Rey, a narrow strip of beachfront residential community wedged between the open Pacific Ocean and North America’s largest man-made small-craft harbor. Marina del Rey is renowned as a premier destination for waterfront living and recreation, home to more than 5,000 boats and a vibrant collection of resort-style hotels, dockside dining, and outdoor recreation that includes sailing, kayaking, paddleboarding, and dining cruises. Located just four miles north of LAX and approximately twelve miles from downtown Los Angeles, the area pairs small-town coastal charm with immediate access to one of the nation’s largest metropolitan economies. Land-based amenities include the 22-mile Marvin Braude Coastal Bike Trail, Burton Chace Park (a 10-acre harborfront park hosting free summer concerts), Mother’s Beach, Fisherman’s Village, and the Villa Marina and Waterside shopping and dining centers.

The Marina Peninsula itself is defined by quiet, low-traffic walk streets, a powerful sense of neighborhood, and an architectural fabric dominated by single-family homes, small luxury condominiums, and a tightly held inventory of intimately scaled apartment buildings. Inventory turnover is exceptionally low; the combination of geographic constraint, restrictive zoning, and pride-of-ownership stewardship has made the Peninsula a true rarity among Westside rental submarkets.

Adjacent Venice

Immediately to the north, the Marina Peninsula flows into the iconic neighborhood of Venice. Founded in 1905 by Abbot Kinney as a coastal resort town and annexed by Los Angeles in 1926, Venice is one of the most culturally distinctive and economically vital neighborhoods in the Los Angeles metro. Known for its bohemian spirit, its world-famous Ocean Front Walk, its iconic canals, and its modernist residential architecture, Venice draws an estimated 28,000 to 30,000 visitors daily and more than ten million annually, a tourism engine that supports a deep, year-round demand base within walking distance of Eastwind. Abbot Kinney Boulevard, ranked among the most influential retail streets in the country, anchors the area’s upscale lifestyle layer with stylish boutiques, artisanal coffee shops, and destination dining, while the Venice Canals, the Venice Fishing Pier, Muscle Beach, and the Venice Beach Recreation Center round out a recreational footprint few residential submarkets can match.

The closest pricing anchor is 315 Vernon Avenue in Venice, a 6-unit property that closed for $5,050,000 on May 2, 2025 at a 5.04% cap rate and 13.89 GRM — identical unit count, comparable submarket, and a nearly identical $/SF profile ($1,046 vs. subject $958). Both 315 Vernon and 3607 Pacific occupy the premium tier of small-balance coastal multifamily inventory.

101 Catamaran Street sold for $3,000,000 in April 2025 at a 5.71% cap rate — a same-vintage (1964), same-unit-count Marina Del Rey property providing a direct comparability anchor on building characteristics. The subject’s superior renovation status, soft-story retrofit completion, and architectural pedigree support the pricing premium reflected in the offering.

The surrounding Venice and Marina Peninsula transactions confirm a market range of $338 to $1,108 per square foot, with cap rates predominantly in the 4.4% to 5.7% range. At $957.58/SF and a 4.75% cap rate (5.60% pro forma), the subject is positioned within the premium-tier coastal anchor range supported by the most directly comparable transactions.