4314 MARINA CITY Drive 816 Marina Del Rey, California
3 Beds 2 Baths 1,722 SqFt
4314 MARINA CITY Drive 1020 CTS Marina Del Rey, California
2 Beds 2 Baths 1,422 SqFt
4335 MARINA CITY 846 Marina Del Rey, California
3 Beds 2 Baths 1,722 SqFt 0.043 Acres
4337 MARINA CITY Drive 1139 Marina Del Rey, California
2 Beds 2 Baths 1,422 SqFt 0.033 Acres
4335 MARINA CITY 436 Marina Del Rey, California
1 Beds 1 Baths 0.024 Acres
Marina City Club offers resort-style living. Residents love all the onsite amenities. You will feel like you never have to leave!
Marina City Club is located in the Marina of Marina Del Rey- the largest man-made marina in the US and home to over 6,000 boats and yachts- this three tower, 600 unit highrise condominium has great views, and is close to the ocean.
Marina City Club was built between 1970 and 1978. The land it is built on is owned by the county. It was originally operated as an apartment building and then converted into condos in 1986. By J. H. Synder Co. who purchased the property from MDP Ltd, a subsidiary of Hughes Aircraft. In 1992 Synder Co. filed for bankruptcy protection after defaulting on their $24,000,000 loan from Aetna Insurance. After a restructured settlement the complex later sold out.
The complex is spread over a 37 acre site and dominates the Marina Del Rey skyline. Designed by Warren Overpeck in a contemporary style, the three towers are shaped like rings, and divided in half with north and south curves. The North Curves have Odd Number units, and The South Curves have even number units. The towers are named West Tower (4265 Marina City Drive), Center Tower (4316 Marina City Drive), and East Tower (4335 Marina City Drive). The Main Entrance Gate to the complex’s address is 4333 Marina City Drive.
The first four stories of the towers are above ground parking structures. The curves of each tower are 12 stories high and stacked atop the parking garage. So #100 units are actually five stories above ground, and the penthouse units on the 12th floor are actually 16 stories above ground.
Units are studios, one, two and three bedroom. Studios are 500 sqft. One bedrooms are 900-1,000sqft, and 2bredrooms are 1,200-1,500 sqft. Penthouse 3 bedroom units are two stories and are over 3,400 sqft.
This complex is very secure. There is 24 hour security and controlled access at the main gate, guests must register and get a parking pass to enter. There are a dozen guest parking spaces for visitors.
Amenities are: six lighted tennis courts, three year round heated pools (adult, family, and lap), three racquetball courts, recreation center, 3,000 sqft fitness centerwith personal trainers and fitness classes (including yoga), dog park, on site restaurant, car wash, salon, and convenience store. There is a year round schedule of tournaments and events at the tennis courts and yacht club.
The property has a 60-year ground lease that began in 1968 and was scheduled to expire in 2028. The county approved a 39-year extension to the ground lease that now expires 2067. That means there are 56 years remaining on the ground lease plus potential extensions.
Marina City Club units are officially called ‘condominiums’ but because the county owns the land- it is slightly different than with most condominiums. What you are actually buying is a “long-term, prepaid sublease”. Basically you are buying the right to possession for the length of the ground lease. As an owner you can sell your condo to another party, but you do not actually own the land, apartment or common areas as a normal condominium owner would. Prices for these units tend to be similar to other condos in the area, because except for the additional monthly expense of the ground lease- buyers consider them the same.
The ground lease is a separate monthly expense in addition to HOA dues. Make sure you find out how much the HOAs+Ground Lease costs are when considering a condo. Also be aware there is a transfer fee.