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The Riviera - Pacific Palisades' Most Prestigious Neighborhood Posted On :Jan 15-2015

The Riviera encompasses about 900 homes on larger lots with mostly wide streets and deep setbacks, and appeals to people who appreciate privacy. Stretching from Amalfi Drive in the west to San Remo in the east, the Riviera is divided into north and south sections, which are casually referred to as Upper and Lower Riviera, and separated by Sunset Boulevard. In the Upper Riviera, many homes offer views that span from downtown Los Angeles to the ocean. Some streets in the Lower Riviera overlook the golf and tennis courts.

The Riviera is home to everyone from multi-generation money to low-profile celebrity residents (including entertainment industry figures, musicians and professional athletes). Nancy and Ronald Reagan were perhaps the most famous. They moved to Amalfi Drive in 1953, wanting to be farther from Hollywood, and later made their home on San Onofre until 1980 when Reagan was elected President of the United States. Their former residence sold in 2013 for just over $5.2 million.
 

 

# Sold

Median $

Avg $

$/ square foot

2014 (Jan 1 – Dec 31)

21

$6,800,000

$6,900,000

$1,100

2011 (Jan 1 – Dec 31)

19

$3,400,000

$4,000,000

$855

% Diff

10 %↑

100%↑

72%↑

29%↑

Based on information from the Association of REALTORS®/Multiple Listing Service from 1/1 – 12/31 in 2011 and 2014  and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. If your Property is currently listed for sale this is not intended as a solicitation of that listing. CalBRE#00902158

Michael Edlen is ranked #52 of all agents in the country with nearly $2 billion in sales and more than 1,200 transactions. He has tracked Pacific Palisades sales since 1987. If you would like to know what your home may be worth today, Michael can be reached at 310.230.7373 or michael@michaeledlen.com.

 

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