Marina del Rey

No. Marina del Rey is unincorporated Los Angeles County land. The county owns it, the Department of Beaches and Harbors manages it, and the Board of Supervisors is the local government, with the Sheriff and County Fire providing services. A Marina del Rey mailing address does not settle the question, because ZIP 90292 also covers City of Los Angeles areas like the Marina Peninsula. Check the tax bill to see which side of the line a property is on.

You buy the unit and an interest in the ground lease, not the land itself. When the master lease ends, the land and improvements are governed by the lease terms, not by you. Ground rent is often built into the HOA dues and can reset over time. Before writing an offer, get:

• The recorded master lease and its expiration date
• Any extension or renegotiation history with the county
• The HOA budget, showing how ground rent is paid and when it can change

Sometimes. Fannie Mae generally requires a ground lease to run at least five years past the loan's maturity, so a 30-year loan needs about 35 years left on the lease. As leases get shorter, more buyers pay cash, choose shorter loan terms or use portfolio lenders. Leasehold interests are also assessed for property tax as a possessory interest. Talk to a lender about the specific building before you fall for a unit.

The City of Los Angeles' Rent Stabilization Ordinance does not apply on county land. Instead, the county's Rent Stabilization and Tenant Protections Ordinance generally limits rents on units with a certificate of occupancy dated on or before February 1, 1995, on properties with two or more units. Single-family homes and condos are usually covered by its eviction protections. Properties on the City of LA side of 90292 follow the city's rules instead.

Marina del Rey is in LAUSD, though there are no schools inside the marina itself. Children typically attend nearby schools such as Westside Global Awareness Magnet (formerly Anchorage Street Elementary) or Coeur d'Alene Avenue Elementary, then Marina del Rey Middle School and Venice High. Confirm assignment by address with LAUSD.

Much of it sits at or just above sea level around the basins and is inside the state's tsunami hazard area, with posted evacuation routes. Flood exposure varies by building and floor. Read the Natural Hazard Disclosure, ask the HOA about its master insurance policy, and get your own quotes early.

Not on county land. Measure ULA is a City of Los Angeles tax, so a sale inside unincorporated Marina del Rey pays the county documentary transfer tax but not ULA or the city's transfer tax. A house on the Marina Peninsula or in the Golden Triangle is in the City of LA and does pay them.

Gary Jacobs can pull recent sales for leasehold Marina condos alongside fee-simple homes nearby, so you can see what the lease is doing to price before you choose. He can also point you to lenders who know the marina buildings, so you learn early whether a loan will work.