An inside look at the Riviera Palisades
The Riviera was created in 1926 as an exclusive community with European charm and Mediterranean-style estates within the area of the then Los Angeles Athletic Club. That club became the famous Riviera Country Club which once hosted horse shows and top-flight polo matches and now hosts the February Northern Trust Open on the PGA golf tour.
This section of the Palisades preserves some of our most interesting and historical architecture. Known for gracious and scenic properties while enjoying close proximity to the Palisades Village, Brentwood, and Santa Monica, the Riviera endures as one of the most desirable and expensive neighborhoods in Southern California. Most of the street names are Italian in origin, many being inspired by the area of the Amalfi Coast, south of Naples, where “the mountains meet the sea”.
The Riviera encompasses about 700 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 was sold in 2013 for just over $5.2 million.
While the number of Riviera homes sold last year is about the same as ten years earlier, clearly, there has been a very large price appreciation.
The Highlands: A decade of change
Jan 1 – Dec 31
Jan 1 – Dec 31
|Properties Sold||19||20||▲ 5%|
|Median Price Sold||$3,400,000||$6,950,000||▲ 104%|
|Average Price Sold||$4,000,000||$7,371,000||▲ 84%|
|Price Per Square Foot||$855||$1,458||▲ 70%|