Coastal Luxury Homes LLC has completed the acquisition of a sprawling oceanfront residential property at 789 Ocean Front Walk in Venice for a staggering $22.5 million. The 8,500-square-foot estate, sold by Venice Beach Estates Inc., features a main residence and two guest houses, all boasting direct beach access and panoramic views of the Pacific Ocean. The deal, which closed on May 9, 2026, represents one of the highest-priced residential transactions in Venice this year.
The property, originally built in the 1970s, has undergone several renovations but retains much of its original charm. Coastal Luxury Homes LLC is known for its high-end residential developments and is expected to undertake a significant modernization and expansion project. Industry insiders suggest the new owners may either extensively renovate the existing structures or embark on a ground-up development to create an ultra-luxury compound tailored to the discerning Venice market.
This sale underscores the enduring appeal and escalating value of prime oceanfront real estate in Los Angeles, particularly in exclusive enclaves like Venice. Despite broader market uncertainties, the demand for trophy properties with irreplaceable views and direct beach access remains exceptionally strong among high-net-worth individuals and developers. The transaction sets a new benchmark for luxury living along the iconic Venice coastline.
