The cost of a coastal home drops once you leave the Palos Verdes coastline behind and enter San Pedro. Yes, it's the same ocean, the same Catalina Island and similar coastline views, but if you want to enjoy those features at a much lower cost, it's time to consider San Pedro.
Point Fermin Park hugs the coastline between the Palisades and Point Fermin neighborhoods. The views are stunning, the park is spacious and there's even a lighthouse!
By the way, tours of the lighthouse are offered, and as someone who has taken the tour, I highly suggest you include it the next time you visit San Pedro. I've also attended Shakespeare in the Park and it's a wonderful way to spend a summer evening soaking up a little literary culture along with a healthy does of coastal sea breezes.
I apologize for the "wind effects" but even if you can't understand the words, the scenery says it all.