“Loyola Marymount University, located in the Venice neighborhood of Los Angeles, down near the beach”
Loyola Marymount is in Westchester, a rather suburban part of LA, set off by itself. Flo and Eddie hail from there. Between there and Venice is the tony area of Marina Del Rey.
Right, not exactly near Venice Beach.
(except as the crow flies, which in LA can be a long way.)