Film star extraordinaire Leonardo DiCaprio just closed a significant deal on a beach house in Malibu, as reported by TMZ. And in case you were at all worried about Leo’s touch in the real estate world, he managed to turn a very respectable profit on a property that the actor had owned for well over 20 years in the process.
The home is actually somewhat modestly sized, measuring in at just 1,700 square feet and only three bedrooms and two bathrooms. Of course, it’s sitting on a prime piece of Carbon Beach land right on the water and was even sold fully furnished, but it’s still a little shocking that such a property sold for a grand total of $10.3 million – especially when you consider that DiCaprio purchased the house back in 1998 for just $1.6 million.
Here was the home’s no-nonsense real estate listing:
“Best house, large decks, and best price on CARBON BEACH! Enjoy this getaway all year round. Large ocean front deck, with private spa, and steps to the sand. Beautifully furnished 3 bedroom warm and inviting beach home you won’t want to leave. New upper deck, and exterior lighting on the ocean side. Front stairs and side stairs to the sand. All refurbished interiors.”
The $10.3 million closing price was reportedly $300,000 above DiCaprio’s asking price, so he obviously came out very well in the deal. Before this, he had been renting the place out for a reported $25,000 per month.
The sale of this beach house doesn’t mean that DiCaprio is leaving Malbu. Far from it, as he is reported to have recently purchased another home there (that one for just under $14 million) and another Malibu vacant lot that he paid $23 million for.
You can take a look at DiCaprio’s recently sold Malibu beach house in the video below, from Partners Trust Los Angeles Real Estate: