Inside JLo and ARod’s incredible $8m Malibu mansion as they make $175k profit – despite hoping for $1m in house flip
JENNIFER Lopez and Alex Rodriguez have sold their Malibu beach mansion for $6.7 million – making just $175,000 in profit. The Hollywood couple bought the five-bedroom pad from Entourage star Jeremy Piven for $6.6 million last February and had been hoping to scoop $1 million after flipping it. JLo and ARod first listed their lavish […]
JENNIFER Lopez and Alex Rodriguez have sold their Malibu beach mansion for $6.7 million – making just $175,000 in profit.
The Hollywood couple bought the five-bedroom pad from Entourage star Jeremy Piven for $6.6 million last February and had been hoping to scoop $1 million after flipping it.
JLo and ARod first listed their lavish home for $7.99 million in July, but brought the asking price down after getting no takers.
The couple – who have a combined net worth of $750 million – had “planned to live in the house, but had a change of heart and decided to sell,” according to TMZ.
They renovated the three-level home with the help of HGTV star Joanna Gaines.
Jennifer invited Joanna over to see the house shortly after snapping up the property and the duo were pictured on the beach together last March.
“Jennifer wanted to walk the space with Joanna in person,” an insider told People at the time.
“They’re both extremely busy, but it’s hard to take on any kind of home project without actually seeing the space.”
The source added that the meeting was “really just an opportunity for them to walk the space together and for Joanna to hear Jennifer’s vision for the space.”
The 4,400 sq ft home is situated on an exclusive stretch of sand known as Jane Seymour beach because the actress lived in the area.
The pad, built in 1949, boasts sweeping views of the Pacific Ocean thanks to sliding glass walls and outdoor decking.
It features a steam sauna, a hot tub and a home theater.
Previous owner Jeremy Piven listed the house for a staggering $10.49 million in June 2017, before lowering the price several times.
The Mr Selfridge star had bought the property for $3.5 million in 2004 and is believed to have made significant renovations.
Despite a disappointing profit on the Malibu home, Jennifer has an extensive portfolio of real estate under her belt.
The Hustlers actress owns multi-million dollar New York penthouse, a Hidden Hills mansion and a $40 million, 13,932 sq ft estate in Bel Air.
The mother-of-two also owns a compound in Coral Gables, Florida, and has a $10 million, three-acre mansion in the Hamptons.
Meanwhile, she and former baseball player Alex recently dropped $40 million on a 10-bedroom, 12-bathroom estate on Miami’s coveted Star Island.
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The compound boasts more than 40,0000 sq ft and will no doubt have enough room to entertain Jennifer’s 12-year-old twins Emme and Maximilian and Alex’s daughters Natasha, 15, and Ella, 12.
J-Lo and A-Rod have been dating since February 2017.
He proposed in March 2019 and they are planning a wedding, which was delayed because of the coronavirus pandemic.