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NBA superstar LeBron James has apparently expanded his Los Angeles–area real estate portfolio with the purported purchase of a storied Beverly Hills mansion, according to the Real Deal.
The news comes just a month after an unfounded rumor—debunked by the Los Angeles Times—that the hoops great had picked up a $52 million mansion in L.A. Clearly, there’s plenty of interest in where James will rest his famous head.
If the Beverly Hills purchase is, in fact, for real, “King James” would be buying a home from Hollywood royalty. The residence belonged to Lee Phillip Bell, co-creator of the popular and long-running soap operas “The Young and the Restless” and “The Bold and the Beautiful.”
The daytime TV titan died in February at the age of 91. In addition to this 90210 home, Bell’s Malibu estate landed on the market in April for $21.5 million. It was recently sold for $18,275,000.
But let’s turn back to the King. Here’s what we know about James and his giant homes.
The Mediterranean mansion offers incredible perks
The 2.5-acre property is situated on a promontory. A long driveway opens to a motor court and courtyard, and the compound features views of downtown Los Angeles, the ocean, and the Santa Monica Mountains.
Built in 1934, the estate has four bedrooms, eight bathrooms, and 9,146 square feet of living space. It features two bedroom suites, multiple entertaining areas, and seven fireplaces. The property also comes with a screening room, pool, and pool house with two bathrooms.
“It makes great sense LeBron would add this Beverly Hills mansion, just east off of his Brentwood home, to his portfolio,” says real estate agent Michelle Oliver with Douglas Elliman. Oliver isn’t connected to the purchase, but is an area expert.
The property comes with elements that appeal to wealthy buyers, says Oliver, citing the lighted tennis court, two detached guesthouses, a large motor court, as well as the superb views.
“This property has a lot of upside potential as well for someone as real estate–savvy as LeBron,” she continues. “Maybe he’ll trick out one of the guesthouses into a state-of-the-art indoor-outdoor gym like he did in his previous house.”
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A pretty penny
Property records show the estate was last sold in 1986 for $2.9 million. The residence then came on the market last month for a hefty $39 million. The listing is still available at that price, so it’s not clear what—or if—James shelled out to snag the mansion.
For the sake of comparison, there are some slightly less expensive options if he appreciates the neighborhood. A nearby contemporary comes with less land but luxury galore, including a pool, wine wall, gym, home theater, and motor court, for $38 million. Another brand-new build in the area offers an open floor plan and indoor-outdoor living for $18.7 million.
James already owns homes in nearby Brentwood
The Los Angeles Lakers star doesn’t shy away from splashy purchases. This would be the third home in the Los Angeles area that he’s acquired. In 2015, the three-time NBA champion picked up a prize property in upscale Brentwood for $21 million. The 9,400-square-foot custom abode comes with six bedrooms, a pool, cabana, and verandas for dining and lounging.
That purchase sparked a wave of rumors—which came true—that the then-Cleveland Cavalier was eyeing the West Coast for his next big basketball move.
His second acquisition, also in Brentwood, came at the end of 2017, for a cool $23 million. The land grab seemed to further confirm James’ intentions. The brand-new build has eight bedrooms, and features a living area with sliding glass doors. Luxe delights include a 1,500-bottle wine cellar, home theater, spacious kitchen, gym, wine and cigar lounge, and bar. The grounds boast marble patios, an outdoor kitchen with a built-in barbecue, and oversize pool.
Why buy?
While these two Brentwood homes are seriously sweet pads, this latest acquisition is definitely fit for the King.
“First of all, it’s very private,” says local expert Sally Forster Jones, executive director of luxury estates for Compass and president of the Sally Forster Jones Group. “That would work for someone like LeBron James.”
And with the pandemic showing no signs of abating, this property offers some hard-to-find features that appeal to a megawatt star with millions at his disposal
“It’s like a private resort, where you don’t have to leave at all to go anywhere,” says Jones. This is an ideal perk for the basketball legend when he returns from the NBA’s makeshift bubble in Orlando, FL.
The acreage makes this property particularly valuable, adds Jones. “It’s very hard to find 2.5 acres in this area.”
Despite the home’s large lot and privacy, the commercial district of Beverly Hills is easily accessible.
“It’s close to everything but still far enough away so you have the privacy and you have the land,” she adds.
In fact, the property in one of the country’s most exclusive ZIP codes is something of a hat trick.
“It’s very hard to get … land and views and privacy. All three of those things as a combination are very difficult to get,” she says.
Jeff Hyland and Rick Hilton with Hilton & Hyland hold the listing.
The post Look Inside the Beverly Hills Compound LeBron James Is Reportedly Buying appeared first on Real Estate News & Insights | realtor.com®.
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