Serial real estate investor Ellen DeGeneres has plucked a luxurious oceanfront property out of foreclosure in Santa Barbara County for $18.6 million.
DeGeneres’ latest property acquisition is located on highly coveted Padaro Lane in Carpinteria, CA. It’s a “low-key but super-expensive street where several other celebrities also reside,” according to Yolanda. Neighbors include A-list couple Ashton Kutcher and Mila Kunis.
The 1.13-acre property comes with a recently remodeled 6,000-square-foot main house and a guesthouse.
Built in 1979, the four-bed, 4.5-bath main house features high ceilings and walls of glass. There’s also a motor court, tennis court, and plunge pool.
Records show the property had belonged to Robert F. Maguire III, a real estate developer who bought the property in 1997 for $3.15 million. The property went into foreclosure earlier this year, and Bank of America took ownership.
The assessed value of this parcel is a smidge over $20 million, which means DeGeneres found a bargain at $18.6 million.
DeGeneres and her wife, actress Portia de Rossi, are still trying to sell a $45 million villa in Santa Barbara. That Tuscan-style estate is a 10-minute drive from DeGeneres’ latest acquisition, but we prefer the new place’s proximity to the beach.
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