Leonardo DiCaprio Unloads Malibu House For $10.3 Million

Leonardo DiCaprio has traded a Malibu asset in his real estate portfolio for a big amount. Leo sells down his Malibu house to keep things heated in the real estate business. The sold property was actually bought as a Carbon Beach home two decades back.

Leo’s Malibu home was unloaded for a crazy $10.3 million price. The house exceeded $300,000 above the asking price. Leo bought the beach home back in 1988 for $1.6 million. The 1700 sq. feet property sure fetched a lot more than its regular rate.

TMZ reports that the house has mere 3 bedrooms and 2 bathrooms. It covers 1,700 square feet in area and comes fully furnished. Despite being located in the sand near Malibu beach, it got sold at more than $10 million which is simply crazy.

Before selling the property, Leo was renting it out $25k a month. The income from the said property seemed steady until it skyrocketed to 10 million dollars. Apart from this, Leo also owns two other properties in Malibu.

DiCaprio had a busy summer buying and selling real estate. Earlier this year, he bought another house in Malibu for $13.8 million. If you are wondering just how rich Leo is, he also owns a vacant lot in Malibu which he fished for $23 million.

The sold Malibu pad was bought when the actor was fresh off of the success of Titanic. Originally built in 1950, the house was refurbished afterwards. The 1715 square feet home also features an upper and lower deck. It provides plenty of room to spread out and enjoy the view. Leo now owns one less property but he’s still the King of Malibu.

What’s your take on this story? Sound off in the comments!