American rapper and record producer. He is the co-founder of Beats Electronics, which had been acquired in 2014 for $3.4 billion by technology giant Apple Inc, Dr. Dre is famously still D.R.E., but he’s nonetheless saying goodbye to his oceanfront vacation home of more than two decades. Last occupied by his ex-wife Nicole Young, the 57-year-old Compton native is publicly offering the Malibu mansion with an even-steven $20 million price tag.
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Even if the house sells at a significant discount, it will still notch an impressive profit for Dre, who acquired the structure in 2000 for about $4.8 million; in the 22 years since, Malibu property values have skyrocketed. The three-story mansion is also notably located on a nearly 7,000-square-foot lot on Malibu’s billionaire-flooded Carbon Beach, which has emerged as one of the city’s most expensive locales, per Dirt.
The listing describes the property as a “contemporary beach estate” that “exudes total luxury and sophistication.” Built in the early 1990s, the swanky home features floor-to-ceiling walls of glass that flood every room with natural light and whitewater views. Behind gates, a courtyard-style entry and an extensive security system, the front door opens into a brief foyer that leads guests to a vast great room primed for entertaining, equipped with a striking stone fireplace and sliding glass doors that open to a beachside balcony.
Other open-concept living spaces include a kitchen outfitted with premium stainless appliances, a carpeted primary bedroom with a fireplace, sitting area and private balcony, a primary closet with a sauna, an executive office, a recording studio, huge gym and five guest bedrooms. At nearly 9,000 square feet, this place is one of the larger Carbon Beach homes.
This isn’t the first time Dre has attempted to sell his vacation pad, which lies a 5-minute walk to Nobu Malibu and was occupied by Nicole Young throughout the erstwhile couple’s contentious divorce. A full decade ago, the Pacific Coast Highway property was listed for a few months at asking prices that ranged between $11 million and $12.5 million.
Last December, Dre settled his split from Young — reportedly paying her a $100 million lump sum but keeping all the marital homes — which include the Malibu digs, two Calabasas mansions and a $40 million Brentwood estate he bought from Tom Brady and Gisele Bundchen — for himself. His current net worth is $400 million, per Forbes.
Kurt Rappaport of Westside Estate Agency holds the listing.
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Sources: Dirt
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