Ellen DeGeneres has made yet another impressive real estate move, flipping multimillion-dollar properties like they’re part of a high-stakes game of Monopoly. This time, the talk-show host and lifestyle mogul has sold her sprawling estate in Carpinteria, California, for an eye-popping $96 million — just two years after buying it for $70 million. That’s a cool $26 million profit in what seems like the blink of an eye.
From One Mansion to Another: DeGeneres’ Real Estate Hustle
The buyer? Robert Friedland, a billionaire mining tycoon who knows a thing or two about luxury real estate. Friedland, who has built a fortune through his company Ivanhoe Capital, has a keen interest in high-end properties. According to the Wall Street Journal, Friedland has become a regular presence in the exclusive California market.
For DeGeneres and her wife, Portia de Rossi, this isn’t their first rodeo in the world of multimillion-dollar properties. A few months ago, they made headlines by purchasing a $32 million mansion in Santa Barbara — only to sell it back to Friedland for the same price. It seems their passion for real estate is only growing.
Carpinteria: A Celebrity Playground
The estate in question sits in the celebrity-studded town of Carpinteria, which has long been a magnet for A-list names. In recent years, it has attracted the likes of George Lucas and Kevin Costner. DeGeneres’ property, located on the coveted Padaro Lane, stretches across 10 acres and features a luxurious 8,000-square-foot home. The residence boasts beautiful exposed wood beams, a cabana, and a guest cottage. With such amenities, it’s easy to see why this blufftop location is so highly sought after.
Interestingly, DeGeneres and de Rossi aren’t stopping there. They’ve recently expanded their footprint by purchasing an additional 3-acre property next to their Santa Barbara estate for $6 million. The new addition, which houses a nearly century-old home on 8 acres, fits perfectly into their growing portfolio of historic and luxurious properties.
The Real Estate Game: DeGeneres and Friedland’s Ongoing Success
It’s clear that DeGeneres and de Rossi are far from slowing down. Their real estate empire continues to flourish, and they’ve shown no signs of backing off. In 2020, the couple purchased a $49 million estate in Montecito from comedian Dennis Miller and his wife, model Carolyn Espley-Miller.
Friedland, too, has been making moves of his own in the real estate market. He recently sold a Carpinteria property for $49.6 million, just a year after purchasing it for $46.9 million. It’s safe to say that the world of high-end property flipping is something he’s quite comfortable with.
Santa Barbara Area Booms
The real estate market in areas like Santa Barbara, Montecito, and Carpinteria has been on fire lately. In the first half of 2024, single-family home prices in South Santa Barbara County jumped by 8%, with the median sale price reaching $2.265 million. Sales volume also surged by 19% compared to the previous year, according to Village Properties.
With the market showing no signs of cooling down, it looks like DeGeneres and Friedland have made savvy investments in a region that continues to attract both wealthy buyers and big-name sellers. Whether you’re a fan of their work or not, it’s hard to deny that Ellen and Portia have mastered the art of turning a profit in the world of luxury real estate.
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Jason R. Parker is a curious and creative writer who excels at turning complex topics into simple, practical advice to improve everyday life. With extensive experience in writing lifestyle tips, he helps readers navigate daily challenges, from time management to mental health. He believes that every day is a new opportunity to learn and grow.
