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Celebrity Real Estate: Kaley Cuoco Takes a Massive $500K Loss in Sherman Oaks

[Update January 29, 2014]: Kaley Cuoco purchased Khloe Kardashian and Lamar Odom's Tarzana mansion for closing to asking price in January 2014, you can read more details here

[Original Post]:

Back on November 7, 2011, the always informative Lauren Beale at L.A. Times Hot Property discussed the sale of actress Kaley Cuoco's home in Sherman Oaks for $822,500. Kaley Cuoco is primarily known for playing "Penny" on the hit CBS sitcom The Big Bang Theory where she reportedly earns approximately $200,000 per episode (which will help explain the big loss on this listing to be discussed further down)  (Wikipedia). One other note, Kaley Cuoco has been acting since 1992 with a busy resume playing roles in TV and Film since her inception.

According to the listing this 3 Bed/2.5 Bath, 2,171 sqft home on 10,510 sqft. built in 1937 states:
Amazing price for this south of the boulevard home! Incredible Value! Extremely private, gated, celebrity owned home hidden on a knoll with views. Tastefully updated authentic Spanish home boasts 3 bedrooms, 2.75 baths (redone with new tile). Rich distressed hardwood floors and recessed lights. True formal dining room. French doors open to inviting covered patio ideal for entertaining. Updated kitchen with stainless steel Viking appliances and cozy breakfast room also with French doors opening to patio. Luxury master suite with walk in closet and private bath, tumbled marble and oversized shower. Parklike grounds. An artists retreat.
Kaley Cuoco purchased this property at the height of real estate bubble on October 7, 2005 for $1,355,000. This property was first listed back in October 16, 2007 for $1,285,000 representing a loss of $70K at that time according to Your Mama at the Realestalker. The table below shows the property history with numerous price drops. As you can see from the last transaction, this property was sold in August 2011 for $822,500 which was $532,500 less than what was originally paid representing a 40% loss. Let me repeat, Kaley Cuoco took a massive $500k hit not including other expenses incurred with this property. However, this is not uncommon with today's market. The only difference here and between common folk is that Kaley could afford such a big hit with her high earnings. But at the same time, $500k is a lot of money regardless of your income.

Aug 31, 2011Sold (Public Records)$822,500-8.1%/yrPublic Records
Aug 31, 2011Sold (MLS) (Closed)$822,500--Inactive CRISNet #F11023095
Aug 01, 2011Pending----Inactive CRISNet #F11023095
Jul 25, 2011Price Changed$849,000--Inactive CRISNet #F11023095
Jul 11, 2011Relisted (Active)----Inactive CRISNet #F11023095
Jul 05, 2011Pending----Inactive CRISNet #F11023095
Jun 22, 2011Price Changed$899,000--Inactive CRISNet #F11023095
Mar 24, 2011Price Changed$949,000--Inactive CRISNet #F11023095
Feb 22, 2011Listed (Active)$995,000--Inactive CRISNet #F11023095
Nov 22, 2007- Delisted----Inactive CRISNet #1
Oct 16, 2007- Listed*--Inactive CRISNet #1
Oct 07, 2005Sold (Public Records)$1,355,00028.6%/yrPublic Records
Feb 14, 2003Sold (Public Records)$697,000--Public Records

As you will notice in the listing pictures above, the house was completely empty as Kaley Cuoco purchased another property in the Sherman Oaks area that Your Mama at the Realestalker discussed back in January 2011. On November 19, 2010, she purchased a 5,233 sqft, 5 Bed/5 Bath home for $2,400,000 which I am presuming she rushed into while trying to sell her original property. 

The Sherman Oaks area has been home to other celebrities trying to offload their properties and could maybe take a lesson here from Cuoco if they would like to sell immediately. That list includes Former Marlon BrandoRandall Zisk & Brook LangtonWayne BradyJohn Larroquette, Pink, Jesse Alexander, and not to mention the many other celebrities living in the SFV

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Marty Mcfly

Anything and everything about the San Fernando Valley. This blog will take you back in time when the valley was covered with dirt and orange groves to a leader in the space race to its current status as America's suburb. Come along and join me on this adventure, I guarantee you have been influenced/impacted by the San Fernando Valley in one form or another even if you have never visited or heard of the SFV.

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