Celeb R.E.: Randy Jackson of American Idol Sells Tarzana Home For a Massive Loss
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| Image courtesy Sotheby's International Realty |
Back on September 15, 2014, the fine folks at LA Times Hot Property revealed that Randy Jackson, former judge on American Idol, has just sold his Tarzana home for $1.9 million on August 19, 2014.
The home measures 5 Beds/7.5 Baths on 5,878 sqft on a total lot size of 0.58 acres built in 1990. The listing description states:
Great opportunities await. Beautiful Gated Custom Estate, attention to detail personified. Once of the finest built residences in the highly desirable El Caballero area of the Classic Edgard Rice Burrough's area of Tarzana. Newer Gourmet Kitchen w/ Granite and Stainless Steel Viking Appliances. Sub Zero Fridge & Freezers. His and Her Baths in the Sumptuous Master Suite with direct access to the spa. Elegant and refined, a true gem. All bedroom are well appointed large over-sized suites. Each Bedroom is en-suite with their own walk in closets and bathrooms. Lush green lawn, manicured and well landscaped. Stand alone Guest House with Full Kitchen and central air and heat. Incredible Family and Living room with Wet-bar. Butlers Pantry off Kitchen. Private Pool, Cabana, BBQ with close access to Gelsons, Temples and all the best things Tarzana has to offer. Don't miss.
Jackson purchased this home near the peak of the last housing bubble for $2,725,020 on May 13, 2005 which translates into a massive loss of $825,020 not taking into consideration expenses like carrying costs, renovations, commissions, and taxes although some of the loss may be offset from paying down the principal for almost close to 10 years. Jackson had been trying to sell the home since 2007 with the last known asking price of $2,649,000 in 2009, $2,449,000 in 2010, $2,395,000 in 2011, and $2,199,000 in 2014. The reason for the sale may have been motivated due to the recent planning for divorce from his wife, Erika Riker, which was his second wife.
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| Image courtesy Westside Estate Agency |
Prior to the Tarzana home, Jackson was living in another Tarzana home (shown above, listing pics are from recent sale and not when Jackson occupied property) that was purchased on August 28, 1998 for $620,000 and sold on April 8, 2005 for $1,325,010 for a gain of $705,010 which was probably used as a down payment for the Tarzana home mentioned at the top of the post. The home measures 5 Beds/4 Baths on 4,250 sqft on a total lot size of 0.50 acres built in 1956. This home was previously purchased by Tom Arnold on December 1, 2006 for $1.95 million and sold on July 15, 2008 for $1.8 million representing a $150K loss which was discussed in a Paula Abdul post which confirms how small the world is in the SFV.
Its possible Jackson lived in other areas of the SFV but I cannot confirm.
You can view more SFV Celeb R.E. here.
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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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