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Celeb R.E.: Miley Cyrus' Toluca Lake Family Home Hits the Market at a Potential Loss

Image courtesy Dilbeck Real Estate
The always informative folks at LAT Hot Property revealed on January 19, 2015 that Billy Ray Cyrus, father of the popular singer and former Hannah Montana star, Miley Cyrus, has listed the family compound in Toluca Lake at $5,995,000. 

The home measures 6 Beds/6.5 Baths on 8,700 sqft on a total lot size of 0.62 acres built in 2007. The listing description states:
Welcome to this Tuscan Inspired Compound Designed by Famed Montecito Architect, Bob Easton. This Walled and Gated Estate Features 6 Bedrooms & 7 Bathrooms with approximately 8,700 Square Feet of Interior Living Space (per R. E. S. T) situated on a 26,939 Square Foot Lot for Gracious Living. Security System and Cameras are in place for Ultimate Privacy. Upon Entering the Property Gates, you drive down a Long Tree-Lined Driveway of Brick Pavers leading to a Motor Court and 3-Car Garage with 3 Individual Arched Doors. The Grounds are Tranquil and Serene with Mature Landscaping and Tall Palm Tree Clusters throughout the Property. The facade of the Estate is Old World Tuscan Inspired with a Juliet Balcony, Wrought Iron Accents, Copper Rain Gutters, Arches & Columns, Red Clay Tile Roof, and Ivy Infused Walls on parts of the Structure. One of the Most Special Properties in Toluca Lake! Don't Miss this Exclusive Opportunity!
The Cyrus family purchased the home on May 17, 2007 for $5,838,000 and based on the current asking price will be making a gain of $157,000 which will easily be eaten up by commissions and taxes so there is a good chance that the Cyrus family will take a loss unless a bidding war drives the final sale price higher.

Miley Cyrus currently lives in a Studio City Mid Century Modern home that was purchased for $3,900,000 on June 1, 2011measuring 5 Beds/7 Baths on 5,173 sqft. In addition to the Toluca Lake home featured in this post, the Cyrus clan also own a home next door that was purchased for  $3,400,000 on April 14, 2009 consisting of 4 Beds/4.5 Baths with 4,045 sqft on 0.92 acres. This home has some history to it as it was once owned by Freddie Prinze Jr under the Jalapeno Trust from 2000 to 2003 which was then sold (taking a more than $400K loss) to furniture industry icon Guy Chaddock. Your Mama at the Realestalker discussed this home purchase which can be viewed here.

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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