Ozzy + Sharon Osbourne Sell Malibu Mansion
Sold! Ozzy Osbourne and his missus (and manager) Sharon have finally sold their Malibu beach property to the tune of $7.925 million. The couple reduced the price several times, since we're in the throes of a buyer's market, dropping the cost from $10 million to $8.795 million recently. They ended up taking less than they were offering it for.
The Los Angeles Times reports that the swank oceanfront digs had been on the market since 2006 and the initial listing was $14 million. The home is three stories, includes a walled garden, five bedrooms and five bathrooms, while clocking in at 4,500 square feet of space.
While Mr. and Mrs. O. certainly unloaded their abode for much less than they were initially looking for, they still appear to have pocketed a decent profit. Public records indicate that they bought the home in 2003 for $5.1 million and rented it out while maintaining their Hidden Hills, Calif. home as their primary residence.
It's a down real estate market, especially for sellers, so at least they made some return on their investment.