Kylie Jenner makes record $15M purchase for 5-acre Hidden Hills plot previously owned by Miley Cyrus
The 'KUWTK' star recently spent nearly $40 million on a brand new mansion, and now she has bought a massive plot of land in her hometown
After becoming a billionaire makeup mogul, Kylie Jenner has now turned into a real estate empress.
The 'KUWTK' star recently spent nearly $40 million on a brand new mansion, and now she has bought a massive plot of land in her hometown.
The 22-year-old grabbed headlines when she purchased a sprawling mansion in the heart of Los Angeles. Nonetheless, she has now upped her real estate portfolio by adding a patch of ultra-valuable land in her Hidden Hills hometown.
According to Variety, the purchase of the “spectacular 5-acre lot" set Jenner back by a whopping $15 million. The plot is supposed to be “one of the largest in all of Hidden Hills," per the report.
While the land is currently barren, the sale reportedly included approved plans for a dreamy 18,000 sq. ft mansion featuring a "12-car garage, guesthouse, barn, guard shack for full-time security detail, a sports court, and a pool," per HollywoodLife. However, only time will tell if the young billionaire sticks with these plans or customizes a dream house of her own.
For all we know, she might even ask Miley Cyrus what she planned to do with the property when she owned it from 2015 to 2018. According to the report, the 'Wrecking Ball' hitmaker previously kept horses on her farm over there.
At some point, per Variety, Cyrus sold the estate for about $5 million to a “non-famous woman." The new owner proceeded to take down the existing ranch, graded the lot, and even acquired permits to build the aforementioned mansion. But as fate would have it, she flipped the property to make some cash instead of actually breaking ground.
Having said that, this is a "record" purchase considering Jenner was able to secure five whole acres of land in the otherwise crowded San Fernando Valley.
Although the plot is nowhere as large as rapper Kanye West's 4,000-acre ranch out in Wyoming, it is quite massive per Southern California standards.
Furthermore, the property is very close to the rest of Kylie's family. According to the report, the Hidden Hills gated community is next to Calabasas -- the part of the Valley that has become rather synonymous with the Kardashian-Jenner family. Anyone who has ever appeared on an episode of 'Keeping Up with the Kardashians' -- including Kris Jenner, Kim Kardashian, and Khloe Kardashian -- considers the gated residential community their home.
Meanwhile, several other stars including Drake, John Stamos, The Weeknd, and Jessica Simpson live there.
The report notes that Kylie many have inherited the taste for real estate from Caitlyn Jenner.
Kylie purchased a $36.5 million home in Holmby Hills just a year after selling off the majority interest in her cosmetics company -- a deal that won her a staggering $600 million.
“Kylie loves real estate investing and has a really good eye for a smart investment when she sees it,” an insider told HollywoodLife. “Once [the coronavirus crisis] is all over and things go back to normal, she’ll be in the heart of LA, which is where she loves to spend time with friends and enjoys going out.”
You can view photos of the property here.