Rihanna has an extensive real estate portfolio; in March 2021, she bought a Beverly Hills house, neighboring her $13.8 million mansion, for $10 million. She has been selling her homes months after buying them and never seeks to make much profit. For instance, the West Hollywood home she bought for $2.75 million was put on the market for $2.85 million less than six months after acquiring it.
The singer also likes to rent out her houses because now the $13.8 million Beverly Hills home can be rented for $115,000. Among other properties she is ready to dispose of is Rihanna’s Hollywood Hills’ home going for $7.8 million, and here is more regarding the house.
She Bought It at a Discount
The singer hopes to make a profit of $1 million if she finds a buyer willing to pay $7.8 million. The house had been listed for $6.99 million when she bought it, but she managed to get a small discount and added it to her real estate portfolio for $6.8 million. After barely a year on the property, she wanted to rent it out, and Architectural Digest published that the rent was $35,000 per month.
The house spans about 7,100 square feet shared between the detached guest house, and the main house has lots of amenities that make the $35,000 rent or $7.8 million price tag seem fair. It boasts six bedrooms, one in the detached guest house while four en-suite bedrooms and the master en-suite are in the main house. It also has eight full baths and two half bathrooms. The main house has a royal purple movie theater, a gym, a game room best for playing billiards, a wraparound balcony, and a sitting room. The stadium seating arrangement in the theater ensures no obstruction during movie nights.
The gym occupies what would have been a guest suite and has a private bath and balcony. She appreciates the fine things in life, and the bathtub is egg-shaped, while the bedroom has a fireplace and mini-lounge. The formal living room also features a fireplace, while LED-backlit wood beams make the dining room seem heavenly. Rihanna’s love for dark hues is evident in the kitchen, where you will find gray stone countertops and dark-colored cabinetry.
A massive T-shaped island connects to the family room. The foyer is spacious, making the large staircase suitable. The pool is gorgeous. Privacy is mandatory in any celebrity home; hence the three-story mansion features steel-framed windows and doors. There are also secure gates, and the lush green fence is so high that the house sitting on 0.44 acres is barely visible from the streets. Still, even if the home is tucked in the Hollywood Hills, Rihanna ensured that she could enjoy the beautiful view of the Sunset Strip from the comfort of her property.
What Could Have Prompted Her to Sell It?
Rihanna probably planned on spending a considerable amount of time on the property. Unfortunately, that was not to be. According to USA Today, in May 2018, Eduardo Leon broke into the house and spent 12 hours unnoticed before Rihanna’s assistant found him. Leon had climbed over the fence and broken in, although, at the time, the singer was not home.
After the assistant alerted the police, Leon was later charged with burglary, vandalism, stalking; all of which were felony counts apart from a misdemeanor of resisting arrest. That one incident did not give the singer sleepless nights, but barely three months had passed before another home intrusion occurred.
Police responded to reports of a break-in in Hollywood on the 7800 block of Hillside Drive, which was later found out to be Rihanna’s mansion. As the authorities arrived at the scene, they spotted three black males fleeing, but they did not apprehend them. They had to rely on security cameras to identify the suspects and see if they had stolen anything from the property.
The two home intrusions resulted in Rihanna putting up the home for sale for $7.495 million, according to Dirt (). It seemed like a reasonable price, but it failed to land a buyer resulting in the musician renting it out for $35,000. Now it is back in the market, and Rihanna seems optimistic about her chances of finding a buyer, given that she has hiked the price to $7.8 million.
She Once Sold Her House at a Loss
Rihanna has not always done her due diligence when buying property, and it cost her to the tune of over $2 million. According to Business Insider, she purchased a Beverly Hills house in 2009 for $6.9 million. When the rains came, the house flooded, and it must have been a shock for the singer watching a home that cost millions of dollars sitting in water.
Her disappointment led her to file a lawsuit against the former owner, buyer’s agent, inspection firm, engineer, and other parties she felt should be held accountable for her loss. The construction flaws made the house worth millions of dollars less than the $6.9 million she had paid for, so she listed it for $4.5 million.
The purchase was a regrettable decision that saw her at the edge of bankruptcy. According to Daily Mail, her accountant had advised her to buy a home in Los Angeles because it was a good investment. However, the leaky house turned out to be a costly mistake. From the $11 million she had at the beginning of 2009, she was left with only $2 million after buying the property.
As if that was not enough, she had to sell it at a $2 million loss, and the angered Barbados beauty sued the accountant for $30 million but settled for a little over $10 million. Due to her experience, it is no wonder that she is determined to turn a profit on the Hollywood Hills home.
You can also read: