Celebrity designer wants 5X return on Los Feliz home

Master flipper Xorin Balbes lists property for $10.75M

Mar.March 15, 2017 12:00 PM
Xorin Balbes and his new house on De Mille Drive (Credit: Zillow, Getty) 

Once dubbed the “queen of the high-end house flip,” celebrity home designer Xorin Balbes is at it again.

He’s looking to sell a Spanish-style house in Los Feliz for $10.75 million, nearly five times the $2.3 million he paid for it in 2015, The Real Deal has learned.

Balbes said the price hike is justified, because of the $7.5 million he spent on the renovations and construction. While the original 1920s-era home on the site was just 3,200 square feet, the new one is more than double the size, after he partially razed the first property and supersized it, he said.

All that’s left of the original home is the entry way, the living room and two upstairs bedrooms.

The replacement home, which sits on less and half an acre in Laughlin Park, spans 7,800 square feet with five bedrooms and 11 bathrooms. It has a living room with wood beam ceilings, an office, a theater, a gym, a sauna and two dining rooms. There’s also a pool house and an indoor-outdoor lounge with a fireplace.

“What’s unique to my work is the indoor-outdoor flow of the home,” Balbes said of the reimagined property.

Billy Rose of the Agency has the listing.

A nearby Franklin Avenue property known as the Sowden House, which was designed by the late architect Lloyd Wright and renovated by Balbes, drew criticism from preservationists who said that Balbes had been too liberal with his changes to the property. That home is now on the market for $4.7 million.

Related Articles

Actor Charlie Sheen and his mansion at 14003 Aubrey Road in Mulholland Estates (Credit: Getty Images and Realtor.com via LAT)

Charlie Sheen takes a loss on Mulholland Estates party pad

Michelle Pfeiffer, Jim Crane and the home (Credit: Getty Images and Zillow)

Move over Ellen: Michelle Pfeiffer is latest celeb RE player

Mohamed Hadid and the mansion (Credit: Getty Images, iStock, and Mega via TMZ)

Judge puts Hadid’s Bel Air mansion on demolition fast-track

Hadid and the home (Credit: Getty Images)

Hadid: I must continue building Bel Air mansion to satisfy creditors

The Beverly House (Credit: Jade Mills Estates)

Beverly House owner hopes Saudi prince is his white knight

Mohamed Hadid says he can’t pay to tear down his mansion (Credit: Getty Images, iStock)

Hadid says he’s too broke to tear down megamansion

Oprah Winfrey and Jeff Bridges with the home (Credit: Getty Images and Realtor.com)

Oprah has now spent $86M on her Montecito real estate empire

The car wash at 1666 N. Vermont Avenue (Credit: Google Maps)

Former car wash owners propose 139-unit development in Los Feliz