Fun with funiculars: Cali homeowners are shelling out up to $250k for incline elevators

Baby boomers want to cut down on hillside hikes

Los Angeles /
Aug.August 11, 2017 10:30 AM

Funiculars are on the rise across the country, thanks to the increasing popularity of waterfront, cliffside homes and an aging buyer pool.

More luxury homeowners are installing personal incline elevators to help them get from the shore to their living rooms, the Wall Street Journal reported. The elevators themselves cost roughly between $50,000 to $250,000 and permitting costs can add upwards of $20,000, depending on municipal regulations.

The trend is particularly pronounced in California. Hill Hiker, a company that builds about 40 incline elevators a year, said half of its projects are in the Golden State, where baby boomers want to cut down on hillside hikes.

Movie director Marcus Nispel, whose credits include “The Texas Chainsaw Massacre” and “Friday the 13th,” dropped a whopping $150,000 on an incline elevator for his Malibu home. The property, on Encinal Bluffs, is on the market as a summer rental for $150,000 per month.

Co-listing agent Markus Canter of Berkshire Hathaway Beverly Hills said that, without the elevator, the property would likely rent for 10 to 15 percent less.

In some cases, the elevators are a necessity.

Andrea Crossman of Coldwell Banker Schmidt in Lake Michigan said it can be hard to sell a luxury property with 300 or more steps to the lake without one. [WSJ] – Subrina Hudson


Related Articles

arrow_forward_ios
Embattled director faces sexual assault allegations. (Getty, Compass)

Director, facing sex assault allegations, sells Malibu home for $14M

Director, facing sex assault allegations, sells Malibu home for $14M
Liam, Chris and Luke Hemsworth with their Malibu home (Getty, Zillow)

Hemsworth bros sell Malibu crash pad

Hemsworth bros sell Malibu crash pad
Red Hot Chili Peppers bassist Flea — real name Michael Balzary — sold his compound for $20 million (Getty, iStock)

Flea sells Malibu estate for $20M

Flea sells Malibu estate for $20M
Chad Richison and Il Pelicano (Douglas Elliman)

Malibu’s Il Pelicano estate sells for $30M below original asking

Malibu’s Il Pelicano estate sells for $30M below original asking
Gal Gadot and her Malibu penthouse (Getty, Chris Cortazzo)

Gal Gadot picks up beachfront penthouse in Malibu

Gal Gadot picks up beachfront penthouse in Malibu
Anne Hearst and Jay McInerney with 23350 Malibu Colony Road (Getty, Redfin)

Anne Hearst and Jay McInerney buy in Malibu

Anne Hearst and Jay McInerney buy in Malibu
Avril Lavigne and the Malibu home (Getty, Realtor)

Avril Lavigne buys Malibu home Scott Gillen rebuilt

Avril Lavigne buys Malibu home Scott Gillen rebuilt
Robert F. Smith and the property (Credit: Google Maps)

Billionaire investor lists Malibu pad after buying Elin Nordegren’s former SoFla properties

Billionaire investor lists Malibu pad after buying Elin Nordegren’s former SoFla properties
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...