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The Real Deal Los Angeles

Producer Megan Ellison sells last of her Mt. Olympus homes for loss

Hollywood producer sold to Teddi Jo Mellencamp of the “Real Housewives of Beverly Hills”
January 04, 2018 03:00PM

Mount Olympus neighborhood and Megan Ellison (Credit: Google Maps)

So much for a happy ending.

Annapurna Pictures founder Megan Ellison sold the last of her Mount Olympus homes for $4 million — $1.18 million less than what she paid for it in 2015.

The buyer of the 4,309-square-foot property was Teddi Jo Mellencamp, daughter of musician John Mellencamp and the newest cast member of the “Real Housewives of Beverly Hills,” according to Variety. The sleek, wood-paneled, five-bedroom home offers commanding views across the city to the Pacific Ocean.

Mellencamp is no stranger to the neighborhood. Her new pad is not far from a 2,918-square-foot home she and husband Edwin Arroyave bought in 2011 and currently have on the market for $3.2 million.

The trade marks the last of the properties Ellison owned and sold in Mount Olympus since 2013. The producer and real estate investor sold her 8.2-acre mountaintop estate there for $35.7 million in 2017, after combining two parcels for $30 million in 2013.

In late December 2016, she paid $15.5 million in an off-market deal with Oscar-winning cinematographer Janusz Kaminski for a 1.12-acre compound outside Mount Olympus near the Beverly Hills Hotel. The compound includes a 5,000-square-foot Spanish hacienda-style main home, a smaller guest house, and a semi-subterranean structure.  [Variety]— Dennis Lynch