Dr. Dre’s Woodland Hills mansion sells fast, but at a discount

The music mogul, who owned his 8-bedroom home for 20 years, had to contend with an unstable LA luxury market

Aug.August 21, 2019 10:00 AM
Dr. Dre and his Woodland Hills home (Credit: Getty Images, iStock, Realtor)
Dr. Dre and his now-former Woodland Hills home (Credit: Getty Images, iStock, Realtor)

Music mogul Dr. Dre has made a quick sale on his Woodland Hills mansion — complete with huge fish tank and saltwater pool — but the deal came at a discount.

The 54-year-old founder of Aftermath Entertainment and Beats Electronics unloaded the 16,000-square-foot home for $4.5 million, according to the Los Angeles Times. It was a 14 percent discount from the asking price, when the home hit the market a month ago.

The 30-year-old mansion has been renovated and includes eight bedrooms and 13 bathrooms. It has a movie theater, indoor spa, an elevator and a 150-gallon fish tank. The property also includes a saltwater swimming pool.

He bought it in1999, paying $2.35 million at the time.

The sale, below asking price, was another indicator of this year’s slowdown in the Los Angeles high-end residential market. The first quarter saw a precipitous fall: 31 percent fewer homes sold compared to the same period in 2018.

According to Forbes, Dre has a net worth of $800 million. In the last few years, he has made some big residential deals in L.A. Last year, he paid $4.9 million for a 9,400-square-foot home in Calabasas.

He sold a home in the Bird Streets for $32 million in 2015, a year after paying Tom Brady and Gisele Bundchen $40 million for a massive compound in Brentwood. [LAT] — Dennis Lynch

Related Article

From left: Kristen Dunst and her former home on Toluca Lake Road, and Roy E. Disney and the home in Toluca Lake (Credit: Getty Images and Redfin)

This week in celeb real estate: Kirsten Dunst makes lightning sale in Toluca Lake, home owned by Disney heir trades again…and more

Home at Stratford Circle with Hungarian couple Ildiko Szekeres and Gyorgy Nagy (Credit: Getty Images)

Olympic curlers score Bel Air Crest mansion that lingered on the market for 4 years

Skid Row Housing Trust CEO Lee Ragas

Prolific DTLA affordable housing developer pushes into Van Nuys

Roy E. Disney and the home in Toluca Lake

That Disney magic? Toluca Lake home that belonged to a Disney heir sells over asking

Celebrity real estate sales: Ellen DeGeneres, Jonah Hill

This week in celeb real estate: Ellen DeGeneres flips for Santa Barbara and Jonah Hill settles down in Santa Monica…and more

From top: Ellen DeGeneres and Portia de Rossi, Jan Koum and Ron Meyer, and Pierce Brosnan with his new home in Santa Monica (Credit: Getty Images)

This week in celeb real estate: Ellen DeGeneres sells in Beverly Hills and Whatsapp founder buys $100M Malibu mansion…and more

Pierce Brosnan and his new home in Santa Monica

“The world is not enough,” but for one former James Bond this Santa Monica pad is

Jason Yaselli and Usher (Credit: Getty Images and iStock)

Leave the furniture, take the diamond ring: Luxury brokers advise vigilance after fellow agent charged in open-house burglaries