Mystery owner tries to flip Trousdale Estates mansion for $62M

Call it the tale of the yo-yo Trousdale Estates estate, now listing for $62 million.

A mystery buyer who paid $42 million for the 18,200-square-foot spec mansion last July now seeks to flip it for $20 million more, Dirt.com reported.

The seven-bedroom, 14-bathroom mansion at 1108 Wallace Ridge was initially listed in April 2021 for $65 million. Ten months later, it was re-listed for $54.8 million. 

The owner never moved into the Beverly Hills mansion, according to a person familiar with the property.

Set on a half-acre hillside lot, the home was built by Luxford Investment Group, a firm created by Chinese tycoon Wang Zhongjun. 

The contemporary two-story mansion, designed by South Africa-based SAOTA, was publicly led by developer Michael Chen. The home, dubbed Elementi, was featured in a Deconstruct podcast by The Real Deal for the echo of footsteps on its marble floors. 

It was briefly rented by Canadian rapper Drake in 2021 for $215,000 per month.

The only changes made since then was a major alteration to the home’s infinity swimming pool, according to Beverly Hills permit records cited by Dirt.

Luxford spent six years packing the house with highlights.

Set behind gates and towering hedges, a marble bridge over a shallow moat leads to the house, containing a two-story marble atrium with a 150-year-old olive tree shipped from Italy.

A spiral staircase rises along black marble walls to a white marble living room with a black marble fireplace gazing out through walls of glass.

There are two kitchens: a “main” kitchen with Gaggenau appliances, and a butler’s kitchen with twin Viking stoves. A master suite has dual marble baths, a showroom closet and private balcony with a Jacuzzi. 

Downstairs in “Trousdale’s only permitted daylight basement,” according to the listing, is a 20-seat movie theater, a lounge with a wet bar, a 2,000-bottle wine cellar, a gym and a wellness center with massage facilities.

The mansion also contains a 20-foot water wall.

Brokers Branden and Rayni Williams of The Beverly Hills Estates hold the listing.

— Dana Bartholomew