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Kylie Jenner Acquired a Dev...

Kylie Jenner Buys Miley Cyrus & Kylie Jenner Hidden Hills Development Site For $15M
SOLDMultiFamily

Kylie Jenner Buys Miley Cyrus & Kylie Jenner Hidden Hills Development Site For $15M

$15,000,000

$833/SF

Building Size

18,000 SF

Asset Type

MultiFamily

Closing

May 5, 2020

AI

Miley Cyrus & Kylie Jenner have completed a real estate transaction in Hidden Hills. The property involved in the deal is a development site. The purchase was made by Kylie Jenner, who acquired the property for a price of $15,000,000. The site includes an 18,000 square foot main house and a 1,200 square foot guest house.

Summary of transaction details

  • Property Type: Development site
  • Transaction Amount: $15,000,000
  • Market: Hidden Hills

Miley Cyrus, who previously owned the lot, used it as an equestrian estate to store her horses. In 2018, she sold the property for $5,000,000. The current seller obtained approval to construct an 18,000 square foot main house and a 1,200 square foot guest house on the site.

Players

Williams & Williams Estates Group
Williams & Williams Estates GroupBrokerage
The Agency
The AgencyBrokerage

Kylie Jenner

Buyer

$60.6M

vol

5 deals

Buyer

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.06%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93