SOLD
Malibu Spec Mansion Sells At Auction For $26.5M
11870 Ellice Street
Single Family Residence
20,000 SF
20,000 SF
Sold 258 days ago
Summary
Sale
CALIFORNIA
Single Family Residence
20,000 sqft
A Malibu spec mansion located at 11870 Ellice Street has been sold in a recent transaction. The property spans 1 acre and features a single-family residential (SFR) layout. The sale took place in the Malibu market, with a sale price of $26,500,000. The mansion has a total square footage of 20,000, resulting in a price per square foot (PPSF) of $1,325. It was completed in early 2022.
Summary of transation details
- Property Type: Single-Family Residential (SFR)
- Transaction Amount: $26,500,000
- Address: 11870 Ellice Street
- Market: Malibu
- Total Acres: 1
The transaction was facilitated by three brokers. Branden Williams and Estel Hilton, representing The Beverly Hills Estates, as well as Aaron Kirman of AKGRE Inc, played key roles in the deal. Their expertise and negotiation skills contributed to the successful sale of this Malibu spec mansion. This transaction highlights the current state of the sluggish spec-home market in the city, as the property was initially listed for $74.8 million but ultimately sold at auction for $26.5 million.
Players
Details
SOLD
IMAGE: Branden Williams, Aaron Kirman & Estel Hilton
DATE: 08/21/2023
ADDRESS: 11870 Ellice Street
MARKET: Malibu
ASSET TYPE: SFR ~ ACRES: 1
BROKERS: Branden Williams & Estel Hilton (@EstelHilton) - The Beverly Hills Estates (@TheBeverlyHillsEstates); Aaron Kirman (@AaronKirman) - AKGRE Inc
SALE PRICE: $26,500,000
SF: 20,000 ~ PPSF: $1,325
NOTE: A Malibu spec mansion, initially listed for $74.8 million, was sold at auction for $26.5 million, becoming the latest victim of the sluggish spec-home market in the city. The 20,000-square-foot home was completed in early 2022.View on map
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Address11870 Ellice Street
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