Kylie Jenner is moving on up – the center of the City of Angels. The young billionaire bought a massive new mansion, and we’ve learned EXCLUSIVELY why Kylie dropped nearly $40 million for this new home.
Ciao, Calabasas. Kylie Jenner is leaving the neighborhood that has become synonymous with her family, thanks to Keeping Up with the Kardashians, and headed for a new $36.5 million estate in Holmby Hills, California. For Kylie, who is remains’ Forbes “youngest self-made billionaire” for the second year of the row, that money is no big deal, but as a source tells HollywoodLife EXCLUSIVELY, it was still “was, by far, her biggest purchase” to date. So, why did she drop the cash on this one? “Kylie has purchased several homes over the years,” the insider says. “Kylie loves real estate investing and has a really good eye for a smart investment when she sees it.”
This Holmby Hills estate is “a great investment,” the source tells HollywoodLife, “because it was first listed for $55 million, but then earlier this month it was lowered to just under $46 million before Kylie purchased it for $36.5 million. It’s also brand new and came ready to move in so Kylie didn’t need to make any changes to the place. She got it for a bargain.” Kylie has yet to confirm the purchase, and we’ve reached out to her rep for a comment. The Zillow listing for the property boasts seven bedrooms, 14 bathrooms, 0.83 acres of land (which is enormous for West Los Angeles), and 20 parking spaces. It’s perfect for when Kris Jenner drops by, or when Travis Scott comes over to watch baby Stormi. Kylie’s new place also features a chef’s kitchen, an outdoor projection screen, home theatre, bars, and game rooms, gym, and a championship level lit sports court.
“Nobody knows whether or not she’ll stay there permanently,” the insider says, “but just the fact that she’s living there is already increasing the property’s value. This home makes sense for now because not only is it magnificent and obviously a fantastic place to quarantine with her and Stormi. But once this is all over and things go back to normal, she’ll be in the heart of LA, which is where she loves to spend time with friends and enjoys going out.”
Kylie’s move from makeup into real estate left Caitlyn Jenner beaming. Cait, 70, is “really proud of how Kylie spends her money,” a source told HollywoodLife EXCLUSIVELY. It’s a trait that Kylie picked up from her. “They talk every day, and Kylie always asks for Cait’s opinion, and advice and Cait always encourages her to invest her money wisely.”