Kylie Jenner Spends Record-Breaking $15 Million On Hidden Hills Lot Formerly Owned By Miley Cyrus
First, she became a makeup mogul, and now, Kylie Jenner is a real estate empress. After dropping nearly $40 million on a new mansion, the ‘KUWTK’ star bought a giant plot of land in her hometown.
Days after Kylie Jenner, 22, purchased a mansion in the heart of Los Angeles, the young billionaire added to her real estate portfolio by buying a patch of land in her Hidden Hills hometown. The purchase, first reported by Variety, cost Kylie $15 million – in cash – and she now owns a “spectacular 5-acre lot,” one that is “one of the largest in all of Hidden Hills.” (CLICK HERE TO SEE THE PIC OF HER NEW PROPERTY) The land is currently bare, but Variety reports that the sale included approved plans for an 18,000 sq. ft mansion with a 12-car garage, guesthouse, barn, guard shack for full-time security detail, a sports court, and a pool. Though, it’s unsure if Kylie will stick with these plans or customize a dream house of her own.
She might ask Miley Cyrus what she had planned to do with the property. From 2015 to 2018, the estate was owned by the “Slide Away” singer, who reportedly kept horses on her farm there. She sold the place for about $5 million to a “non-famous woman,” per Variety. This new owner demolished the existing ranch, graded the lot, and acquired the permits to build the mentioned mansion. However, instead of breaking grown, she flipped the property and made some bank.
It’s a “record” purchase in that Kylie was able to score five whole acres of land in the San Fernando Valley. While it isn’t as large as Kanye West’s 4,000-acre ranch out in Wyoming, for Southern California standards, Kylie’s property is enormous. It’s also near the rest of her family. The Hidden Hills gated community is next to Calabasas, the part of the San Fernando Valley that has become synonymous with the KarJenner clan. Kris Jenner, Kim Kardashian, Khloe Kardashian and practically anyone who has ever appeared on an episode of Keeping Up with the Kardashians calls the gated residential community home. Also, Drake, The Weeknd, John Stamos, Jessica Simpson, and Kylie’s arch-nemesis/fellow cosmetics tycoon Jeffree Star all live there.
It seems Kylie has indeed inherited Caitlyn Jenner’s taste for real estate. About a year after Kylie sold off the majority interest in her cosmetics company (a deal that netted her $600 million), she purchased a $36.5 million home in Holmby Hills. “Kylie loves real estate investing and has a really good eye for a smart investment when she sees it,” an insider told HollywoodLife EXCLUSIVELY. “Once [the coronavirus crisis] 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.”