Thursday, February 1, 2018

Miley Cyrus Reportedly Parting From Her Hidden Hills Horse Ranch

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Presley Ann/Patrick McMullan via Getty Images

Pop star Miley Cyrus is apparently singing goodbye to her Hidden Hills, CA, horse ranch, Variety reports. The “still-not-completed, off-market deal” will leave the former Disney star with one less piece of real estate in Southern California.

Purchased in 2015 for $5 million, the equestrian property and vineyard offers “privacy and serenity” on 5.5 acres, and bills itself as one of the largest parcels in the area.

The home itself is a chart topper. Built in 1954, the 5,100-square-foot structure offers a loft-style great room, wide-plank wood floors, a beamed ceiling, and several seating areas. There’s also a formal dining area, brick fireplace, wet bar, and 1,000-bottle wine cellar. The kitchen includes a center island and breakfast bar.

Walls of french doors open from the living area to a covered veranda overlooking the grounds, pool, spa, built-in barbecue, outdoor fireplace, and landscaping of mature trees.

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Along with the ranch-style house, the grounds offer riding paddocks, a 10-stall barn, chicken coop, vegetable and citrus garden, and a vineyard of cabernet sauvignon and merlot grape vines, according to the listing.

But perhaps tending to chickens, gardening, and riding horses in a gated community was not how Cyrus wanted to spend her time. Variety described the property as “little used,” which may have prompted the not-yet-completed deal. On the face of it, the initial purchase seemed to make sense for the superstar. It’s an area teeming with celebrity residents, from Drake to Kim Kardashian West.

As we reported at the time, the listing was picked up by the Woodbridge Group as a tear-down investment a few years ago. The developers planned to build a megamansion in its place. But a week later, before work could begin on that plan, Cyrus bought the property through her Sunshine Girl Trust.

The triple-platinum-album performer has logged eight Billboard 100 songs, including “Party in the U.S.A.” and “Wrecking Ball.” The pop star recently purchased a home in her native Tennessee. But this doesn’t mean she’s making a permanent move. The star also owns two abodes in Los Angeles.

Obviously she can’t live in all of them simultaneously, but why not get into the real estate game? The successful recording artist and actress has been on the scene since her teenaged role in “Hannah Montana.” She is said to have amassed a fortune of $200 million, and in 2014 was named by Forbes as the seventh highest-paid woman in music, raking in $36 million that year.

The post Miley Cyrus Reportedly Parting From Her Hidden Hills Horse Ranch appeared first on Real Estate News & Insights | realtor.com®.



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