April 19, 2012
Stallone Flipping La Quinta House
According to the Real Estalker, that's a home owned by Sylvester Stallone. He bought it in January 2010 for $4.5 million and has it on the market now for $4.5 million (so I'm not sure that's technically "flipping"). Real estate listing with all details here. The home is in The Madison Club.
Property records show a Woodland Hills-based trust, which Miss Spillerguts swears on baby bunny rabbits is connected to Mister and Third Missus Stallone, acquired the two-story, Addison Mizner-inspired Mediterranean-style villa in January 2010 for $4,500,000.
The single-family residence in question, one of four that surrounds a shared motor court, is one of 19 similarly sized and styled luxury villas set amid the dozens of high-cost custom home sites behind the guarded gates of the hoity-toity The Madison Club where it's not uncommon for vacant lots well under an acre to list for more than two million bucks but rarely sell for anything close to that amount.