Britney Spears’ former Californian abode hit the auction block last week with a minimum bid of $4.499M.The 10,300 square-foot house was initially listed for $10.8 million, but dropped to $7.5 million when buyers shrieked at the price. However, even at $7.5 million the home remains on the market without any serious buyers. As a result, this massive home could potentially be yours for as little as $4.5 million.
The manse is currently owned by Jose Leon (better known as “Pancho”), whom Britney Spears rented the property from for two years. Pancho built the home in 2007 and paid for (possibly with the help of Spears) several upgrades including steam rooms, a wine cellar, and a personal theatre. Throw in a decent location – Calasbasas is not in Los Angeles proper, so you avoid the hubbub of the city itself – and you can see some real value there.
But why is this property hitting the market at such an incredible price? Because Pancho’s wife thinks the home is too big for them, thereby leaving him to sell the home for significantly less than the money he’s poured into the property. Whatever investor or Britney Spears fan that purchases this property will be getting one heck of a deal.
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