The celebrity talk show host has been seeing a lot of success in the real estate realm.
While most know Ellen DeGeneres for a show that was so popular it ran for 19 years, the comedian and TV host has recently been finding success in an entirely different realm: real estate investing, restoration and flipping.
This year, the 64-year-old bought a 12,000-square-foot mansion in California’s Montecito for $21 million and earned a cool $15 million in profit when she resold it off-market just half a year later.
Another property that DeGeneres and her wife Portia de Rossi bought in April for $5.4 million is a small 1915 estate in the Hedgerow District of the same celebrity enclave.
A 1,900-Square-Foot House With A Red Door
As first reported by celebrity real estate site Dirt.com, the 1,900-square-foot estate is once again on the market for $5.8 million. It comes with a two-bedroom, two-bathroom main house with an eye-catching red door and a one-bedroom cottage for guests or other visitors.
While the main house is built in the pre-Crafstman style, the inside kitchen, bathroom and furnishing have been renovated for a more modern look. The exterior has an outdoor seating area with a fountain and a second single-room property that had once been used as both an office and a storage shed.
Inside, the house comes with multiple lounge areas with fireplaces, rooms with floor-length windows and a fully-equipped chef’s kitchen. But the property is on the smaller side (particularly when it comes to LA celebrity standards) and the listing, which is held by Riskin Partners of Village Properties, markets the property by saying that “good things come in small packages.”
“Nestled in the Hedgerows on a darling little lane, this charming cottage embodies the old adage that good things come in small packages,” the listing description reads.
This is hardly the first property that DeGeneres wanted to flip — prior to this, she and de Rossi already made seven real estate deals in 2022. She has talked to reporters about how she likes to renovate and restore historic properties.
“We buy a house and we love it and we stay in it,” DeGeneres said during an appearance on the Today show in 2018. “Then we get a little bored because we like a different style or different aesthetic.”
Ellen DeGeneres Is Doing Some Serious Home Flipping
Properties DeGeneres and de Rossi sold in 2022 include the $36 million Montecito mansion as well as a Mediterranean property that the pair bought for $12 million and sold for $13.9 million a few months later.
Journalists’ lists keeping track of DeGeneres’ real estate portfolio cannot be updated fast enough as they keep changing given her and de Rossi’s frequent purchases and resales.
As a home-flipper, DeGeneres has also been successful in an area that often poses trouble for others — given the narrow pool of buyers, celebrity real estate tends to sit on the market for longer than homes priced closer to a given area’s median.
Basketball star Michael Jordan listed a seven-acre estate in Illinois’ Highland Park for $29 million in 2012 and still hasn’t sold it despite lowering the price numerous times to $14.8 million.
But DeGeneres has not only been selling the properties she and de Rossi renovate at lightning-speed but also making a tidy profit in the process. It is, however, still more of a hobby given that the vast majority of DeGeneres’ $500 million net worth comes from what she earned hosting a prime-time television show.