Ellen DeGeneres Pays $14.3 Million to Buy Back Montecito’s Historic Rancho San Leandro – The Hollywood Reporter

Now that the top of her long-running speak present is formally in sight, Ellen DeGeneres is seemingly feeling a bit nostalgic. Extra particularly, she’d prefer to rewind again to the easier days of 2017, when she owned Rancho San Leandro, an impressive Montecito hacienda proper subsequent door to Oprah Winfrey’s ever-expanding, 70-plus acre “Promised Land” property. And now that the Louisiana native and Portia de Rossi have snipped their final residential tie to Los Angeles — their Tudor-style Beverly Hills dwelling offered in April for precisely $45 million to a still-unidentified purchaser, just a few ticks above the $42.5 million they paid for the place in 2019 — the couple are refocusing their power on gobbling up extra Montecito actual property, together with no less than one property they’ve already beforehand owned and offered.

Astute property watchers will recall that again in September 2017, DeGeneres and Portia de Rossi paid $7.2 million for Rancho San Leandro. They gave the place a fast renovation and flipped it at an enormous revenue lower than a 12 months later, in Might 2018, in an $11 million deal. The client was Tinder co-founder Sean Rad, who subsequently married his longtime companion Lizzie Grover in a low-key marriage ceremony ceremony on the property.

Rad first put the property up on the market in spring 2019, asking about $12.7 million, however with no takers it was delisted in early 2020, shortly earlier than the worldwide COVID-19 pandemic triggered the primary wave of U.S. shutdowns. Since then, Montecito actual property has skyrocketed to eye-popping heights; information reveal Rad has now resold the place again to DeGeneres and de Rossi — and the couple paid an astronomical $14.3 million, far more than Rad’s final asking worth and virtually precisely double what they spent for the exact same property lower than 4 years in the past.

The historical past of Rancho San Leandro started circa 1850, when California granted a big swath of land to the Dominguez household, who constructed the unique home and developed the encompassing land into what grew to become a sequence of polo fields.

At present, situated inside a discreet gated neighborhood and approached by way of an extended driveway lined with dozens of historical olive bushes, the roughly 6-acre property contains a number of buildings, chief amongst them a 3,100-square-foot, single-story adobe hacienda, constructed method again within the 1850s and thoroughly preserved for practically 180 years. The L-shaped construction partially encircles a cobblestone courtyard and gives only one bed room and one lavatory.

The traditional home additionally sports activities an eat-in kitchen and an unexpectedly massive nice room with separate residing and eating areas and never one however two equivalent fireplaces, one at every finish of the room.

Throughout the courtyard from the one-bedroom major home are three ancillary buildings linked by a lined veranda. Constructed circa 2004 and designed in a Monterey Colonial-meets-hacienda look, they every have distinct functions — one homes a three-car storage, one other has a non-public workplace and health heart.

The third construction, a two-story affair, gives two visitor bedrooms and three bogs, plus one other kitchen and a colorfully tiled staircase. A step-down front room boasts a hearth and beautiful views of the grounds.

Elsewhere on the property are quite a few equestrian amenities, a boon for the horse-loving DeGeneres and de Rossi. Amongst them are a using rink, a four-stall horse secure, and a big barn. Additionally there's a dressage space and tack room.

Astute actual property watchers will know that this isn't the primary time DeGeneres has purchased again a home she beforehand owned. Approach again in 2006, the property-mad titan acquired a midcentury Hollywood Hills residence that was subsequently offered, in 2010, to window heiress Alison Milgard.

DeGeneres purchased again that Marmol Radziner-revamped property in 2014 for $8.8 million earlier than flipping it once more — lower than two years later — for practically $10 million to Calvin Klein’s enterprise companion Barry Schwartz.

DeGeneres and de Rossi keep no less than three extra properties within the Montecito space, chief amongst them a Cape Dutch-style mega-compound bought for $49 million from Dennis Miller late final 12 months.

This story first appeared on Dust.com, which options further pictures.