Dr. Dre Likely Upgrading After Selling $6 Million Calabasas Home
It appears that Dr. Dre is moving on to bigger and better things. Only a week after reports said he’s inking a hundred-million-dollar deal to sell his music catalog, the rapper has sold his Calabasas home for $6 million.
Originally built in 1997, the home features a Mediterranean-inspired look and feel. It comes with over 9,800 square feet of living space, including 6 bedrooms and 7 bathrooms. The home sits on 0.8 acres of land.
Some of the home’s outdoor features include ample palm trees, a firepit lounge, sports court, standalone pizza oven, a stone fountain, and a garage with space for 8 cars.
Dr. Dre hasn’t owned the home for very long. He originally purchased it in 2018 for $5 million, so he only made a $1 million profit from the sale.
It’s possible that Dr. Dre’s reason for selling the Calabasas abode is to upgrade to something even more luxurious. This is highly likely, given that he’s about to come into a lot of money.
However, this was never Dr. Dre’s permanent residence. He currently owns another property in Calabasas as well as a $40 million estate in Brentwood that he previously purchased from Tom Brady and Gisele Bundchen.
He's also got another property on the market currently – his Malibu vacation home, which he’s seeking $20 million for.
It was first reported the home was on the market in late November. With a view of Carbon Beach, the home has 8,800 square feet of living space, including 6 bedrooms and 7 bathrooms.
He originally acquired the property in 2000 for $4 million, so if it sells at the asking price, Dr. Dre will make a considerable profit.
But nothing compares to the deals he’s reportedly negotiating over his music rights. Earlier this month, it was reported that he’s close to finalizing two separate deals – one with Universal Music, and another with Shamrock Holdings – which together total around $200 million in profits.
Dr. Dre won’t be selling his entire music catalog, however, rather only a selection of some of his biggest hits and albums. This means he’ll still be able to make a passive income on the music he retains the rights to.
$200 million will certainly pad Dr. Dre’s net worth, but he’s already estimated to be worth anywhere between $500 million to $850 million, largely thanks to his brands and work in music production in addition to his own solo career.
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