Kanye West knocks £11 million off gutted Malibu mansion asking price

12 April 2024 , 12:26

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Kanye West's coastal home has been called a 'fixer-upper'

They say that when it comes to property, location is everything, however this doesn’t seem to be the case for Kanye West, whose gutted beachfront Malibu mansion is showing no signs of shifting.

One of the best selling music artists, with 160 million records sold and 24 Grammy awards under his belt, the 42-year-old recently slashed the cost of his coastal dwelling by £11 million ($14 million), from the original £42 million ($53 million) price tag, dropping it to £31 million ($39 million) this week. The oceanfront Malibu manor was reportedly purchased by Ye for £45 million ($56 million) in 2021.

It’s one of the few stateside residences ever designed by famed Japanese architect, Tadao Ando, who has become one of the billionaire elite’s most sought-after architects.

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Kanye West's Malibu beachfront home faces challenges (BACKGRID)

The architectural kudos of the coastal abode seems to have done little to help shift the property, however, which was completely gutted during Kanye’s ownership in preparation for a full renovation that never materialised. Now the 4,000 sq ft residence, with approximately 1,500 sq ft of outdoor decks, is definitely a ‘fixer-upper’, currently missing windows, doors, plumbing and electricity.

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Kanye West has slashed the price of his Malibu home, listing it with Jason Oppenheim of the Oppenheim Group (Getty Images for Fast Company)

With the controversial rapper trying to sell since December, he enlisted the help of ‘Selling Sunset' star Jason Oppenheim of the Oppenheim Group to help make it happen. Oppenheim previously told the Wall Street Journal that a buyer will need to spend “several million dollars” and undertake extensive work to make the beach-side home, which has three stories, four bedrooms, with the ocean visible from every room in the house, habitable.

Languishing in the middle of one of the most luxurious communities Los Angeles has to offer, the home, that boasts views of the Pacific Ocean, will put the new neighbours in good company, with other celebrity residents in the area said to include Jason Statham and Halle Berry.

Emma Rowbottom