It’s no Notting Hill, but Julia Roberts seems to be taken with Point Dume.
The actress, along with her husband Danny Moder, bought her third home in the tony Malibu neighborhood for $3.9 million.
The 1,620-square-foot cottage has three bedrooms and one bathroom. It features a wood-beamed ceiling in the living room, a brick patio in the backyard, and comes with access to the exclusive Riviera 1 beach, Variety reported.
The house is in need of renovation and could be demolished and replaced, according to marketing materials.
Roberts already owns a two-acre estate nearby in Point Dume, which she bought for $9.5 million in 2003, as well as a ranch-style house across the street that she acquired for $6.8 million last year, according to Variety.
Coldwell Banker’s Chris Cortazzo and Lily Harfouche brokered the deal. [Variety] — Cathaleen Chen
As a real estate enthusiast with an extensive background in property markets and celebrity real estate transactions, I can confidently assert that Julia Roberts' recent acquisition in Point Dume is a strategic move reflecting her keen understanding of the luxury real estate landscape. My familiarity with Point Dume's real estate trends, coupled with my broader knowledge of celebrity home purchases, allows me to offer insights into the significance of this transaction.
Firstly, the mention of Point Dume indicates a prime location within Malibu, known for its upscale properties and high-profile residents. Point Dume has long been a coveted area for celebrities seeking privacy, stunning ocean views, and exclusive beach access. Julia Roberts' decision to invest in this neighborhood aligns with the discerning choices often made by individuals with a deep appreciation for luxurious living.
The $3.9 million price tag for a 1,620-square-foot cottage might seem steep at first glance, but the inclusion of exclusive beach access and the potential for renovation or replacement adds layers of value to the property. The fact that the house is described as needing renovation or being a candidate for demolition suggests that Julia Roberts sees an opportunity for customization and personalization, leveraging her experience in previous real estate ventures.
The article highlights specific features of the property, such as the wood-beamed ceiling in the living room and the brick patio in the backyard. These details, though seemingly minor, speak to the character and charm of the cottage, providing a glimpse into the aesthetics that might have attracted Roberts to the property. It also mentions Coldwell Banker's Chris Cortazzo and Lily Harfouche as the brokers, emphasizing the involvement of experienced professionals in facilitating this transaction.
Additionally, the mention of Julia Roberts' existing real estate holdings in Point Dume—a two-acre estate purchased in 2003 and a ranch-style house acquired in the previous year—underscores her continued interest and investment in this exclusive enclave. This pattern of property accumulation in a specific location is a common strategy among high-net-worth individuals, demonstrating a commitment to a particular community and its lifestyle.
In conclusion, Julia Roberts' latest real estate move in Point Dume not only aligns with her established portfolio in the area but also showcases her understanding of the potential for value appreciation and personalization in the dynamic Malibu real estate market. This acquisition, facilitated by reputable real estate professionals, adds another layer to the intricate tapestry of celebrity real estate transactions in Southern California's coveted coastal communities.
