|Just because a home is celebrity owned and on a parcel nestled up against the Pacific Ocean, doesn’t mean it’s going to get a quick or profitable sale.
David Spade’s Malibu home was first listed for $16 million in 2008 — at the top of the real estate market — and after several price drops — he sold it in mid June for $10.225 million. According to property records, Spade bought the home in 2005 for $9.3 million, so luckily he is walking away with a profit.
The La Costa Beach home, like many coveted Pacific Coast Highway residences, sits right on the beach with access to a sandy shoreline and endless water views. A typical California layout seamlessly moving between indoor and outdoor spaces is evident throughout the home, with doors leading from living rooms to several patios.
Measuring 3,763 square feet, the home has 4 beds, 3.5 baths, 4 fireplaces and an outdoor pool. According to the listing, architectural details include a Shaker cylindrical staircase, vaulted ceilings, new hardwood floors and countertops.
Like most comedic actors, Spade got his start on “Saturday Night Live” before moving to films and an Emmy-nominated role on “Just Shoot Me.” He still owns a home in Beverly Hills.