Michelle Stafford, who plays the character of Phyllis on the Young and the Restless, has gotten a little restless herself. She has just listed her Los Angeles mansion, located in the Los Feliz area, for sale for $2,499,000.
Sounds like mega bucks, right? Well, unfortunately for the soap star, she is listing the mansion, called “Chateau Marmont,” at a loss. According to public records, she paid $2,525,000 for the property in 2007. As she has made a hobby of restoring homes, she has invested some dollars in bringing the gorgeous Mediterranean revival home back to it’s once former splendor, equating to even more money out of pocket for the soap star....
However, there is a real estate marketing strategy in Los Angeles where sometimes homes are listed below market in order to generate multiple bids and perhaps a bidding war. Before all is said and done, Stafford may not be selling the property at a loss after all.
Time will tell.
But according to Zillow.com, median home prices in the Hollywood Hills (of which Los Feliz is adjacent) have dropped 7.3% year over year.
It does sound like Stafford has done an amazing job restoring this Mediterranean revival, however. The house was built in 1933. It is over 4500 square feet, has a three-car garage and features many period details like stained-glass windows and ceiling beams that are painted with decorative touches. According to the Los Angeles Times, the entry rotunda is replicated in the lower level guest suite and leads to a terrace. The master suite, one of four bedrooms, has a round walk-in closet. The five bathrooms feature custom tile work.
This is Stafford’s second real estate listing in two years. In 2009, she listed a 3-bedroom, 2832 square foot Spanish home, also in the Los Feliz area, for $1,599,000. She purchased that home in 2004 for $1,325,000. According to reports, she tried to rent that home in 2008 asking $6,200 per month, but decided then to sell in 2009.
Stafford joined the Young and the Restless in 1994 and converted a minor role into a major character presence. She has won a Daytime Emmy two times for her work on the soap.
Have a few extra bucks around? Want to buy Stafford’s Mediterranean home and live like a soap star? Contact Andrew Manning of Prudential California Realty, Sherman Oaks, or Stephanie Vitacco, Coldwell Banker, Woodland Hills, the listing agents.
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