Kevin Garnett is finally cashing in on his Malibu mansion.
Garnett bought a Malibu, Calif. beach property in 2003 for $6.4 million. He has been trying to sell the place for the last three years and finally found a buyer for the low, low, very affordable price of $16 million.
The home likely lasted on the market for so long because it is incomplete.
Kevin Garnett has sold his half-finished Malibu mansion for $16 million.
A six-bedroom villa previously sat on the 7-acre property, but Garnett never finished the 11,000-sq-ft home he decided to build in 2013.
He paid $6.4 million for the property in 2003.
(h/t @jflem94) pic.twitter.com/FhqY0MD9oo
— Joe Pompliano (@JoePompliano) July 6, 2021
The LA Times’ Jack Flemming says the house comes with plans, permits and approval. That will help the buyer complete the home in their personal taste.
On the whole, the house spans three parcels and over seven acres close to the Pacific Ocean.
KG was seeking nearly $20 million for the home but settled for $16 million.
