Ex-Los Angeles Lakers owner Jerry Buss’ custom-built mansion in Rancho Santa Fe, California, recently hit the open market for $11.85 million.
Lakers legends Kobe Bryant, Magic Johnson, and Shaquille O’Neal often made visits. The land was purchased by Dr. Buss in 1994 for less than $300,000.
His house, known as the “Dream Ranch,” was built to his precise specifications to resemble the Rosewood Miramar Beach Resort in Montecito.
Buss, who passed away on Feb. 18, 2013, wanted a home far enough outside of Los Angeles, per TMZ Sports. Rancho Santa Fe is roughly 100 miles from the City of Angels.
Realtor.com
Realtor.com
According to Compass realtor agent Khaki Wennstrom, Buss’ two-story, 9,792-square-foot mansion is located on a 3.18-acre lot. The home features eight bedrooms and 10 bathrooms (8 full, 2 half) — five in the main house and three in the guest house.
Additionally, the primary suite includes walk-in closets, a marble-clad bathroom, and French doors that open out to a rose garden as well. The master suite overlooks a champion tennis court, where Andre Agassi once played.
Of course, the main living spaces feature “10-foot ceilings (at a minimum), an air of openness and grandeur, designed to cater to both intimate family life and the grandest of gatherings,” per the listing description.
Former Los Angeles Lakers owner Jerry Buss’ 9,792-square-foot mansion now for sale for $11.85 million
Furthermore, rich white oak hardwood floors, wood paneling, and hand-selected wallpapers are noticeable throughout the home. The chef’s kitchen is equipped with top-of-the-line appliances.
Buss’ custom-built tandem garage was designed to fit eight cars. He also added an extra-long driveway to accommodate at least 25 cars for visitors.
Plus, he installed two putting greens, a 3-stall barn, four pickleball courts, a state-of-the-art basketball court, and a swimming pool with a pool house.
However, the estimated monthly cost to own the home is $76,958, per Realtor.com. Principal and interest comes to $61,651, property tax is $12,344, and the home insurance runs $2,963. This is all per month.
Realtor.com
Realtor.com
Fortunately, there are no homeowners association (HOA) fees.
The total assessments for the 2022 tax year were $4.77 million, per California Regional Multiple Listing Service (CRMLS). Property taxes came to $52,339. For land, the bill went as high as $2.17 million.
Moreover, other costs to maintain the home totaled $2.6 million.
On March 9, 2022, the former Lakers owner’s home was sold for $5.33 million. It was priced at $628 per sq. ft. The new buyers renovated the home, remodeling it into a modern mansion. In fact, its market value is now $1,210 per sq. ft.
More importantly, the property’s wildfire risk is increasing. During the summer months, that could be a major problem for homes in San Diego County, where more than 7,000 acres were impacted by wildfires this past fall.
Over 7,000 fires burned a total of 323,025 acres (130,724 hectares) last year in California. This fell below the state’s five-year average of 1.72 million acres (696,893 ha) burned during the same period.
