Ellen DeGeneres Flips Montecito Home Months After Buying it, Earns Hefty Profit

According to Variety

, Ellen DeGeneres and wife Portia de Rossi purchased this estate in Montecito, California, for $7.195 million in the fall of 2017. Months later, they reportedly flipped the home for a reported $11 million in an off-market deal, winding up with a tidy profit of $3.8 million for the 6,764-square-foot estate dubbed Rancho San Leandro. According to local real estate scuttlebutt, the buyer is Tinder founder Sean Rad.

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According to the original listing, the 4-bedroom, 4.5-bath estate rests on a “gently rising slope, with glorious views that extend from the Santa Ynez mountains across the Montecito Valley to the shimmering Pacific.”

Rancho San Leandro consists of several structures, including a 2,751-square foot, historical adobe structure dating from the mid-1800s. The property also includes a three–car garage and a two-story, 3,635-square-foot guest house.

“When I started making money, I bought a house and fixed it up, then moved on to the next one. Designing is my hobby. If I didn’t do what I do for a living – at some point when I don’t do this for a living – I’ll probably just do design work,” DeGeneres told Good Housekeeping in a 2011 interview.

Sitting on approximately six acres of prime Montecito property (celebrities who own homes nearby include Drew Barrymore, Rob Lowe, Sir Patrick Stewart and Oprah Winfrey, who lives right next door!), other features on the lush estate include olive groves, rose gardens, private courtyards, professional-quality equestrian facilities and a four-stall horse barn.

The historic main home is highlighted by the awe-inspiring 50-foot-long open-concept living and dining room, boasting matching fireplaces at either end and featuring a soaring exposed-beam vaulted ceiling.

The other end of the combination living/dining room area, showcasing the vastness of the space.

The adobe-style guest house features polished terra cotta floors and colourful Mexican tiles adorning the distinctive staircase, with a cozy sitting area surrounding a wood-burning fireplace.

Despite its 3,600-square-foot size, the guesthouse offers an array of cozy areas such as this dining room, with a wood stove offering warmth on cool evenings.

A large covered porch overlooks the equestrian area while offering a spectacular view to the vista beyond.

The home is ideal for an equestrian, including facilities for riding and grooming, as well as this four-stall horse barn.

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Windows surround the spacious kitchen to let the California sunlight flood in.

The kitchen is rustic and welcoming yet completely modern, with the inward-opening windows showcasing the spectacular view.

One of the estate’s many bathrooms, this one features a deep soaker tub.

This second-storey bedroom offers access to a wraparound veranda via double French doors.

An expansive courtyard paved with rustic cobblestones surrounds a central fountain that separates the low-slung main residence from the other structures on the property.

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This bedroom in the guest house has its own entrance, accessing the outdoor courtyard.

An adobe-style fireplace in the corner of this bedroom is just one of the lovely heritage features of this historic estate.

With the high vaulted ceilings and exposed wood beams, the wood-burning fireplace and dark wood window trim, the heritage beauty of the home shines through in this magnificent bedroom.