MALIBU—The late Lee Bell’s Malibu Colony estate was sold recently for $18.275 million, the second-highest recorded in the community, the Los Angeles Times reported on Monday, July, 13. It originally hit the market in April with an asking price of $21.5 million.
The 3,295 square foot beachside home has four bedrooms and three baths. Bright white walls and floors plaster the living room of the house which features a large window that offers a view of the ocean. Another sitting room with a fireplace also lies in the living area of the home.
Seafoam green floors lay way into the kitchen that holds updated and high-end stainless steel appliances. The breakfast nook nearby, as well as the master bedroom, also host ocean views. A brick walkway and terrace lead through the backyard to the pool that rests just above the sandy beaches. A two-story guest house is also featured in the property’s backyard.
The .29 acre estate was originally built in 1928. The Bell’s purchased the property in 1989 for $4.365 million. The home rests within a gated community consisting of 120-homes, seven of which are considered estates. Malibu Colony also houses notable neighbors, including Tom Hanks and Sting.
Bell came to prominence as a broadcast journalist, hosting the “Lee Phillip Bell Show” for more than 30 years in Chicago. She and her husband, William Joseph Bell, also created and produced the soap operas “The Young and the Restless” and “The Bold and the Beautiful.”
Since her passing in February, the Bell’s luxurious properties throughout Los Angeles have been on the market with high prices. Los Angeles Lakers star LeBron James recently purchased her previously owned Beverly Hills mansion for $39 million.
The agents responsible for the listing were Jeff Hyland and Rick Hilton of Hilton and Hyland.