Brad Pitt has reportedly made a significant profit on his Los Angeles home by selling it for $39 million after purchasing it nearly 30 years ago for just $1.7 million.
The housing market can be challenging, especially for first-time buyers. With the cost of living steadily increasing, sometimes it can seem almost impossible to own a property.
Those who purchased houses decades ago are reaping the rewards as many properties, especially in sought-after areas, have significantly appreciated in value over the years.
Hollywood actor Brad Pitt, 59, is one of those seeing the benefits as his Los Angeles home has increased in price by over 2000% as he looks to downsize.
As reported by TMZ, Pitt purchased the property nearly three decades ago in 1994 for $1.7 million and has recently sold it for a staggering $39 million.
The home was built in 1910 by an oil baron, and since acquiring the land, the 59-year-old has expanded into adjacent lots to grow the property even further.
TMZ also report that the house was famously the location where Jimi Hendrix wrote the song 'May This Be Love'.
The main house spans over 6,692-square-foot and the property also boasts a swimming pool, a skate park, a movie theatre, a motorcycle garage, and a tennis court... because for $39 million it would seem rude not to involve these things.
Entertainment Tonight reported that the sale was completed "off market" as the actor looks to move into a smaller property.
Pitt lived at the house with his ex-wife Angelina Jolie and their six children Maddox, 21, Pax, 19, Zahara, 18, Shiloh, 16, Vivienne, 14, and Knox, 14, for several years.
The celebrity couple separated in 2016, but the actress explained to Vogue that she didn't want to remove the children from their father by moving far away from their former home, and desired for them to have a good family life. "I wanted it to be close to their dad, who is only five minutes away," Jolie explained.
TMZ reports that Pitt first listed the property for $45 million in January and that it is his intention to move to Carmel in northern California.
Back in October, Jolie made some shocking allegations against her ex-husband as she claimed that he was physically abusive towards her and that he had struck one of their children on their private jet in 2016.
Page Six detailed that Jolie alleged that she signed a non-disclosure agreement which meant she was unable to speak out about the alleged assault.
Court documents revealed detailed allegations previously not known to the public, including that Pitt had apparently "choked" one of their children and "struck another in the face" during a heated incident, The Mirror reported.
"Throughout the long, overnight flight, Pitt was physically and emotionally abusive to Jolie and their children, who were then between the ages of eight and 15," the documents stated.
The documents continued: "When one of the children verbally defended Jolie, Pitt lunged at his own child and Jolie grabbed him from behind to stop him. To get Jolie off his back, Pitt threw himself backwards into the airplane's seats injuring Jolie's back and elbow.
"The children rushed in and all bravely tried to protect each other. Before it was over, Pitt choked one of the children and struck another in the face." Pitt has denied the allegations.
