At long last, Sylvester Stallone has finally found a buyer for his La Quinta desert retreat. The Rocky actor can’t be too thrilled about the final sales price, though, as he’s taking a significant loss on the property.
Stallone accepted a $3.15 million deal for the home, which is far below the $4.5 million he paid for the four-bedroom, 4.5-bathroom Coachella Valley abode in 2010.
Stallone has been trying to sell the Palm Desert home, located in the exclusive Madison Club community, on and off since 2011. After taking a four-year break, he tossed the house back onto the market in May, with a $3.35 million price tag attached. That seems to have done the trick and garnered some interest, even though the final sales price comes to a touch below that.
There are arched doorways and beamed ceilings throughout the Mediterranean-style home. Wood double doors lead into vaulted entryway of the house, which in turn leads to a double height living room with a stone fireplace that occupies nearly an entire wall, per the listing held by Douglas Elliman broker Josh Reef.
The kitchen is equipped with dark wood cabinetry, stone floors, a wood-and-stone center island and a breakfast room. There’s also a more formal dining room, with wood beamed ceilings and doors that lead to the outside terrace.
The master suite is located on the second floor, with a fireplace, large private terrace and a bathroom with a double vanity and built-in tub.
There are multiple terraces, and outside, there’s a built-in barbecue, pool, spa, built-in fire pit and a manmade creek.
Stallone’s main residence is in Los Angeles, where he owns a nearly 20,000-square-foot mansion in Beverly Park. He is leaving behind quite the celebrity-packed neighborhood in La Quinta, though. Cindy Crawford and Rande Gerber paid $5.4 million for a Madison Club home last year, and the Kardashians are big fans of the area, as Kris Jenner, Kylie Jenner and Kim Kardashian and Kanye West all own properties in La Quinta.