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Billionaire Warren Buffett sees a healthy return from sale of Laguna Beach home

Billionaire Warren Buffett sees a healthy return from sale of Laguna Beach home
Billionaire Warren Buffett has sold his Laguna Beach home for $7.5 million, or $7.35 million more than he paid for the property in 1971. (Nati Harnik / Associated Press)

The Oracle of Omaha has struck again.

Warren Buffett has sold his longtime home in Laguna Beach for $7.5 million, according to a spokesperson connected to the listing. Despite a sizable $3.1-million price chop during the sale process, that’s a hefty return for the billionaire investor, who paid $150,000 for the property in 1971.

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The multilevel home, built in 1936 and since remodeled, takes in ocean views from its corner lot in the Emerald Bay area.

The home has nearly 3,600 square feet of white-walled living space, a family room with a fireplace, a formal dining room and a skylight-topped kitchen. There are two en suite bedrooms, each with separate entrances.

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Sliding glass doors open on three levels to ocean-facing decks and terraces.

There are two garages that combine to offer space for three cars.

Buffett is the chairman, chief executive and largest shareholder of the conglomerate holding company Berkshire Hathaway. The Omaha-based investor reportedly has a net worth in the tens of billions, making him among the richest individuals in the world.

The property originally hit the market in February 2017 for $11 million. In August, based on 29 sales, the median sale price for single-family homes in Laguna Beach was $1.838 million, according to CoreLogic.

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Bill Dolby of Villa Real Estate was the listing agent.

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