Just as he has introduced another snag in the sale of the Los Angeles Clippers, Donald Sterling has introduced another one of his many properties to the L.A. rental market.
Sterling, who vowed to continue pursuing his $1-billion lawsuit against the NBA this week, has listed a Spanish-style home in Beverly Hills for rent at $15,500 a month. The property, owned in a trust associated with the embattled businessman, is one of more than 160 single and multifamily dwellings that constitute Sterling’s real estate holdings in Southern California.
The home, built in 1921, occupies more than a third of an acre with a 3,315-square-foot main residence, a guesthouse, a pool and a spa. Interiors feature exposed-beam ceilings, French doors, hardwood built-ins and flooring and a varying color scheme. Clad in blue paint, the kitchen has a center island and stainless steel appliances. The living room, which sports a magenta hue, has a wet bar.
The detached guesthouse has one bedroom, one bath, an office and a fireplace.
Records show that Sterling purchased the property for $3.99 million in April 2013. Michael Libow of Coldwell Banker is the listing agent.
Last month, Sterling added another Los Angeles home to his real estate portfolio when he paid $5.16 million for a Spanish-style estate in Beverly Hills. He traditionally employs a buy-and-hold strategy for his real estate investments, the majority of which have become rental properties, and has properties dating to the 1960s.
Sterling, 80, continues to waffle over the sale of the Clippers to former Microsoft CEO Steve Ballmer, who agreed to buy the NBA franchise from his estranged wife and co-owner of the team, Shelly Sterling, for $2 billion in May.