Pat Riley lists two Malibu beach homes for rent
Continuing what has become somewhat of an annual event for the Miami Heat president and Lakers coaching great, Pat Riley has listed two beachfront homes in Malibu for lease at $18,500 a month and $16,500 a month.
Offered furnished, the bungalow-style residences reside in the same private enclave in Broad Beach with sweeping views of the coastline and ocean.
The more expensive of the two rentals, built in 1963, features a two-story floor plan with skylights and plank wood finishes throughout. The 1,386 square feet of living space includes an open kitchen, a living room with a fireplace, an office, three bedrooms and two bathrooms.
The other house, built in 1939, sports an updated kitchen, a living room, a dining room, four bedrooms and 3.5 bathrooms in 2,788 square feet of living space.
Both residences feature ocean-facing patios off the main living areas.
Riley purchased the more expensive rental in 1989 for $1.6 million and the other in 2000 for $2.5 million. In previous years, particularly during the summer months, Riley has asked as much as $35,000 a month to lease one of the beachfront properties.
He also owns a third home on the same street, which he purchased in 2007 for $7 million.
Bruce Mibach of Coldwell Banker Residential Brokerage Malibu Colony holds the listing for both homes.
The 69-year-old basketball executive racked up six NBA titles with the Lakers, four of which came as head coach during the “Showtime” era. He’s also added two more rings to his collection during his tenure as president of the Miami Heat.
Twitter: @NJLeitereg
