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Warren Buffett seeks $11 million for Laguna Beach home he bought in 1971

Warren Buffett seeks $11 million for Laguna Beach home he bought in 1971
Billionaire investor Warren Buffett has listed a home in Laguna Beach for $11 million. He bought the house in 1971 for $150,000. (Todd Tankersley | Inset: AP Photo)

Warren Buffett is ready to cash in a nearly five-decade-old investment.

The 86-year-old business magnate has listed an ocean-view home in Laguna Beach for sale at $11 million. That's quite a mark-up from the $150,000 Buffett paid for the property in 1971, property records show.

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The multilevel home, built in 1936 and remodeled during Buffett's ownership, sits on a corner lot and has a view of Emerald Bay.

The 3,588 square feet of white-walled living space includes a family room with a fireplace, a dining room area, a skylight-topped kitchen, five bedrooms and seven bathrooms. Two of the bedrooms were designed for entertaining guests and have separate entrances.

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Walls of glass and ocean-facing decks extend the living space outdoors. A pair of garages can accommodate three cars.

Bill Dolby of Villa Real Estate is the listing agent.

Buffett is the chairman and largest shareholder of conglomerate holding company Berkshire Hathaway. The Omaha-based investor reportedly has a net worth of nearly $74 billion, making him among the richest individuals in the world.

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Twitter: @NJLeitereg

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