Why is Julia Roberts picking up more property in the Point Dume area of Malibu?

Julia Roberts has played an array of different parts in films and TV over the years and is now something of a superstar in Hollywood. The actress turned real estate investor would also seem to have a good head for figures after it was announced that she has acquired yet another property in the Point Dume area of Malibu. At this point in time it is unclear what her long-term plans are but she has certainly spent an awful lot of money increasing her exposure to the region!

Living with the movers and shakers

When you bear in mind that Julia Roberts now has three properties in the Point Dume area of Malibu, where neighbours include Matthew McConaughey, Sean Penn, Chris Martin, Barbara Streisand, Shaun White, Wilson, Bryan Singer, Chris Carter, Anthony Kiedis and Bob Dylan, what is she planning?

About the new property

This new acquisition has three bedrooms and surprisingly for the cost and the area it only has one bathroom. It is believed that the 1620 ft.² property is not necessarily in good shape and will either undergo a serious refurbishment or it could be grazed to the ground and a whole new property built in its place.

It looks as though Julia Roberts has her ear to the ground because there is very little in the way of online literature or images about this new acquisition. We know there are wooden beams in the ceiling of the living room and the kitchen which open out onto a very spacious brick patio area. There is a two car garage and while the backyard is unkempt to say the least, there is one shining light. This property comes with a deeded key to the gates of the Riviera 1 parking lot. This is one of Malibu’s most sought after private beaches and is nigh on inaccessible by the general public without a deeded key. So, is this the reason why Julia Roberts has acquired what many are describing as a downbeat property?

Determined to invest in Point Dume

The first of Julia Roberts Point Dume properties was acquired back in 2003 for $9.5 million. It has been converted into a “rambling craftsman style mansion” which has its own tennis court, swimming pool, exquisite gardens and, this could only happen in celebrity world, a cliff-side yurt!

Property number two took over a year to complete due to a legal battle with the sellers. The 1770 ft.² 1950s ranch style house costs a staggering $6.84 million and is located right across the street from property number one. While this latest $3.895 million investment is nowhere near that spent on previous property purchases it does significantly increase her exposure and influence in the area.

Active investor

This is just one in a long line of real estate investments undertaken by Julia Roberts and her husband Danny Moder. At this moment in time, aside from the properties in Point Dume, they also have exposure to Taos , New Mexico as well as the Hawaiian island of Kauai and New York City. We very much doubt this is the last we have heard of this celebrity investment couple!

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