Miami Heat star Tyler Johnson has just signed a new four-year $50 million contract which will set him up for life. However, it seems that the new Pinecrest property he bought with his fiancee just last year is too big for the couple and he is looking to flip the property for a $430,000 profit. Originally bought for $4.82 million it is now on the market for $5.25 million with little in the way of renovations to account for the price increase.
Situated at 9700 W. Suburban Drive, Pinecrest, this is a Mediterranean style mansion with 9476 ft.² of living space. You will probably not be surprised to learn it also has six bedrooms with eight bathrooms and two half bathrooms. It seems that originally Tyler Johnson and his fiancee had planned to live there with his mother and brother although they have now made alternative arrangements. The couple believes the property is too big for just two people and they are making mysterious plans to acquire another property elsewhere.
This house seems to have a habit of making a profit having been acquired by the previous owner for $2.9 million in 2007 and sold on to Tyler Johnson for $4.82 million just last year.
A glimpse inside the property
Before you even enter the property you will see the array of tiled areas, marble finishes and perfectly manicured gardens. This is not your stereotypical large mansion, it is a real mansion which looks the part and offers everything you could ever think of.
The kitchen seems to go on forever and is decorated in a light and welcoming cream colour. It has the stereotypical kitchen island, more than enough storage space and the latest in kitchen equipment. This kitchen is probably larger than the average living room!
Entertainment and media rooms
Tyler Johnson is a star who has an extremely busy life away from the basketball court as well as earning his $50 million four-year contract! So, it will be no surprise to learn he has both entertainment and media rooms where he can work and relax. When you bear a mind the size of the mansion it must be very easy to hide away – oh, there is also a theatre room.
A swimming pool is a must for those long hot summer days when you want to chill out and cool down. There is also a poolside cabana where you can hide away from the often brutal summer heat but if you want to work up a sweat try the half basketball court. Yes, despite the fact that Tyler Johnson spends his working life on the basketball court he also has one at home.
Flipping his property
A potential 9% return on an acquisition last August is something that Tyler Johnson would be crazy to turn down if he is able to obtain his asking price. We also believe that the price takes in an array of inventory which will be left for the buyer – top of the range equipment. So, while the best laid plans of mice and men can change it seems that Tyler Johnson and his fiancee could come out of this tricky situation with a healthy profit of over $400,000. Even for somebody earning $50 million over a four-year contract this is still more than just pocket change.