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Tyra Banks pays $4.7 million for Malibu fixer-upper

Though a bit outdated, the model’s new property offers breathtaking views of the Pacific Ocean

By Architectural Digest US | February 20, 2021 | Category

After conquering the runway, reality TV, and business school, Tyra Banks has set her sights on real estate. She’s already well on her way to becoming a mogul in that realm as well, as evidenced by the several Southern California homes the Dancing With the Stars host has flipped in recent years.

Her latest acquisition is a Malibu beach house desperately in need of an update, which she recently purchased for nearly $4.72 million, Dirt reports.

The home’s 4,089 square feet include four bedrooms and four bathrooms spread across three stories. In contrast to some other waterfront homes in the area that boast private beach access, Banks’s new property juts out over the Pacific Ocean on stilts, offering unobstructed views of the horizon line from its two broad balconies and rooftop deck.

The space is centered around a double-height, Saltillo-tiled atrium, which brings in plenty of natural light through a large skylight and a line of large windows just under the ceiling. Through an archway and a step down from the atrium is a cozy living room that opens onto a balcony patio overlooking the water. Meanwhile, a few steps up from the atrium are a formal dining room, also with ocean views, and a kitchen with attached breakfast nook.

Banks will have her work cut out for her: It appears as if the home has been only rarely updated, if at all, since it was built in 1982. The kitchen, for example, features white-tiled counters and backsplash, simple oak cabinets, and outdated appliances, and the bathrooms are outfitted in similar dark-grouted tiles and basic cabinetry and hardware.

If anyone can revamp the property, though, it’s Banks. In the past few years, she’s purchased a handful of multimillion-dollar homes in the Pacific Palisades region of L.A., including a four-bedroom residence built in 1949 that she purchased for about $3 million in the summer of 2019, with plans to convert it into a farmhouse-inspired beach cottage.