Beverly Hills

Trump Property in Beverly Hills Sells for $13.5M

The Trump Organization bought the home for $7 million in 2007

The Trump Organization has quietly sold one of its last two properties in Los Angeles County, a Tudor-style home in Beverly Hills, for $13.5 million in an off-market sale, it was reported Thursday.

The company bought the home for $7 million in 2007, when it was controlled by Trump. It's now run by his two sons. The buyer is a corporate entity called Hillcrest Asia Limited, a subsidiary of Hong Kong-based Allied Properties Limited, according to real estate records cited by the Los Angeles Times.

Built in 1927, the two-story home sits across from the Beverly Hills Hotel and Will Rogers Memorial Park on North Canon Drive. It has five bedrooms and six bathrooms across 5,395 square feet, and the 0.67-acre grounds expand to a hedged lawn and swimming pool out back.

In 2016, Los Angeles County's assessment appeals board valued the estate on North Canon Drive at a little over $6 million.

The corner-lot estate sits at the intersection of Sunset Boulevard, Rodeo Drive and Canon Drive. In addition to frequenting the Beverly Hills Hotel over the years, he previously owned a Greek Revival-inspired mansion on a neighboring lot that he sold in 2009 at an $850,000 loss.

The value of the property on North Canon Drive has been a point of interest over the years. In 2016, Trump's tax attorney Wade E. Norwood argued the home was worth $6 million -- less than half of the price it just sold for.

Following the appeal, the county's assessment board valued the estate at $6.004 million, according to L.A. County records.

As first reported by the Real Deal, the sale of the North Canon Drive home leaves the Trump National Golf Club in Rancho Palos Verdes as Trump's only remaining property in the L.A. area.

Copyright CNS - City News Service
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