Buying a tenanted investment property removes much of the stress about vacancy periods and cash flow, but there’s always the niggling feeling that you’d like to know your new tenant’s credentials a little better. There’s no such problem with this notorious property.
The infamous Playboy Mansion is up for sale, but it comes with a catch.
Long-time occupant Hugh Hefner will remain in the residence until his passing as a condition of the sale, according to media reports this week.
Listed for US$200 million, the ageing property, located in Los Angeles, is said to be in desperate need of renovations – much like Hef himself, one could say.
The mansion is set to hit the market next month, according to entertainment news site TMZ.
Only time will reveal the full detail's of Hefner's occupancy requirements, and whether it has an impact on the asking price!
The Playboy Mansion is up for sale. Image source: Getty Images via Domain.com.au