Tish Cyrus Picks Up Fixer Upper Next Door

Kate Hudson did it back in 2011 and Reese Witherspoon did it a few years later. Rihanna did it and so did Jeff Bezos and Elton John. Megan Ellison has done it several times. Adele did it before she dumped $58 million on Sylvester Stallone’s humongous mansion, Kevin Hart did it last year, and Neil Diamond did it just a few weeks ago.

And now, Tish Cyrus, mother of Miley and soon-to-be-ex-wife of Billy Ray, has scooped up house next door to her gated estate in L.A.’s Toluca Lake neighborhood. To seal-the-deal for the midcentury fixer upper, Cyrus ponied up $50,000 more than the $2.6 million asking price, according to tax records and other online resources.

Built in 1960, the single-story residence, with three bedrooms and three bathrooms in 2,300 square feet, is no great shakes as it currently exists. However, beyond the exotic bird cage-like courtyard entry gates there are still some notable midcentury touches here and there: peg-and-groove floorboards; floor-to-ceiling stone fireplace that divides the living and dining rooms; and what would appear to be a vintage Zircon-style Malm wood-burning stove set into a tiled niche in a corner of the family room area just off the dated eat-in kitchen.

Spread over two parcels that total more than a third of an acre, the pancake-flat grounds include a pergola-covered patio, a lava-stone fire pit, and a swimming pool sent against privacy hedges, fruit trees and dense foliage. Presumably, the house will be radically redone or razed entirely and the land incorporated into Tish’s estate next door.

The property was listed with Stephen Hampar of Hampar Properties; Cyrus was represented in the deal by The Agency’s Kevin Dees and Sebastian Slader, the latter the progency of actor James Spader.

The property is bounded on two sides by Cyrus’s current estate, which also borders the old Bob Hope estate that supermarket billionaire Ron Burkle has on the market for $29 million. A sprawling and thoroughly updated 1930s Spanish hacienda on almost an acre, the house was originally purchased by Miley in 2009 for $3.4 million. Ownership was transferred to Tish and Billy Ray in late 2012 and, just a couple months ago, Billy Ray quit-claimed the property to Tish.

In other Cyrus family real estate news, Miley has recently unloaded her 33.5-acre Nashville ranch in an off-market deal valued at $14.5 million to a Dairy Queen mogul.