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James Franco Sells LA Compound

Michael Hein

11/21/2017

Entertainment isn't the only industry where James Franco excels. The Oscar-nominated actor made a killing this week when he sold a two-bungalow compound in Los Angeles' Silver Lake neighborhood for $1.35 million — almost half a million dollars over the asking price.

The property is a unique, Spanish-style residence high up on a hill. Though the listing boasts about many authentic features that remain intact, Franco and his real estate broker somehow managed to make a huge profit off the sale.

Franco bought the compound in in the summer of 2012 for a reported $775,000. Less than two months ago, he listed it for sale starting at $949,000. Now, just a few weeks later, he's walking away with almost double the asking price.

It's not clear whether Franco ever lived in the property himself for an extended period of time, though the listing does make it sound like the kind of place you'd picture an eccentric guy like Franco. The smaller bungalow features a one-car garage, a full eat-in kitchen, living room, and bedroom. A long outdoor stairway leads to the second structure.

The larger bungalow has three stories stacked above a two-car port. It has a full kitchen, living room, dining room, two bathrooms, a bedroom, and the top floor functions as an office or studio. From there, you can see over the treetops and clear across to the Silver Lake reservoir and the Griffith Observatory.

This isn't the first time Franco has dipped his toe into the waters of house-flipping. In 2006, he got his hands on an old villa for $2.35 million. When he sold it four years later, it went for $3.3 million -- about a million dollars more than he paid.

Franco may play a lot of goofy characters when he's with Seth Rogen, but the actor's reputation for being a secret genius has some basis in reality.

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