Ashlee Has a $5 Million Mansion? Not Anymore!

12/4/2006 2:58 PM PST

Ashlee Has a $5 Million Mansion? Not Anymore!

For Ashlee Simpson, one hit single and one very famous big sister isn't enough to hang on to a $5 million house.

Ashlee just flipped her house for a crazy $5.7 million, netting herself a tidy $1.2 million profit in the process, according to the Los Angeles Times Hot Property column. The Encino mansion has a 700-square-foot closet (bigger than most NYC apartments) with its own washer and dryer.