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David Hyde Pierce

Flips L.A. Mansion

For MASSIVE Profit

8/15/2012 12:10 AM PDT BY TMZ STAFF
EXCLUSIVE

0806_david_hyde_pierce_house_launch
Take note, Michael Phelps -- "Frasier" star David Hyde Pierce knows how to play the real estate market ... because the actor just dumped his massive L.A. mansion for nearly DOUBLE what he paid.

Sources tell TMZ, Pierce listed the gated 8,184 sq. ft. Los Feliz home back in April for $7.5 million -- and it sold July 31st for $7,050,000. We're told it was the highest-priced sale in the neighborhood in recent memory.

But that's not the craziest part -- Pierce purchased the 7-bedroom 8.5-bathroom home back in 2003 ... for a mere $3,625,000 ... meaning he nearly doubled his investment in 9 years.

Frasier would be proud.

17 COMMENTS

No Avatar

1.

LDB    

Its a shame like this whenever celebrities buy big beautiful homes like this goes to waste with no one hardly living there

798 days ago
2.

News Flash     

Beautiful

798 days ago
3.

thegreatamericandesertreturns    

tens years into his dream house and millions of dollar spent he bails out without a safetynet and huge capital gains taxes.throffie house wife and car gota go no J.O.B bail

798 days ago
4.

jsb1117    

NIne years is not a flip, can't you find something to make a real story

798 days ago
5.

LiLo's boy toy    

That's a very nice house.

798 days ago
6.

Gretel    

I don't know if I'd buy it but at least it has a bit of warmth to it. Most of those celeb mansions look cold as ice. Although I could spend a few days in that kitchen for sure.

798 days ago
7.

stu    

That's a compound for Christ sakes.
Was he & his bf the only ones living there?

798 days ago
8.

MjR    

Thats a unfair comparison. Phelps bought his place in Fells Point during the housing boom not before like Pierce did. Many that bought during the boom are having issues just breaking even.

798 days ago
9.

StoopidHead    

Holding a home for 9 years isn't flipping. it's called buying a place to live in for 9 years.

798 days ago
10.

Canadasux    

Now THAT'S a Hollywood star's house! I'm really surprised he bought for under $4 million.

798 days ago
11.

jokerchick    

beautiful home, kitchen aside

798 days ago
12.

Tiffany    

this is one of the most beautiful and beautifully decorated homes I have seen. Curious as to how much of a profit he actually made with upgrades, etc.

798 days ago
13.

Straight Talkin Texan    

Beautiful! That house has GREAT architectural details.

798 days ago
14.

NoBozo    

Los Feliz homes are beautiful period architecture. But then Pierce also sunk millions into improvements because no period house ever looked like that. That's redesign. Like to see the interior.

798 days ago
15.

South Beach    

He probably would have made the same profit margin if he's sold in 2006, before the bust. He bought it in 2003, to double one's $$ in 9 years isn't really a big deal in the CA market given the year he bought. I did it in 2 years there.Supply and demand.

798 days ago

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