Ellen DeGeneres Takes an 'L' In Condo Sale

12/28/2017 10:43 AM PST

Ellen DeGeneres Takes a Loss in Condo Sale

EXCLUSIVE

Ellen DeGeneres just unloaded her second condo in a posh L.A. building, but the sale offers more proof that condos are the red-headed stepchildren in the Southern California housing market.

Ellen sold half a floor in the Beverly West condo complex in West L.A.  She's pocketing $5,850,000 which sounds great, but here's the rub. She owned the entire floor, and she previously sold the other half for $6 million.

Real estate sources tell TMZ she bought the floor for $13 million, so after commissions and renovations ... she's underwater.

Ellen, who's repped by real estate guru Kurt Rappaport, still has a swanky home in Beverly Hills.  She buys and sells lots of property and usually turns a big profit, so this is all part of the game. 

And TMZ broke the story ... she bought a second home in Montecito, CA for $7.2 mil and she's Oprah's neighbor.