This Ocean-View Mansion In Malibu Is Selling For A Jaw-Dropping Price

Paradise Cove is the perfect setting for an oceanfront villa on the south-facing cliffs overlooking the Pacific Ocean in Malibu, California. B. Wayne Hughes, the billionaire founder of Public Storage, the largest brand of self-storage services in the U.S., bought the 3.5-acre estate about 19 years ago. He passed away in August 2021, and his daughter is selling the estate with a price tag of $127,500,000, per The Real Deal. There's something very inviting about the eight-bedroom, 12-and-a-half bathroom stone mansion, which is edged along the cliff by a curved, stone balustrade much like mansions in Newport, Rhode Island. 

The two-level balconies that surround the house make it clear that this house was built for people to enjoy outdoor dining and gazing out at the ocean, which makes the size of the residence feel less formal than one would typically think about with a mansion of over 10,698 square feet of living space, including staff quarters, and two guest suites, according to Realtor. A separate, one-bedroom guest house has three bathrooms, a living room, and a large vaulted room used as a gym, dance, and yoga studio.

A winding path allows the owners to drive a golf cart down to the private beach, which has approximately 210 feet of ocean frontage, relates The Real Deal. As you drive up to the gated entrance, a tennis court is hidden behind tall, privacy fencing and massive plantings. The driveway ends with a circular paver area in front of the three-car garage. The majestic main house is raised on a massive patio, two steps up from the driveway. 

The angles of the smooth-stoned house are softened by the large, domed cupula which rises above the foyer, as well as the terra cotta roof tiles and the container plants on both levels of the surrounding patios. The Santa Monica Mountains rise up as a backdrop until you move around to the ocean side of the property. The meticulously maintained semi-circle of lawn extends to the edge of the fence-lined cliffs and includes a view of the coastline and both the sunsets and sunrises. 

Oversized glass pocket doors recess into the walls around the estate, opening up fabulous indoor-outdoor living rooms, per Realtor, perfectly suited for the southern California climate and the type of entertaining space that a home of this size might require. Massive stone columns support the second-floor balconies, while the overhangs are lined with wood, coffered ceilings in some areas, and traditional style loggias over the outdoor dining areas. 

The second floor of the home has four-bedroom suites. In fact, the massive expanses of dressing rooms and closets and the enormous, spa-like bathrooms are what draws attention to the unique expectations of a mansion owner of this type of property. The lavish size of the center-raised bathtub and the glass-enclosed room-sized shower of the primary suite looks straight out to the ocean when the pocket doors are opened fully. A dressing room outfitted with drawers, cabinetry, shelves, and a 360-degree mirror is the perfect place to consider how you will ever choose just one outfit. 

The main floor has a formal foyer, living room, dining room, tiered screening room, and a white, gourmet kitchen with multiple workstations, as well as an eat-in space that can accommodate 10 people, per Realtor. Here, the pocket doors slide back and open to a second dining table that can seat another 14 people. All of this is viewed with the gorgeous turquoise-blue color of the ocean in the background. It goes without saying that this is a gourmet kitchen that could cater large meals and events without feeling crowded.

The rooms throughout the mansion have extremely tall ceilings adding to the grandeur of the space. Recessed lights, chandeliers, and crown molding add finishing touches without calling attention to themselves. Many of the entertainment and living spaces in this house have gorgeous, wide-plank natural wood floors in a warm, pecan color. Rumor has it, according to The Real Deal, that both this mansion and a similarly priced mansion for sale next door could lead a particular buyer to snap up both and combine them with two others he's purchased in the last few years. This would create one of the largest single-owner compounds in Malibu.