David Spade’s Former Malibu Home Is Up for Rent at $59,000 Per Month
Richard Saghian has long been active on the SoCal real estate scene, where he’s known for investing in ultra-luxe properties. Back in 2022, the founder and CEO of the apparel juggernaut Fashion Nova famously doled out $141 million at auction for The One megamansion in the Bel Air neighborhood of Los Angeles. Less than a year later, though he already owned an oceanfront residence in Malibu, he splashed out another $40 million in an all-cash deal for a larger home along ritzy Carbon Beach. Now he’s hoisted his first Malibu home, this one on coveted La Costa Beach, on the rental market, asking a hefty $59,000 per month.
With four bedrooms and an equal number of baths spread across almost 3,800 square feet of fully furnished living space on two levels, the coastal spread offers more than enough room for any like-minded billionaire to relax in complete comfort and style. Saghian purchased the property from Netflix co-CEO Ted Sarandos and his wife Nicole Avant in spring 2021 for a speck over $14.7 million in cash, which is $4.5 million more than the couple paid comedian and actor David Spade for the place in 2013.
More from Robb Report
Designer and TV Host Gray Benko Sold Her Colorful South Carolina Cottage in Just 3 Days
This $25 Million Lake Tahoe Lodge Is the Ultimate Year-Round Mountain Retreat
The Beverly Hills Home of Hasbro's Late CEO Hits the Market for $27 Million
RELATED: ‘Dumb and Dumber’ Producer Brad Krevoy Lists His Ocean-View Malibu Estate for $8.5 Million
Saghian’s newly listed rental is secured from bustling Pacific Coast Highway behind a two-car garage and a gated entry that opens into a brick courtyard accented by a stone Buddha fountain and flowering bougainvillea plants. There’s also a dark-bottom plunge pool and a cabana that’s equipped with a seated bar. Originally built in 1996, the Mediterranean-influenced villa underwent an extensive renovation during Spade’s ownership, complete with dark hardwood floors, high ceilings, and multiple sets of arched glass French doors spilling out to an expansive oceanside deck ideal for alfresco lounging and entertaining.
RELATED: Inside a $10 Million Malibu Beach House That Feels Like You’re Floating on the Ocean
Main-level highlights include a combined living and dining area with a fireplace and steps leading up to a cozy family room, as well as an adjacent kitchen outfitted with top-tier Viking appliances and a breakfast bar. A sky-lit staircase heads upstairs, where a fireside primary suite boasts a balcony, a separate den/office, and a spa-inspired bath spotlighted by a large oval soaking tub.
The rental listing, which includes a onetime $118,000 security deposit, is held by Branden Williams and Rayni Williams of The Beverly Hills Estates and Stuart Vetterick of Westside Estate Agency.
Click here for more photos of the La Costa Beach residence.
Best of Robb Report
Sign up for RobbReports's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
