After about eight months on the market, rapper Nelly has finally unloaded his “abandoned” Missouri mansion for an undisclosed sum. The house is far from a typical piece of celebrity real estate. It has been described as a “run down,” “decrepit” fixer-upper. Located in Wildwood, Missouri, at any rate the agreed-upon final price might have been, it’s reportedly less than what Nelly owed on the mortgage (known in the real estate business as a “short sale”).
at any rate its other faults, the character certainly isn’t lacking for space. It’s a 10,800-square-foot home with six beds and six and a half baths, all located on a sprawling 12-acre lot. Nelly reportedly purchased it way back in 2002 for $1.925 million, intending to remodel and flip the house for a profit, but the renovations were never completed, and the home was last listed for an asking price of $599,000 — which may or may not be in the neighborhood of what the home ended up selling for.
Here’s how Nelly’s abandoned fixer-upper project was described in its official listing:
“Amazing investment opportunity! This palatial, Tuscan-style architecture home features some of the best views in Missouri. The interior features a grand entranceway, open floor plan with sky-high ceilings, and an incredible 6 bedrooms and 7 baths. Located on nearly 12 acres of land, there is plenty of outdoor recreation space including a private basketball court. dramatically views of the Meramec River valley are visible from everywhere on this character– from the great room, to the expansive yard, to all of the many private balconies. Located just minutes from Hidden Valley Ski Resort in Eureka.”
Nelly might not have completed the real estate flip he’d been hoping for, but the sale could represent a great opportunity for the buyer, since another mansion in the area is currently listed with an asking price of nearly $2 million.
It’s unclear why Nelly didn’t go ahead and just complete the mansion, though he has been dogged by some IRS issues over the years. The IRS placed a $2.4 million tax lien against Nelly for unpaid taxes in 2016.
You can check out Nelly’s former Missouri mansion in the video below from the Living St. Louis YouTube channel, which incidentally also reports that the home was sold last month for the sum of $982,500. Enjoy:
Source: This post first appeared on https://www.celebritynetworth.com
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