Teddi Jo Mellencamp may be the new kid on the block on the Real Housewives of Beverly Hills, but the statuesque blonde is high-tailing it to another set of hills: the ones in Hollywood. Mellencamp, whose father is famed 80’s crooner John Mellencamp, just dropped $4.07 million on a five-bed, six-bath estate in the Hollywood Hills– and it’s safe to say that it’s no “Little Pink House.” ( That’s a Mellencamp joke, BTW.) But here’s the kicker: she got it for a steal from Hollywood wunderkind Megan Ellison, who bought the home in 2015 for $5.25 million, and originally listed it for $5.495 million.
Teddi’s new modern-style estate is located on a 26,870-square-foot lot above the Sunset Strip. Touting stunning views of the canyons and city lights and continuing all the way to the coastline, the 5240-square-foot property features a true sense of California fluidity, with sprawling rooms that open out to large decks via automatic sliding Fleetwood doors, ideal for entertaining. Constructed with only the best materials, the home has a state-of-the-art Boffi + Foster kitchen, Ipe wood, Italian and Brazilian marble, and walnut wall panels. Amenities include a gym (perfect for Teddi, who works as an “accountability coach”) an office, sparkling swimming pool, and more.
Ellison, who is the daughter of Oracle co-owner and CEO Larry Ellison, is known for producing flicks like Her starring Joaquin Phoenix, and Zero Dark Thirty starring Jessica Chastain. But there’s another connection between the two that’s interesting: Teddi is a former professional equestrian, and Ellison rode competitively as a kid. Was this a friendship that was born in the barn? Anyway, while Megan did sell the home at a big loss, she’s certainly not crying over it: she dropped serious dough on several adjoining properties in the area in the past (the Hollywood Reporter predicted around $33 million) and sold the mansion next door for a huge profit. Teddi, meanwhile, who is now kickin’ round Beverly Hills with co-stars Kyle Richards and Lisa Vanderpump, just sold her uber-contemporary home in Woodland Hills for $1.39 million. Her husband, Edwin Arroyave, bought the home back in 2004 for $899,000, while is not so shabby for a profit.
(images courtesy of Trulia)