Murphy sells LA home for $4 million; takes $2 million loss

Jet, March 13, 1995

Eddie Murphy recently took a $2 million-loss on a Moroccan style estate in Los Angeles he bought from Cher six years ago.

He paid $6.3 million when he bought the property from Cher but only got a $4 million return on his investment when he recently sold it, according to news accounts.

The place included furnishings bought from Cher, the Los Angeles Times reported, quoting an unidentified source as saying the house didn't suit Murphy's three children.

The 4-acre, 10,000-square-foot home in Benedict Canyon has six bedrooms, 10 fireplaces, a gym and a projection room. Murphy has homes in New Jersey and upstate New York.