Former U.S. Secretary of State Condoleezza Rice has just sold her Palo Alto, California, home for $2.3 million, according to property records and Redfin.
While slightly below the $2.35 million asking price, she has still made a respectable profit on the modest light blue-painted property, which comes with a guest house and was marketed as a renovation opportunity.
According to Santa Clara property records and Zillow, Ms. Rice bought the two-bedroom, one-bathroom property, which is close to Stanford University, where she is a professor, in 1998 for $550,000 with documentary filmmaker Randy Bean and a third investor.
The latter, listed on property records as Coit D. Blacker (also a professor at Stanford University), later sold his interests in the home to the two women.
When she originally purchased the house, Ms. Rice, now 62, was Stanford’s Provost—the institution’s chief budget and academic officer.
She left Stanford to become President George W. Bush’s National Security Advisor in 2001 and was subsequently appointed secretary of state in 2005.
After her tenure in the White House ended, she returned to her old stomping grounds to take up another professorship at Stanford.
Monica Corman, the listing agent at Alain Pinel Realtors, declined to comment. A spokesperson for Stanford University did not respond immediately to request for comment.
CLICK HERE TO READ MORE ABOUT SAN FRANCISCO REAL ESTATE:
Follow Mansion Global:Facebook | Twitter | Instagram | LinkedIn | Messenger
Write to us: email@example.com