B
en Affleck and Jennifer Lopez's Beverly Hills mansion is on the market for $68 million, but some experts believe it's overpriced and in a poor location. A West Coast real estate investor told NewsNation that the property is worth between $40 and $50 million. The house is located in Wallingford Estates, a gated community without a guard, where most homes are from the 1970s and worth between $5 to $10 million. The mansion is too big and outdated, featuring an indoor sports complex as one of its many amenities.

    The couple bought the sprawling 12-bedroom, 24-bathroom, 5-acre property in 2023 for just over $60.8 million and put it on the market in July, before Lopez even filed for divorce. The house was built in 2001 by a mediocre developer with poor taste in architecture, resulting in a mish-mosh of styles and a faux French roof. When it was first built, it sat on the market for years and was listed at $100 million, leading Affleck and Lopez to believe they got a deal when they bought it for $61 million. However, they also invested millions into renovating it to their tastes.

    The lavish residence boasts a 12-car garage, boxing ring, and pickleball court, but comes with a hefty tax bill of $762,000 per year. Additionally, insurance and maintenance costs add another $750,000 annually, bringing the total cost to at least $1.5 million per year to keep the lights on. The former spouses will also lose at least 10% on the proceeds from the sale of the house due to California mansion tax and realtor fees.

    According to a source, the house is a "big, flawed diamond" that people with significant wealth would rather spend $10 million on a smaller, perfect diamond than $5 million on a large one with visible flaws. Representatives for Affleck and Lopez were contacted for comment.