LOS ANGELES _ Warren Buffett is ready to cash in a nearly five-decade-old investment.
The 86-year-old business magnate has listed an ocean-view home in Laguna Beach for sale at $11 million. That's quite a markup from the $150,000 Buffett paid for the property in 1971, property records show.
The multilevel home, built in 1936 and remodeled during Buffett's ownership, sits on a corner lot and has a view of Emerald Bay.
The 3,588 square feet of white-walled living space includes a family room with a fireplace, a dining room area, a skylight-topped kitchen, five bedrooms and seven bathrooms. Two of the bedrooms were designed for entertaining guests and have separate entrances.
Walls of glass and ocean-facing decks extend the living space outdoors. A pair of garages can accommodate three cars.
Buffett is the chairman and largest shareholder of conglomerate holding company Berkshire Hathaway. The Omaha-based investor reportedly has a net worth of nearly $74 billion, making him among the richest individuals in the world.
