Ellen DeGeneres lists 'spare' California estate four months after purchase

While The Ellen Show may be drawing to a close, Ellen DeGeneres and Portia de Rossi are still busy making moves with their other lucrative pastime: buying and selling Southern California real estate.

The comedian and TV host, along with de Rossi, paid $17 million (US$12m) for a gorgeous Montecito property in an off-market deal, before giving the ‘spare’ home a swift cosmetic refresh in their signature relaxed, ‘California cool’ style, according to Dirt.

They’ve now popped it back on the market for $19.5 million (US$13.9m).

If the celebrity pair pull this off, they’ll have manufactured a hefty $2.5 million in equity and potential profit in just four short months.

Located within a discreet and privately gated community in prime Montecito, the three-bedroom, three-full bath (and two half-bath) home is set across a single level with clever floor plan maximising indoor-outdoor flow.

The public areas are centrally located and flanked by two separate bedroom wings, ensuring privacy between the primary and guest suites.

Speaking of the primary (or master) suite, the elegant space has dual walk-in closets and dual showers, one your traditional glass-walled number and the other an alfresco situation, set into a privately walled section of the yard.

Floor-to-ceiling pocket doors lead to a private garden filled with fountains and lush botanicals. Other landscaping includes drought-tolerant natural grasses and olive trees.

There’s also an oversized separate studio that offers flexible space for work-from-home, play, fitness, or guests.

If you’re into having major celebrity neighbours, you’re in luck. The residence sits right next door to Oprah’s 70-acre ‘Promised Land’ estate and is also basically neighbours to DeGeneres’ current main home – the $20 million (US$14.3m) historic Rancho San Leandro complex.

DeGeneres’ love of renovating, design and luxury property is no secret. Along with de Rossi, the pair have garnered a reputation for being two of Hollywood’s most prolific buyers and sellers of multimillion dollar homes in California.

During the 17 years The Ellen Show has aired, the comedian and actor duo has amassed a huge property portfolio worth a reported $630 million (US$450m).

For a look inside her extensive and envy-inducing property portfolio, including her two incredible current homes, click here.