Sharon Osbourne is facing financial pressures related to the couple's former Los Angeles estate, a year after the death of her husband, Black Sabbath frontman Ozzy Osbourne. The Hancock Park mansion, which served as the family's American base, remains on the market and has seen its rental price significantly reduced.
Initially listed for sale at $17 million, the seven-bedroom, 11-bathroom property was later offered for rent at $65,000 per month. This figure has since been lowered by $10,000 to $55,000 per month, with potential tenants required to provide a $195,000 security deposit. The property, purchased by the Osbournes in 2015 for $11.85 million, is saddled with three home loans totaling approximately $18.85 million. These loans, with the last one taken out in June 2020, result in monthly repayments of around $82,000, in addition to property taxes and insurance.
Despite these financial obligations, Ozzy Osbourne reportedly left his wife and family an estate valued at $220 million. The rock icon passed away at age 76 after a long battle with Parkinson's disease, a diagnosis he publicly shared in 2020.
Real Estate Efforts
The sprawling 11,565-square-foot mansion in Hancock Park features numerous amenities, including a mosaic-tiled swimming pool, outdoor dining area with a pizza oven, and a guest house. The home, originally designed in 1929 by architect A.K. Kellogg, has undergone careful restoration to blend historical architecture with modern luxury. The listing highlights a chef's kitchen, a screening room, four spacious ensuite bedrooms upstairs, and a primary suite with dual bathrooms and dressing areas. An elevator provides access to all levels, and a self-contained apartment is situated above the garage. Viewings are restricted to "pre-qualified clients" only.
The Osbournes had initially put the property on the market four years ago for $18 million as they planned to return to England full-time, partly to manage Ozzy's Parkinson's disease and due to concerns about California's tax rates. The couple had also sought and received approval for extensive modifications to their Grade II-listed home in Buckinghamshire, England, which included additions such as a pool house, orangery, and a health and welfare studio.
In addition to the Hancock Park estate, Sharon Osbourne also listed a one-bedroom apartment in the Sierra Towers high-rise in West Hollywood for $2.4 million in November of the previous year. This unit eventually sold in April for $2.1 million, representing a $300,000 reduction from the asking price. The Osbournes had acquired this apartment in March 2022 for $2.25 million.