Richard Saghian, a prominent figure in the Southern California real estate scene, is renowned for his penchant for acquiring ultra-luxurious properties. In 2022, the founder and CEO of the fashion empire Fashion Nova made headlines when he purchased The One, an opulent megamansion in Bel Air, for a staggering $141 million at auction. Less than a year later, despite already owning a Malibu beachfront property, Saghian indulged in another high-profile purchase—a $40 million, all-cash deal for an even grander estate on the prestigious Carbon Beach. Now, Saghian is offering his first Malibu residence, situated on the coveted La Costa Beach, for rent at an eye-watering $59,000 per month.
A view of the rear of the property.
This four-bedroom, four-bathroom sanctuary spans nearly 3,800 square feet of fully furnished living space, spread across two levels. The coastal haven offers ample room for any discerning billionaire to unwind in ultimate comfort and sophistication. Saghian acquired the property in the spring of 2021 from Netflix co-CEO Ted Sarandos and his wife, Nicole Avant, for just over $14.7 million—$4.5 million more than what Sarandos and Avant had paid comedian David Spade in 2013. The estate is nestled behind a two-car garage and a gated entrance, leading into a serene brick courtyard adorned with a stone Buddha fountain and vibrant bougainvillea. The outdoor area also features a dark-bottom plunge pool and a cabana with a built-in bar.
The quarter-acre property is centered around a brick courtyard hosting a dark-bottom plunge pool.
An interior brick courtyard hosts a black-bottom lap pool.
Stairs from the rear deck descend to 60 feet of shoreline on La Costa Beach.
Originally constructed in 1996, this Mediterranean-inspired villa underwent a lavish renovation under Spade’s ownership, boasting dark hardwood floors, soaring ceilings, and multiple sets of arched French doors that open to an expansive oceanside deck, perfect for al fresco entertaining. The main level includes a spacious living and dining area with a fireplace, a cozy family room accessible via steps, and an adjacent kitchen outfitted with top-tier Viking appliances and a breakfast bar. A skylit staircase leads to the upper level, where the primary suite, complete with a fireplace, private balcony, separate den/office, and a spa-like bathroom featuring a luxurious soaking tub, offers an unparalleled retreat.
The glass-lined living and dining area steps up to a cozy family room.
The combination living and dining room is warmed by a fireplace.
Steps in the living area lead up to a family room.
The dining area.
A partially glassed-in alfresco dining spot can be found on an oceanside balcony off the living room.
The listing, which requires a one-time security deposit of $118,000, is represented by Branden Williams and Rayni Williams of The Beverly Hills Estates, along with Stuart Vetterick of Westside Estate Agency.
A small yet stylish kitchen comes with an eat-in peninsula and Viking appliances.
A sky-lit staircase heads upstairs.
The fireside primary suite has a private balcony.
The primary bath is spotlighted by a large oval soaking tub.
There’s also a separate den/office.
The front entrance is flanked by a stone buddha fountain and flowering bougainvillea.
The cabana has a seated bar.