Russell Peters lists his 1.3-acre Malibu estate for $8.5M after buying it for $4.725M

Photo credit (L-R): Jeff Elson via tmz.com; Russell Peters/ Instagram Comedian Russell Peters is once again putting his Malibu estate on the market, this time asking $8.5 million for the gated property. He bought the roughly 1.3-acre estate in 2014 for $4.725 million and later remodelled its approximately 10,000-square-foot home, transforming it into a sprawling retreat with ocean views, a pool, a theatre and space for entertaining. The property has had a long and uneven journey on the market: it was listed for $11.95 million in 2016, appeared for sale again at lower prices and was rented to tenants for several years. Now, TMZ reports that Peters is seeking a fresh buyer. The latest listing highlights the estate’s scale and amenities, while its history shows how long it can take for even a celebrity home to find the right match.A substantial Malibu retreatPeters’ property sits behind gates on about 1.3 acres in Malibu. According to TMZ, the six-bedroom estate includes ocean views, manicured lawns, a swimming pool and spa, and an outdoor patio designed for gatherings. Its private setting and expansive grounds give the home the feel of a compound rather than a typical coastal residen...