14 years after he put up $4.75 million for its purchase, Eminem has sold off his first mansion.
One year after the great emcee's poor upbringing was depicted in his 2002 movie, 8 Mile, Em bought the two-story, five-bedroom estate from former K-Mart chairman Charles Conway. At the time, the home was situated within radius of Oakland County residents known for having made their fortunes in the auto industry.
Of course, Detroit's auto industry had at that point already significantly declined from the glorious past it enjoyed, and since then the value of property in the neighborhood has only gotten worse. With the $1.9 million sale, Eminem cuts his losses to the tune of $2.85 million.
Although the estate sold for less than half its purchasing price, the value attached to it thanks to Eminem's name cannot be replaced. It also features some pretty decent amenities, including a tennis court, a basketball court, a swimming pool, a cabana, and a 1,500-square-foot entertainment room. A guard's house and a two-story detached guest house also sit on the property.
The Rochester Hills property is located some 30 miles away from the Motor City rapper's old stomping grounds. Prior to moving on up to the mansion life, Em reportedly owned a $1.48 million brock colonial that he was able to buy off of the earnings of the Slim Shady LP. He is said to now own a couple of estates in Michigan.
Source: hotnewhiphop.com
