The offspring of bonafide rock royalty is all grown up and ready to invest in her first home. Frances Bean Cobain, the daughter of 1990s grunge movement icons Kurt Cobain and Courtney Love, had a rather unorthodox upbringing, but is ready to come into her own.
Frances Bean was less than two years old when her famous father committed suicide at just 27 years of age, joining the ranks of Jimi Hendrix, Janis Joplin and Amy Winehouse, all of whom perished at the same point in their talented lives. While young Frances may not have many memories of dad, Cobain did leave his daughter a tremendous musical and financial legacy.
Kurt Cobain's estate has an estimated value of $450 million, of which his daughter is entitled to 37 percent. That means the 19 year-old is worth $170 million at an age when most kids are just entering college. Frances Bean gained control of her legacy in August of 2010.
According to real estate website Zillow, Ms. Cobain has purchased her first home in West Hollywood, Los Angeles, California, for a price of $1,825,000.
The white stucco, Spanish-style home was built in 1930 by architect Carl Jules Weyl. The four- bedroom, three and a half-bathroom property boasts 3,350 square feet of living space and sits atop a quarter-acre lot.
The home, located a short distance from the trendy Sunset Strip, is awash in art-deco features such as mosaic interlays and decorative ironwork (pictured below). A detached garage was converted to a studio or office space - which is perfect if Frances Bean decides to further the music career she started in 2010, singing on a track with modern rock band My Chemical Romance.
The young star, despite the well publicized troubles of mother Courtney Love, has managed to stay away from the spotlight in large part. This is especially amazing given her uncanny resemblance to her late father. She has done some modeling and is most famous for the acting roles she hasn't accepted. It has been reported that she turned down the high-profile parts of Bella in Twilight and Alice in Tim Burton's Alice in Wonderland.
No matter what career decisions Frances ultimately makes, it's clear that she's a solid real estate investor. She purchased her moderately priced home (by Hollywood standards anyway) for a full $65,000 less than the original asking price.
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Ilyce R. Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.comand The Equifax Personal Finance Blog, and is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.
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