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Rambo Takes to the Rockies

March 08, 1992|RUTH RYON | TIMES STAFF WRITER

SYLVESTER STALLONE, who stars as a daredevil policeman in the just-released "Stop! or My Mom Will Shoot," has sold his 23-acre Hidden Valley ranch for $4 million in cash, and he heads a partnership that has purchased 160 acres in Telluride, Colo., for about $8.5 million.

Stallone's personal fortune, made mostly from his "Rocky" and "Rambo" films, has been estimated at $100-million-plus.

Shortly before buying the Colorado acreage, he bought 11 lots on a ski run at Telluride at an average price of $334,000 a lot, sources say. He also has optioned a 20-acre parcel. In the 160-acre purchase, actors Tom Cruise and Jack Nicholson are believed to be among Stallone's partners.

Stallone had owned his Hidden Valley property, known as the White Eagle Ranch, for five years. When he purchased it, there was only a six-stall barn and a two-bedroom cottage on the site.

He added another barn for a total of 29 horse stalls and a 7,500-square-foot "log cabin," with a marble floor, jade fireplace, indoor waterfall and one bedroom occupying the entire second floor. He also built a 2,200-square-foot guest house, two swimming pools, a four-car garage, guard house, gaucho housing, workout ring, horse Jacuzzi and lighted polo field.

The ranch was listed for sale in 1990 at $7.95 million and was later reduced to $5.7 million. The buyers--described as "wealthy people from outside the area" who were represented by Prudential Realty, Woodland Hills--made their offer in late February, and the deal closed escrow in a few days, sources said.

Stallone sold the ranch, "because he was shifting his interests and not utilizing the polo ponies," said Joanie Young, who represented Stallone along with Richard Young through Joan Young Co., Westlake Village. Another source said that Stallone was encouraged to refrain from playing polo under the terms of a five-year contract to produce and direct films.

"I think he's still a great lover of horses," Joan Young added, "but he moved a lot of his horses last year to his ranch in Maryland."

Stallone also had a polo field in Kauai, but two of its three 25-acre parcels have gone into escrow, at about $1.7 million each, and the third parcel is for sale at $1 million through Harrington's Paradise Properties in Hanalei.

The actor is maintaining his homes on Anini Beach, in Kauai, and in Malibu and the Beverly Hills area. He was remodeling the Beverly Hills-area house when its roof collapsed, sources say, and he has been home shopping on the Westside since then.

DEBBIE REYNOLDS, who co-starred in January with Suzanne Pleshette in the CBS movie "Battling for Baby," and her husband, shopping center developer Richard Hamlett, have put their Holmby Hills lot on the market at $2.45 million.

"We were going to build on it, but then we decided to retire to Las Vegas, where our actual home is, and then we both got busy. We have mixed emotions about selling it," Hamlett said.

Reynolds, who has starred on stage and in such film classics as "Singin' in the Rain" and "The Unsinkable Molly Brown," opens at the Dunes in Las Vegas on March 24.

The couple's Holmby Hills lot is on a half acre across the street from late movie mogul Jack Warner's former estate, now owned by record producer David Geffen. The lot is listed with Sandy Strick, Jon Douglas Co., Westwood, and Sonny Fox, in the firm's Sherman Oaks office.

MARILYN MONROE'S Brentwood home, where she died, is for sale, through a private party, at $2.3 million.

The five-bedroom, 1920s' hacienda has a pool, spa, sun room, heated tile floors, guest house and terraced orange grove.

"It's a tiny house but very charming," an area broker said.

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