Priscilla Presley Sells Mansion For $3.8 Million To Bail Out Broke Lisa Marie
May 30 2019, Updated 10:14 p.m. ET
Priscilla Presley sold her L.A. Mansion for $3.8 million after she put it on the market to bail out her debt-riddled, drug-challenged daughter Lisa Marie.
Elvis Presley’s ex-wife was “willing to do anything,” to save their only child, a source close to her exclusively told RadarOnline.com.
The sale of the Brentwood area home brought in a huge cash windfall for the daughter who was in a legal battle with her divorce and financial woes.
As RadarOnline.com previously reported, Lisa Marie has claimed that her business manager squandered her famous father’s $100 million fortune and she was left virtually penniless in the process.
Her mother, who never lived in the 1950s style ranch home, put the place on the market for $3.6 million but earned a whopping $200,000 more in the final deal, according to Variety.
Priscilla purchased the home for $170,000 in 1976, three years after she divorced Elvis.
Her daughter’s financial troubles have been exposed by RadarOnline.com in numerous court documents as she claimed she had only $14,000 to her name following years of money trickery at the hands of her previous management team.
Desperate Priscilla put the home on the market in early May 2019 and it was quickly snatched off the market.
“Priscilla would never have done this if she didn’t believe it was her daughter’s last chance,” her pals spilled to RadarOnline.com.
Priscilla’s mother, Ann Lillian Wagner-Beaulieu, lived in the home that was sold as a “major fixer” in “as-is” condition. It was built in the 1940s and had four bedrooms and three bathrooms in almost 2,500 square feet with a pool in the backyard.
Priscilla lives in a Mediterranean style mansion in Beverly Hills.
Lisa Marie’s money woes were exposed in the multiple lawsuits she was involved in and her contentious divorce from Michael Lockwood, the father of her twin daughters.
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Although Lisa Marie receives about $100,000 per month from the trust that holds Elvis Presley Enterprises, she was not able to easily access the money.
In documents previously obtained by RadarOnline.com, her attorney said that her previous management was to blame for her money troubles.
