By Cristin Zweig
Pamela Anderson, the iconic sex symbol who etched herself into the American psyche by donning the famous red "Baywatch" swimsuit, is slightly underwater when it comes to her finances. For months and months, the blonde bombshell has been plagued with negative news stories about unpaid taxes
and out-of-control spending on her home remodel
. And despite being a household name, Anderson is now doing what any other American in her situation must do: downsize!
Anderson often rented out her longtime Malibu Colony home, but now the California property that was once her sanctuary is a money pit, and she's officially put it on the market for $7.75 million
. Property records show that she purchased the Malibu home on Dec. 29, 2000, for $1.8 million. There's no telling how much Pam poured into the ocean-view home's construction and multiple remodels over the years, but with the listing price almost $6 million more than what she paid for it, here's hoping that she'll make a profit so that she can put her financial woes behind her.
Pam's amazing home is within walking distance from all things Malibu
. Finely crafted, the teak-sided home is perfect for enjoying quiet beach days, while still being close to the action. According to listing information, you "enter through the front Barb Wire stone gate, cross the small courtyard of olive trees and lavender, push open the ultra-wide swinging glass door, and find yourself in an open living room and kitchen design with a top-of-the-line home theater and black baby grand piano." Philip Vertoch was the home's architect, and Josh Chryssanthou and Pamela Anderson herself are responsible for the design.
See the listing for more details.
Find more homes for sale in Malibu, or search listings in your area.
This article was originally published on Trulia's Luxe Living blog.
See also: Watch the Bay From Pamela Anderson's Rental
Pamela Anderson Sues Ex for Not Giving Her Condo
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