Leonardo DiCaprio Buys Malibu's Paradise Cove Property from Donald Trump's Cabinet Pick

MALIBU, CA -- Oscar-winning actor Leonardo DiCaprio is continuing to be quite a real estate wheeler and dealer. The actor has reportedly bought an undeveloped property in Malibu's exclusive enclave, Paradise Cove, for $23 million, according to Realtor.com.

The previous owner of the property was none other than billionaire Vinnie Viola, president-elect Donald Trump's pick for Secretary of the Army. Viola doubled his investment in the sale. He bought the property from director Ridley Scott for $11 million in 2006, according to Realtor.com.

Viola briefly tried to sell the property in 2012 for $15 million but got no takers.

Other than a small cottage, the property, which clings to the edge of a cliff, is largely undeveloped and neighbors include producer Mark Burnett and actress Courteney Cox.

DiCaprio bought the property through his shell company, Jinpar 1031 at the end of November, according to the deed. The address listed for Jinpar 1031 is the same as his production company, Appian Way.

DiCaprio is not done shuffling his real estate portfolio. He is still trying to sell a remodeled beach house on Malibu’s Carbon Beach for $11 million.

For more on this, visit Realtor.com.

Photo courtesy of RatPac Documentary Films