Buying and selling of real estate is quite common among NFL players. It’s kind of a part of their careers. For the same, former QB1 for the Kansas City Chiefs, Alex Smith, had made the headlines a little while ago. Apparently, he had sold his Washington area mansion for a cool $5.8 million back in 2021, making roughly $2,000,000 in profits. However, the sale came after he made a sizeable price cut of nearly $1 million on the property.
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Smith had originally acquired the mansion back in 2018. It was around the time when he was traded to the Washington Football Team by the Chiefs. However, once his retirement sat in, the veteran QB decided to part ways with his D.C. area mansion. Now, Smith resides in California.
Alex Smith’s Washington Mansion
NFL players are always getting traded and have accepted that it’s part of the job. That’s why we see a lot of players buying and selling houses after chasing cities. Similar was the case with Alex Smith when he decided to sell his mansion in Washington. If we see the sale from a financial perspective, then the savvy move by the former Washington Football Team QB made a lot of sense.
Once a QB1 for the Kansas City Chiefs, Smith sold his spacious mansion in McLean, Washington for $5.8 million. Apparently, Smith wanted to get rid of this beautiful property not because it was proving to be a burden, but because he had decided to permanently shift bases.
Coming to the 6165-foot-mansion as per Realtor.com– it is one hell of a property spread over 2 acres. The mansion has five bedrooms and five-and-a-half bathrooms. It also boasts a line of features that’ll certainly make you want to live in it. These include a large swimming pool, multiple patios, and an outdoor shower and fireplace. The mansion also has a climate-controlled wine cellar and a spacious four-car garage. Alex Smith surely knew how to live a life in grand style.
Smith Eventually Made a Profit
Former NFL QB Alex Smith originally listed the property for $6.75 million back in June 2021. However, he didn’t see customers lining up to buy his property. Due to a lack of interest, Smith had to cut down on the asking price by $1,000,000. It proved to be the right call as he still made a profit on the sale and ended up getting rid of extra real estate.
It’s evident that Smith didn’t quite reach his desired asking price. Even still, the sale of the mansion represents a significant return on his investment. Property records reveal that the mansion was last sold in 2018 for $3.895 million. However, despite the haircut on the original price, Smith appears to have made a profit of around $2,000,000.
