Cage makes profit on California home

Eighteen months after he bought a beachfront home in Venice, California, Nicolas Cage has sold it for a €722,000 profit.

The Oscar-winning actor, who was married and divorced from Lisa Marie Presley while he owned the house, only occupied it for about eight months, according to estate agents.

Recently he had been leasing it out for €36,100 a month.

Cage, 39, who has two other homes in the Los Angeles area as well as several hundred acres of land in Malibu, bought the three-bedroom home with a master suite overlooking the ocean and a sceening room opening onto the beach, early in 2002 for €2.6m.

He sold it for €3.325m, reports the Los Angeles Times.