Warren Buffett paid $150,000 for this O.C. home. Now he’s asking $11 million

Warren Buffett is ready to cash in a nearly 5-decade-old investment.

The 86-year-old business magnate has listed an ocean-view home in Laguna Beach for sale at $11 million. That’s quite a markup from the $150,000 Buffett paid for the property in 1971, property records show.

The multilevel home, built in 1936 and remodeled during Buffett’s ownership, sits on a corner lot and has a view of Emerald Bay.

The 3,588 square feet of white-walled living space includes a family room with a fireplace, a dining room area, a skylight-topped kitchen, five bedrooms and seven bathrooms. Two of the bedrooms were designed for entertaining guests and have separate entrances.

Walls of glass and ocean-facing decks extend the living space outdoors. A pair of garages can accommodate three cars.

Bill Dolby of Villa Real Estate is the listing agent.

Buffett is the chairman and largest shareholder of conglomerate holding company Berkshire Hathaway. The Omaha-based investor reportedly has a net worth of nearly $74 billion, making him among the richest individuals in the world.

‘Modern’ star makes a deal for traditional

Actor Eric Stonestreet of “Modern Family” fame has sold a home in the Studio City area for $1.1 million, or $1,000 over the asking price.

The traditional-style cottage, built in 1948, has a brick-lined walkway that leads up to the black-painted front door. Vertical white siding and…

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