This $1.5 million-a-month rental is the most expensive in America—take a look inside

A $180 million mega-mansion in Los Angeles is now available to rent — for a mind-blowing $1.5 million a month.

Exterior of 908 Bel Air Road

Compass

But will anyone actually pay $1.5 million a month to rent this place?

"For the type of property it is – we think it is priced appropriately," says listing agent Tyrone McKillen of Compass. While McKillen admits the $1.5 million asking price is "beyond the typical rental rate," he says the property is "one of the best" out there.

"Even at this asking price, we've had many showings," he tells CNBC.

L.A.-based real estate agent Aaron Kirman, who has sold more than $6 billion in real estate over his career, is more skeptical.

Bedroom

Compass

Kirman points out that leases with such the nose-bleed asking prices like this one are typically negotiable.

Bathroom

Compass

"Even if they can afford it, a very limited number of people will pay $1.5 million a month for a rental property — even billionaires," Kirman tells CNBC. "I think the number [it will rent for] is closer to $600,000 to $700,000 a month."

According to the MLS, a database for real estate brokers that tracks sales and rentals, the most expensive rental listing in Los Angeles ever recorded was back in April 2017 for a nine-bedroom, 12-bathroom Bel Air residence that went for $445,000 a month.

For comparison, the median home value in America is $226,800 according to Zillow, which means one month's rent at the $1.5 million asking price on the Bel Air mansion is enough to buy almost seven more average homes.

Donna Dotan | The Corcoran Group

The six-bedroom, six-bath listing on Manhattan's Upper East Side is represented by The Corcoran Group and takes up the entire 39th floor of The Pierre Hotel on Fifth Avenue.

Donna Dotan | The Corcoran Group

While the owner of the Bel Air estate waits for the right billionaire buyer, Kirman says making it available to rent is great way to generate significant income and pay the bills.

In fact, Kirman says it's a trend that's not only happening in Los Angeles — but in other luxury markets throughout the U.S.

"Why not have your home produce money for you?" he says.

CNBC's Ray Parisi is the senior executive producer of special projects. CNBC's Christopher DiLella is a segment producer of special projects.

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from Top News & Analysis https://cnb.cx/2Wl0PZs