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Look Around Gwyneth Paltrow's New Spread in Montecito

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The actress just dropped $4.9 million on a couple of teardowns built in the late '80s

Uh oh, looks like Gwyneth Paltrow's alleged legions of internet trolls have something new to get riled up about. According to Trulia, a mere two years after blowing $14 million on a "lesser [John] Lautner" house in Malibu, the Oscar-winning (and Razzie-nominated) actress has shelled out $4.9 million for a sizable spread in Santa Barbara County's ritzy enclave of Montecito that is apparently ready to be cleared and redeveloped: "being sold as VACANT LAND with two existing residential structures," says one listing. Approvals ready for the construction of two new houses, says the other.

Per the listing, the ocean-view property consists of two parcels encompassing about 2.4 acres total, with each parcel containing one existing residence built in the dreaded late '80s. Not that it matters, since the listing copy makes it clear they're both goners, but one of the doomed houses is a four-bedroom, four-bath joint with ugly tile floors, plus a fabulous swimming pool and lovely gardens, while the other is a three-bedroom, three-and-a-half-bath pad that did not rate any photos in the listing.