Gwyneth Paltrow's New Real Estate Purchase Is Fit For Italian Royalty

Who knew that an Italian getaway was sitting as close as Santa Barbara, CA? Gwyneth Paltrow snagged a $4.9 million Venice-inspired home in sunny SoCal that could easily be mistaken for a Venetian palace. With ocean views and gorgeously groomed gardens, the 5,022-square-foot estate is fit for Italian royalty. Not only will the Oscar-winning actress and founder of lifestyle brand Goop be able to enjoy her four-bedroom, four-bathroom home with 20-foot skylights and high ceilings, but it also includes the three-bedroom, three-and-a-half-bathroom property next door.

Although the listing mentions that the home will be quite a fixer-upper, the long lap pool, multiple terraces, and floor-to-ceiling windows are completely worth the renovation from the looks of it. The large living room is ideal for entertaining and the 2.5 acres of greenery aren't too shabby either. According to Trulia, Gwyneth already has a $14 million home about an hour's drive away in Malibu, CA; a $10 million estate in Los Angeles; and more properties in London and New York. Talk about life goals.

To get a glimpse at her most recent real estate purchase, look ahead for a virtual house tour.