A 1,200-Square-Foot Malibu Bungalow Sells for $5.21 Million

Actress Natasha Gregson Wagner, daughter of actress Natalie Wood, has sold a 1,200-square-foot bungalow in Malibu, Calif., for $5.21 million.

The beachfront home, which sits in a quiet and coveted section called Malibu Road, has two bedrooms and two bathrooms. The kitchen, dining area and living room are one space, with sliding glass doors that open onto a deck overlooking the beach.

Ms. Gregson Wagner purchased the home in 1996 for $1.2 million, according to public records. According to her broker Richard Ehrlich, she did extensive remodeling on it. He says the home was never officially listed; it was quietly marketed to specific brokers via email.

Ms. Gregson Wagner and her partner, Barry Watson, decided to sell the house because it no longer accommodated their growing family, according to Mr. Ehrlich. The couple recently had a daughter, and Mr. Watson has two children from a prior relationship.

Mr. Ehrlich, vice president of Westside Estate Agency, represented Ms. Gregson Wagner in the sale. Irene Dazzan-Palmer and Sandro Dazzan of Coldwell Banker represented the buyer, who is in the restaurant business in Los Angeles and Las Vegas.