For almost 2 years, no one wanted to buy Warren Buffett's Southern California vacation home, but it finally sold for $7.5 million

• Warren Buffett's Laguna Beach, California, home has sold for $7.5 million.
• He first listed the beach house for $11 million in early 2017. In August, he reduced the price by more than $3 million to $7.9 million.
• Buffett purchased the home for just $150,000 in 1971, which is less than $1 million in today's dollars.

Warren Buffett's Laguna Beach, California, home has finally sold for about $7.5 million, according to representatives of Villa Real Estate. Buffett first listed the property for sale in early 2017.

In August, Buffett cut the $11 million asking price by more than $3 million, reported the Orange County Register.

The Berkshire Hathaway CEO has owned the home since 1971, when he purchased it for $150,000. That's about $934,000 in today's dollars. He's since renovated the place, which has six bedrooms and more than 3,500 square feet of living space.

The billionaire investor had primarily used it as a beach retreat for his family, but they reportedly hadn't used it much since his first wife, Susan, died in 2004.

Let's take a tour of Buffett's beach-town home.

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Buffett's longtime vacation home is located in the affluent beachside community of Laguna Beach, in Orange County, California.

It's part of a gated community called Emerald Bay and is just a short walk from the beach.

The beaches here are stunning, with high cliffs.