Nicholas Cage Says He’s a ‘Bit Homeless’ and ‘Living in Hotels’ After Sinkhole Damaged $10.5 Million Malibu Home

Actor Nicolas Cage has been displaced after coastal erosion caused a growing sinkhole in the driveway of his Malibu, CA, home.

"I'm currently a little bit homeless," the "National Treasure" star, 62, said at an Oct. 31 appearance at L.A. Comic Con. "Something happened to my house in Malibu, so I'm just sort of living in hotels so I don't have normal trick-or-treaters I would like to enjoy tonight."

Cage was still in the spooky holiday spirit, noting that he had planned to take his daughter, August, 4, trick-or-treating in Santa Monica later that night.

The devastation comes just two years after Cage snapped up his 4,000-square-foot beachfront home for $10.5 million.

The 30-square-foot sinkhole that first appeared on Cage's property collapsed on Sept. 6, leaving a 900-square-foot sinkhole in its place.

Jonathan Torres, a public information officer with the LACFD, said the collapse likely resulted from coastal erosion. Witnesses at the scene said they could see waves crashing through the hole. Cage was reportedly not at home at the time of the incident.

Cage is not the only famous resident of Sea Level Drive, the exclusive gated community where the disaster took place. Pierce Brosnan, Dustin Hoffman, and Mindy Kaling live in the neighborhood, as well.

Initially, a state of emergency was declared, and the city of Malibu red-tagged seven nearby homes, prohibiting homeowners from accessing the properties. It later red-tagged 24 additional properties in the community, noting that "current road erosion prevents normal ingress and egress to the neighborhood, and would also prevent access or evacuation routes in the event of an emergency."

At the time of the incident, the neighborhood's homeowners association had already begun repairs, which it estimates could take up to five weeks to complete.

The ocean-facing abode, which comes with a secluded beach and a rare roof deck, first came on the market in March 2024 for $11.25 million, according to Realtor.com®. The waterfront residence had also been simultaneously offered for rent for $25,000 a month.

The property comes with a private courtyard and a two-car garage, which is equipped with an elevator. The living room, bathed in natural light, has a vaulted ceiling, a chic bar area, and a fireplace.

Floor-to-ceiling glass walls and sliding doors seamlessly connect the indoor and outdoor spaces.

On the second level is a chef's kitchen with high-end stainless appliances, a center island, and sweeping ocean views.

The third floor features four en suite bedrooms, along with a primary bedroom facing the Pacific Ocean, with a spa-worthy bath, fireplace, and ocean-facing deck.

In addition to the home's beach frontage, the property includes an adjacent beach lot.

Prior to that purchase, Cage faced troubles with an infamous "haunted" mansion in New Orleans' French Quarter.

In 2009, the actor lost the property to foreclosure, and it was subsequently purchased by Regions Bank for $4.5 million.

The following year, the home was sold to an investor for $2.1 million.

Before that March 2024 listing, the property had bounced on and off the market since summer 2022 and had once been offered for as much as $17.9 million.

By comparison, Cage seems to have secured an impressive deal—although, judging by the success of his onscreen endeavor that year, paying the full ask might not have been out of the question for him.

In 2024, the actor and producer appeared in the horror film "Longlegs," which became the "highest grossing independent film of the year," with $100 million at the box office, according to Variety.

The "Face/Off" star is also known to keep a full-time residence in Nevada, the site of his iconic movies "Leaving Las Vegas" and "Honeymoon in Vegas."

Cage has a lengthy real estate history in California.

In fact, he owned a San Francisco Queen Anne Victorian, which he picked up in 1989 and held for 16 years. He sold the property some 20 years ago, but left behind personal touches, including custom stained-glass windows.

Although Cage has seemingly been left without a home in Malibu, he does have property on the East Coast. In March 2026, he reportedly snapped up a sprawling two-bedroom condo in the heart of Manhattan for $6.5 million—and took out a $4.55 million mortgage for the deal.

The actor is said to have purchased the unit in the Essex House Residences building at 160 Central Park South for a steep $1.4 million discount—after the property initially hit the market for $7.9 million.

The home measures 2,400 square feet and is a combination of two units, as first reported by The Real Deal.

The listing described it as offering "an unparalleled blend of elegance, comfort, and convenience, right at the doorstep of Central Park."

Cage will likely feel right at home inside Essex House, which has played host to many famous faces over the years, including the late actor and musician David Bowie and his wife, Iman.

Oasis star Liam Gallagher also purchased a pad in the unit in 2012, selling it two years later.