In the first month of last year, real estate gurus Ellen DeGeneres and Portia de Rossi purchased this Bali-inspired estate in Montecito. The couple dropped $27 million on the sprawling, single-story structure, which sits on a lot that measures nearly ten acres. But the duo loves a well-timed flip, and back onto the market goes the 10,674 square-footer, listed at a shadow under $40 million.

The property is a generous slice of Montecito, and the landscape designers apparently had a marvelous time creating the estate’s outdoor living style. The much-used real estate marketing buzzword ‘parklike’ applies here, and the effect is augmented by the home’s position neighboring the Toro Canyon Park and within sight of the Buell Reservoir; the Santa Ynez Mountains and ocean views make for dramatic backdrops.

Within the grounds one can spot diverse flora, with tropical, subtropical, and desert represented. Walking paths traverse the 3-parcel lot, and the acreage allows for a long list of amenities without impinging on the intoxicating sense of space; a generously proportioned guest house, cabana, pickleball court, and koi pond are featured.

Inside the home, the DeGeneres/de Rossi collective revised and renovated. Noticeable changes include a new chandelier in the loft-like shared living space and the vanishing of the stainless in the kitchen. The home’s warm, culturally diverse design sensibility remains, though, and this is still one of the more engaging recent builds—the house dates to 2011—that we’ve seen in Montecito.

Long-running daytime television fare The Ellen DeGeneres Show is currently in its 18th season. DeGeneres’ net worth is reportedly north of $300 million.