Miley Cyrus sells Panama City beach house, gets richer by $1.9 million

Looks like pop star Miley Cyrus is also a young real estate mogul.

Cyrus reportedly sold her Panama City (aka Redneck Riviera) beach house and may have walked away with a tidy 6% profit, reports the New York Daily News.

According to The Real Estalker, the posh pad sold this week for $1.96 million . Cyrus reportedly bought the place for $1.8 million last year.

The condo has five bedrooms, two fireplaces and 240 feet of private beachfront, the blog reports.

According to Seventeen magazine, the 18-year-old reportedly also owns a $6.2 million L.A. home - a Mediterranean-style estate with five bedrooms, lots of closet space and, of course, room to entertain the whole family.