Actor Rick Schroder has paid about $5.5 million to purchase an oceanfront house on the Pacific Coast Highway in Malibu, Calif.

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In a Big Time Listings exclusive, we can report that Schroder, 36, has purchased the completely remodeled, oceanfront house at 20816 Pacific Coast Highway in Malibu. Built in 1975 and situated on about 42 feet of beachfront, Schroder's new, 1,250-square-foot house has two large oceanfront decks, two bedrooms, a steam shower, fountains, and all new appliances, according to listing information. The house was owned in the 1990s by actress Suzanne Somers, who sold it in early 2000--prior to its being renovated--for just $867,000, according to public records.

Check out the house's listing sheets--chock full of photos--here and here.

Over the years, Schroder has owned many other properties, including a 21-acre ranch at 21914 Gold Stone Road in Topanga Canyon, Calif. that they purchased for $4,150,000 in 2005, a house at 680 Hampden Place in Los Angeles' Pacific Palisades neighborhood, which they owned from 1999 until 2001, and a house at 9820 E. Thompson Peak Parkway in Scottsdale, Ariz., which they bought in 2001 for $700,000 and sold in May 2006 for $3.8 million, according to public records. In addition, Schroder also has owned a 15,000-acre ranch in Colorado, which he put on the market for $29 million, and he also has owned several other properties in Arizona as well, according to public records.

The actual purchase price of Schroder's new Malibu beach house has not been revealed, although the house likely sold for close to its $5,499,000 asking price. When the purchase price clears public records in the next few weeks, we'll provide you with the amount that Schroder paid.