Los Angeles Lakers rookie Lonzo Ball has scored a fixer upper in Chino Hills, California, for $5.2 million.

Mr. Ball, 20, a point guard whom the Lakers chose in the 2017 NBA draft in June, wasted no time burning through his pro-ball windfall—he will make an estimated maximum of $30 million over the next four years. He closed on the rundown mansion in his hometown only two months after the draft, according to property records.

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The three-acre estate centers around a gigantic, 13,800-square-foot villa in need of some TLC, according to the listing with Lori and Richard King of King Realty Group. The brokers did not immediately return request for comment.

The yellow-painted European-style villa, built in 2003, has a number of luxury amenities, such as a home theater, library, staff quarters and a fireplace, but has "fallen into disrepair," according to the listing, which presented only exterior shots. The description of the home, however, points to elaborate interiors that include coffered and cathedral-vaulted ceilings and interior balconies.

The property also comes with a 1,200-square-foot guest house, pool and cabana.

While Mr. Ball might have bought the property as a monstrous, semi-decrepit bachelor pad an hour away from Los Angeles, more likely, the eight-bedroom home is meant for his family, who live in Chino Hills.

He bought the property through a limited liability company titled "Family Always Matters," records show.

Mr. Ball and his outspoken father, LaVar Ball, raised eyebrows earlier this year when the rookie refused contracts with big sportswear brands like Nike or Adidas. Instead, he released his own basketball sneaker through LaVar Ball’s independent apparel company, Big Baller Brand, that costs $500.

The Balls did not immediately return a request for comment.