Frances Bean Cobain (WENN.COM file photo)

Late rock icon Kurt Cobain's daughter has bought her first home after inheriting a huge chunk of her father's fortune last year.

Frances Bean Cobain was handed 37 per cent of the Nirvana star's estate when she turned 18 in August last year, and has decided to use her money wisely by investing in property.

The teen, who is estranged from her mother Courtney Love, has bought a $1.8 million home in West Hollywood. The two-storey property sits in a quiet neighbourhood a few minutes away from Sunset Strip, and boasts four bedrooms and three bathrooms.

The purchase comes just weeks after Nirvana's iconic Nevermind album marked its 20th anniversary last month. Frances Bean was close to turning two when her father committed suicide in 1994.

She has lived with her grandmother, Wendy O'Connor, since a bust-up with Love in 2009.