News Summary
A notable 31-acre estate along Mulholland Drive in Beverly Hills has been listed for sale at $15 million. Previously owned by Bruce Willis, this expansive property features a 3,000-square-foot ranch home and significant potential for development. It highlights the scarcity of large undeveloped land in the area, making it an appealing investment for prospective buyers.
Beverly Hills, California – Iconic 31-Acre Mulholland Estate Listed for $15 Million
A sprawling canyon estate located in the Beverly Hills Post Office area has been officially listed for sale at a price of $15 million. This extensive property, comprised of eight parcels totaling 31 acres, is situated along the scenic Mulholland Drive, making it a unique offering in a market where large undeveloped land parcels are increasingly rare.
The estate has a notable history, having been partially owned by actor Bruce Willis since 1987. Willis maintained ownership until 2016 when a trust under his name, along with two additional trusts, facilitated the sale of the entire property portfolio. The estate changed hands in 2021 when it was transferred to Grimm Investments LLC, following the buyer’s struggles that led to looming foreclosure. At that time, Grimm Investments assumed $6.4 million in debt associated with the property.
In 2023, the ownership transitioned again, this time to Hollywood Ridge Holdings, the current seller of the estate. Both Grimm Investments and Hollywood Ridge Holdings are believed to be owned by the same individual, though no comments have been offered regarding the listing from that party.
The estate is being represented by Sotheby’s International Realty, with agents Allen Roth and Lissa Lebel leading the listing effort. A spokesperson from the realty group highlighted the estate’s distinctive appeal due to its vast lands in an area where similar sizable undeveloped properties are scarce.
The sale includes a modest 3,000-square-foot ranch-style home constructed in 1953. This home is positioned on a secluded, tree-covered plateau, offering potential buyers the option to either renovate the existing structure or consider plans for entirely new construction. Renderings of a possible luxurious mansion have been included in the sale materials, illustrating the estate’s potential to prospective buyers.
Bruce Willis, known for his iconic roles in films such as “Die Hard” and “Pulp Fiction”, is currently 70 years old. His historical connection to the estate adds a touch of celebrity glamour to the property, further enhancing its allure in the luxury real estate market.
This listing represents a significant opportunity for buyers interested in acquiring a large undeveloped tract of land in the prestigious Los Angeles area. The vast scale and unique location of the estate, combined with its potential for development, create an appealing investment prospect in an increasingly competitive real estate landscape.
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Additional Resources
- Westside Today
- Mansion Global
- The Real Deal
- TMZ
- New York Post
- Wikipedia: Beverly Hills, California
- Google Search: Beverly Hills real estate
- Encyclopedia Britannica: Beverly Hills
- Google News: Beverly Hills real estate
- Google Scholar: Beverly Hills real estate
