A Billionaire Snags Bob Hope’s Former Estate After Nearly Six Years on the Market

After nearly six years on the market, Bob Hope’s former Toluca Lake estate just found itself a new inhabitant. Supermarket mogul Ron Burkle reportedly dropped $15 million on the 5.2-acre property in hopes to preserve it. As mandated by Dolores Hope’s will, all proceeds of the final sale will go to the Bob & Dolores Hope Foundation, an organization that provides various means of support to those in need.

According to Curbed LA, the original asking price for the lot was a cool $27.5 million in 2013, but without any takers the listing took multiple hits. With the emergence of Burkle’s offer, it seems hope is no longer lost for the tailored property.

The 15,000-square-foot home, listed by Craig Strong of Pacific Union LA, exudes an aura of sophistication. Traditional in design, the eight-bedroom estate makes way for an abundance of indoor and outdoor entertaining areas. The main house gives way to a guesthouse, pool and putting green that will ensure Burkle’s time remains occupied in his new residence.