There are tons of lavish properties in the hills of Los Angeles, including a listing that is one of the most expensive homes in the country
, and now another legendary residence has hit to market. As a treasured historic LA property, Owlwood Estate does not come cheap or even reasonable. Asking $115 million, this crème de la crème abode requires deep pockets.The current owner is not a person, but a disgraced investment firm called Woodbridge Group that has been in the news for running a Ponzi scheme
. In 2017, they listed the home for an even more staggering $180 million, but after filing for bankruptcy and getting charged for their wrong-doings, the dissolved firm has been humbled. They now owe investors and the government millions for their deceit, so a quick sale would probably be in everyone’s best interest, hence the major price cut.This strange owner drama is just a smidgen of the property’s long history. Built in 1936 and designed by the renowned Robert D. Farquhar, the gorgeous 12,201-square-foot mansion is an Italian Renaissance style beauty. It once was on four acres and now boasts almost 10, including a pool with a pool house and a tennis court. Located right next to Sunset Boulevard, the luxurious property offers gated privacy with still tons to do around you.There are 9 bedrooms, 10 bathrooms, and plenty of preserved original details. Owning this magical estate is like owning a little piece of history, as it has a long story that will only continue to grow.Tomer Fridman and Sally Forster Jones of Compass have the listing
, which Variety
first reported is for sale.