Ron Burkle has parted ways with one of the most notable properties in his vast real estate portfolio, the former Bob Hope estate in Toluca Lake.
Burkle recently sold the property for $26 million, a price point that makes it one of the most expensive homes to sell in the San Fernando Valley, with many industry experts calling it the priciest home sale ever recorded in the celebrity-favorite neighborhood of Toluca Lake.
When the investor/architecture buff — who also owns Bob Hope’s other iconic house in Palm Springs — bought the property back in 2018, he was looking to restore it and build four to six other homes on the sprawling 5-acre property, Mansion Global reported at the time.
And restore he did.
But he decided to leave the rest of the plans in the hands of the estate’s future owners, listing the property for sale in May 2022, asking a whopping $29 million for Bob Hope’s former house.
Less than a year later, the former celebrity estate has found its new owner, trading hands for a hefty $26 million.
The high-profile sale was mediated by Buying Beverly Hills’ The Agency, whose Estates Division Director Kevin Dees held the listing. Dees also repped the buyer alongside colleague Sebastian Spader, also with The Agency.
The $26 million sale makes it one of the most expensive homes to sell in the San Fernando Valley — and banks a serious eight-figure profit for seller Ron Burkle, who paid $15 million for Bob Hope’s estate in 2018.
Seller Ron Burkle is no stranger to former celebrity abodes
Burkle, who co-founded the investment firm Yucaipa (The Yucaipa Companies, LLC) and has a net worth of well over $2 billion, has long been snapping up iconic celebrity estates and architecturally distinct homes.
But the billionaire seems to be particularly fond of Bob Hope’s former abodes.
And since he’s now parting ways with the comedian’s former Toluca Lake home, we have the perfect excuse to kill a few minutes marveling at the many merits of this spectacular estate.
Bob Hope’s house in Toluca Lake, a true legacy from the Golden Age of Hollywood
The legacy residence, often referred to as the jewel of Toluca Lake, is every bit as grand as you’d expect.
Throughout the years, they kept buying the neighboring lots until the grounds of their estate spanned more than 5 acres.
At the center of it all stood an English traditional-style home designed by architect Richard Finkelhor.
But given Hope’s penchant for architecture, he commissioned John Elgin Woolf — known as the father of the Hollywood Regency style — to redesign the structure. Many of the architectural elements added by Woolf are still present today.
The estate has a total of 10 bedrooms — 6 of which are located in the main house, in addition to the two staff bedrooms plus a two-bedroom apartment — and 17 bathrooms.
Inside, warm wood and stone accents abound, bathed in light by the walls of glass that are present throughout the house’s common living areas.
The open living area includes a stone-clad fireplace (one of six fireplaces in the home) leading to a large dining area that offers ample space for dinner parties.
The kitchen has been heavily modernized and comes with a cozy breakfast nook.
The lucky future owners will also get to enjoy Hope’s original oak library — which has been meticulously preserved over the years.
But there are plenty of other rooms where you can walk in the footsteps of the house’s famous former owner.
Living areas and entertainment rooms abound throughout the property, hinting at the star-studded parties and events that took place here back in the day.
Fitting for a property this size, there are quite a few structures on the grounds of the estate.
An ancillary structure contains a tennis pavilion, commercial kitchen, security office, conference room, and original walk-in fireproof safe.
There’s also a two-bedroom apartment above the garage, along with staff quarters in the courtyard off of the main house.
Naturally, the grounds of the property abound with outdoor amenities.
To name just a few: a saltwater pool, lounge areas to relax with guests, a one-hole golf course designed by Hope himself with two tee positions, a tennis court, and a large barbecue kitchen.
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