Beverly House Now a Rental for $600,000 a Month
A $115 million price tag is a strong figure to swallow; $600,000 may be a little more palatable, or so the owner of the Beverly House is hoping. The legendary property, once owned by publishing magnate William Randolph Hearst and actress Marion Davies, has returned to the market, this time as a rental.
The home is still available for purchase, and with today’s current mortgage rates, as well as a 20 percent down payment on a 30-year mortgage, the monthly payment would be $526,751. Although that figure is a little less than the rent, it doesn’t include the cost of property upkeep, which on a 3.7-acre compound could be rather steep.
Situated behind the city’s “longest private driveway,” the property at 1011 N Beverly Dr, Beverly Hills, CA 90210 has a storied history. Built in 1927 for banking executive Milton Getz, the home was later purchased by Davies in 1946 for Hearst, who moved from his estate at San Simeon and spent the final years of his life at the Beverly House.
In the 1950s, John F. Kennedy and Jacqueline Kennedy honeymooned at the home. Later, the house was used as the set for both “The Godfather” and “The Bodyguard.”
The home is currently owned by attorney and investor Leonard M. Ross, who filed for bankruptcy in 2010, according to the L.A. Times. Ross has owned the home for more than 30 years and during his time as owner added an additional 20,000 square feet and completely refurbished the property. Ross has attempted to sell the home several times over the past few years: In 2007 it was priced at a whopping $165 million, and in 2010 the price was dropped to $95 million. The most recent price listed on the website for Hilton & Hyland, the brokerage that holds the listing, is $115 million.
Perched above the Beverly Hills Hotel, right in the heart of 90210, the Beverly House is a H-shaped home that combines both Italian and Spanish influence in its architecture. Grand and ornate, the home features a 50-foot entry hall, 22-foot-high ceilings in the living room and a two-story library with hand-carved wood detailing. The residence also includes a billiard room, double master bedrooms, guest suites, staff accommodations and a gym with massage and spa facilities. The grounds, originally landscaped by Paul Thiene, begin with a two-story gate house, lighted tennis court with indoor bar and media center, several guesthouses and separate security housing.