July 17--The Bob and Dolores Hope estate in Toluca Lake is now priced at $12 million -- nearly half of the previous $23 million asking price and $15.5 million less than what it came on the market for in 2013.
The English Traditional-style house on about three acres was designed by Robert Finkelhor and built for the Hopes in 1939. In the mid-1950s, architect to the stars John Elgin Woolf was commissioned to remodel and update the home in a more contemporary style.
Hidden from the street behind fences and privacy hedges, the compound centers on a 14,876-square-foot main house with grand formal areas, a billiards room, a library and five bedrooms, including a master wing.
Other structures include a two-bedroom guesthouse and separate staff quarters and offices. There are eight bedrooms and eight bathrooms.
Two floors of living take in landscaped grounds containing a swimming pool, a one-hole golf course, mature trees, rose gardens and a large expanse of grass. An indoor swimming pool and spa sits adjacent to the guesthouse.
The adjustment is in similar fashion to the price cut that the Bob and Dolores Hope estate in Palm Springs saw in December. The John Lautner-designed estate on 6.2 acres in Coachella Valley saw its price reduced to $24.999 million -- less than half the $50 million originally asked.
Bob Hope, who died in 2003 at 100, had a prolific career as a comic actor, singer and dancer, appearing in scores of films that included the "Road" series with Bing Crosby. He won five honorary Academy Awards and one humanitarian award. His wife, Dolores, died four years ago at 102.
Craig Strong of John Aaroe Group is the listing agent.
