A $3 million price chop might help Bette Davis’ former Laguna Beach home finally sell.
Canadian investment manager Richard Wernham has put the 5,472-square-foot home at 1991 Ocean Way on the market for $16.995 million, according to Dirt.
Wernham first put the home up for sale in April with an asking price of $19.995 million. The house was then re-listed in July for $18.995 million.
The oceanfront mansion, built in 1929, was added to the National Register of Historic Places in 1982. Being a historic home, the property comes with a 10-year Mills Act contract that allows homeowners to receive reduced property taxes in exchange for preserving the home.
The home was originally owned by Charles Prisk, a newspaper mogul who owned the Pasadena Star-News and the Long Beach Press-Telegram.
Davis bought the property in 1947 and lived there for three years, a period of time when her career was in full flourish amid a run that totaled 10 nominations for Academy Awards in the Best Actress category, with two wins. The letter “D” still appears on a stained-glass crest and on a chimney, according to John Cain of Pacific Sotheby’s International Realty, who has the listing.
Wernham bought the property for $13.5 million in 2004.
The home has been updated with modern rooms, including eight bedrooms, a wine cellar and a mirrored gym.
The former Davis property is not the only home in the prestigious coastal city to see price reductions in recent months.
This month, a 1998-built home in Laguna Beach sold for $37.5 million after it was first put on the market in July for $48.9 million, in what was the third-priciest deal across Orange County this year.
The post Bette Davis’ former Laguna Beach manse sees $3M price chop appeared first on The Real Deal Los Angeles.
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