First listed in January of last year for $85 million, the price dropped down to $70 million in the summer, then down to $60 million in the fall. And now it’s back on the market with an asking price just shy of its most recent previous listing: $59,995,000.
Whether Franklin will have better luck this time selling the expansive property, known as The Cielo Estate, remains to be seen, but it’s not because the home isn’t an enticing residence. Instead, a source tells TMZ, the property keeps getting taken off the market because various celebrities and other high-rollers want to rent it out for a brief period rather than buy it. The 21,000-square-foot mansion goes for an average of $350,000 a month, and it’s not hard to see why. From the property’s official listing:
“Exuding opulence, this ultra private palatial masterpiece, The Cielo Estate, is set behind large double gates with a stone motor court. Boasting 21,000sf and set on 3.6 acres and showcasing unparalleled luxury in the most desirable zip code in the world, this Andalusian-style estate is in a league of its own. The Cielo Estate is created for exquisite living & entertaining on a grand scale with 9 bedrooms + 18 bathrooms. Enter the residence through the grand front doors into the 2-story foyer with a custom staircase and custom dome ceiling.”
The main house is stacked with amenities like a movie theater, a gym, a spa, a billiards room, and even a hair salon. Then there’s the 75-yard swimming pool, complete with three waterfalls, a 35-foot water slide, a grotto, a lazy river, and a swim-up bar.
Of course, the property’s popularity as an upscale rental might not be the only reason Franklin is having trouble finding a buyer. It’s a lot of house, for one thing, and then there’s the fact that the estate sits on the site of the Manson murders in 1969. The house was torn down and replaced by Franklin with the current palace, but the location is still an infamous one that might detract from the estate’s obvious selling points.
You can take an extensive tour of the so-called “House That ‘Full House’ Built” in the video below, courtesy of realtor Josh Altman on YouTube.