Elon Musk's Former LA Home Gets $3.5M Price Cut Ahead Of Foreclosure

A historic Los Angeles home once owned by actor Gene Wilder and later by Elon Musk is heading to foreclosure auction.

According to Mansion Global, the property, originally listed for $12.95 million in August, has been significantly reduced to $9.5 million. 

Wilder, who died in 2016, was best known for his portrayal of Willy Wonka in "Willy Wonka & the Chocolate Factory."

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Built in 1951 by renowned architect Robert Byrd, the white shingle house is a piece of Hollywood history. The current owners, who purchased the home from Musk with a loan, have fallen behind on payments, leading to foreclosure proceedings.

The property will be auctioned unless a buyer is found before next month.

Musk purchased the 2,756-square-foot residence for $6.75 million in 2013. In 2020, he announced on Twitter (now X) his intention to sell "almost all physical possessions" and "own no house." He stipulated that this Bel-Air home should not be demolished or altered in a way that would diminish its character.

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Following through on his pledge, Musk later sold the house to filmmaker Jordan Walker-Pearlman (Wilder's nephew) and his wife, Elizabeth Hunter, for $7 million.

Musk loaned the couple $6.7 million through a limited liability company (LLC) to facilitate the purchase, but Walker-Pearlman has since fallen behind on payments. In July, a notice of default was issued, followed by a notice of trustee's sale earlier this month. The home is scheduled for public auction on Dec. 3, where it will be sold to the highest bidder.

Walker-Pearlman and Hunter are cooperating with Musk and told The Wall Street Journal they are "at peace" with the foreclosure process.

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Like Musk's 2020 tweet, the current listing stipulates that the property cannot be demolished. Drew Meyers of Westside Estate Agency told Mansion Global that a restrictive covenant is part of the package to preserve the property's historic nature.

"A Robert Byrd house of this significance should never be torn down," Meyers said. "It should be restored and brought back to life while maintaining its beautiful soul. We want to make sure it's sold to someone who appreciates its timelessness."

The four-bedroom home boasts original wood-beamed ceilings, inviting fireplaces and an open floor plan. A circular bar area serves as the heart of the property, complemented by a gourmet kitchen and panoramic views.

Outdoor amenities include multiple seating areas, meticulously landscaped gardens and a kidney-shaped pool.

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