The iconic Beverly Hills home where Elizabeth Taylor lived with her second husband has been slashed in price by more than $4 million.

The cliffside home, in which Taylor lived with British actor Michael Wilding during the 1950s, has been listed for $11.99 million — a $4 million drop from the $15.9 million asking price set last year. The 7,761-square-foot home had previously been off the market since 1997, when retired attorney Marvin Gross bought it for only $2 million.

Courtesy of Zillow

The six-bedroom, seven-bathroom property is surrounded by a courtyard with palm trees and a fountain. Taylor, who died in 2011, once called it “the most beautiful home I’ve ever seen” in a memoir.

Coldwell Banker‘s Joyce Rey and Arlene Rutenberg are the listing agents in charge of selling the property. Different parts of the house have views of Los Angeles and the ocean.

Courtesy of Zillow

“The property has undergone extensive renovation over the years,” Rey told Inman. “The current owners have added an entirely new guest apartment, so the square footage is now 7,700 square feet.”

Iconic properties, however, are frequently a hard sell as buyers who can afford them often want something tailored to their own preferences.

“[The property] attracts interest as well as publicity beyond what a Realtor could purchase,” Rey said. “In the event you locate a buyer who is a fan of the particular celebrity, you have an ideal situation.”

Courtesy of Zillow

Email Veronika Bondarenko

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