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4320 Cedarhurst Cir
Los Angeles, CA 90027
$32,000,000
Conventional
Property
Bedroom
10
Bathroom
12
Property Type
Conventional
Square ft
11710
Property Description
Introducing "The Cedars" a monument to Old Hollywood glamour and artistic splendor, meticulously restored to its original magnificence by the renowned fashion designer Sue Wong. This palatial estate, conceived in the roaring 1920s by visionary French director Maurice Tourneur, reflects an era of opulent detail and grandeur, inspired by the Duke of Alba's villa in Spain. This three-house compound encompasses 10 bedrooms and 12 bathrooms in nearly 13,000 ft. of living space on close to 3/4 of an acre on two lots. Nestled on the historic hills of Los Feliz, The Cedars stands as a testament to Hollywood's golden age, boasting a commanding view of Los Angeles, from the city to the ocean. The estate is named after the once-abundant cedar trees that adorned the landscape, adding to its storied and mystical ambiance.As you step through the historical threshold, you are transported back in time to a period when Hollywood was as much about the art of storytelling as it was about the celebrities it celebrated. The home's dazzling array of kaleidoscopic opulence and intricate period details serves as an artistic sensory overload and each room tells a story, each corner holds a whisper of the past.The Cedars has been a sanctuary for Hollywood royalty and musical legends, hosting an array of illustrious names including Norma Talmadge, Howard Hughes, Marilyn Monroe, Jimi Hendrix, and Johnny Depp, to name a few. The walls of this iconic estate are steeped in the creative energies of these legends, from the iconic "Purple Haze" composed by Hendrix within its walls, to the gatherings of stars like Bob Dylan and The Rolling Stones.Sue Wong, the current custodian of The Cedars, undertook a painstaking three-year restoration, ensuring that no detail was overlooked. Collaborating with a team of European artisans and craftspeople, Wong led the revival of the estate's ornate gilded bas-relief ceilings, frescoed archways, and period ironwork. Her commitment extended to a global search for antiques that resonate with the estate's majestic architecture, bringing together elements from Baroque, Empire, French Art Deco, Moroccan, and Andalusian styles.Today, The Cedars is not just a home, but a living, breathing piece of art and each of the 26 rooms is meticulously designed to reflect the elegance and grand style of its origins. It stands as a stunning homage to the glamour and creative spirit of early twentieth-century Hollywood, offering an unparalleled opportunity to own a piece of history and artistry.This estate is a rare jewel in Los Angeles, perfect for those who appreciate the beauty of history, the allure of Hollywood, and the art of exquisite restoration. Experience the magic and legacy of The Cedars, where every room tells a story, and every view beckons a tale of yesteryear. This property is sold with the adjacent property at 4310 Cedarhurst Circle, APN #5591-007-016
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1927
MLS Number
24-395028
Location
Address
4320 Cedarhurst Cir
City
Los Angeles
State
CA
Zip Code
90027
County
LOS ANGELES (NORTHWEST LA)
Listing
Provider
Coldwell Banker Realty, original listing
Name
Coldwell Banker Realty
Phone
(800) 500-4053
Office Name
Coldwell Banker Realty
Office Phone
(310) 777-6200
Agent Name
Christophe Choo

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.