Sale price of Elon Musk’s former Los Angeles home slashed amid foreclosure fears

A Los Angeles home once owned by US president-elect Donald Trump’s new best friend Elon Musk has had its sale price slashed amid fears it could be headed for foreclosure.

The four-bedroom, four-bathroom home, which is located in the swanky Bel Air neighbourhood and overlooks its country club, has been on the market for more than 90 days.

It was originally listed for sale for US$13 million (AUD$19.96 million) before the price was slashed this week to USD$9.5 million (AUD$14.6 million).

The home is steeped in Hollywood history, having once been owned by Willy Wonka & the Chocolate Factory star Gene Wilder, who reportedly purchased the home in 1976.

He lived in the home for three decades, only selling it in 2007 for AUD$4.2 million.

Musk then purchased the home in October 2013 for AUD$10.4 million.

He in turn sold the home in October 2020 to Wilder’s nephew, filmmaker Jordan Walker-Pearlman, and his wife, Elizabeth Hunter, for AUD$10.75 million.

Mansion Global reports that the couple bought the home from Musk with the help of a loan from the Tesla chief executive, but are now selling after falling behind on payments. 

A notice of default was filed in July, and if a buyer isn’t found soon, the property will go to auction next month.

A restricted covenant means the historic home cannot be bulldozed.

The home itself was designed by architect Robert Byrd, who was proficient between the 1920s and 1970s and known for his birdhouse style designs and melding of indoor and outdoor spaces.

The home’s exterior features traditional brickwork and wood detailing.

The open-plan living areas feature original wood-beamed ceilings, cosy fireplaces and an abundance of natural light.

A unique circular bar with panoramic windows offers views of the Los Angeles skyline. 

The gourmet kitchen overlooks the backyard and multiple outdoor spaces, inground pool and landscaped gardens.