Paul Allen's former Beverly Hills property got a major price cut and is back on the market for $110 million. Take a look at the late Microsoft cofounder's 'Enchanted Hill,' which spans 5 empty lots.
A massive plot of prime Los Angeles land that belonged to late Microsoft cofounder Paul Allen is back on the market for $110 million.
The 120-acre largely empty development site, known as "The Enchanted Hill," was listed for $150 million after Allen's death in October 2018.
Allen bought the property for $20 million back in 1997 and demolished a home that had been built there.
He once had plans to turn it into a personal private compound, Neal J. Leitereg reported for The Los Angeles Times.
Those plans never materialized, but Allen did add utilities, a one-mile private street, and two gated entrances to the property while he owned it.
The property is one of the largest sites that remains undeveloped in the Beverly Crest neighborhood of Beverly Hills.
Beverly Hills, where Allen's former land sits, is one of the most affluent parts of Los Angeles.
In the 90210 zip code, the current median listing price for a home is $6.9 million.
Foreign billionaires and celebrities including Jennifer Aniston, Brad Pitt, Cher, and Ellen DeGeneres have been known to call Beverly Hills home.
The Enchanted Hill's lofty position offers prime views of downtown Los Angeles.
It's about an hour's drive from downtown Los Angeles.
The property has five separate parcels, which offers many possibilities for development, according to the listing.
The road winds past four of the parcels before arriving at the four-acre main estate site.
According to the listing, the land has space for a private compound as well as multiple guest houses and facilities such as a sports arena, a spa and wellness center, an entertainment complex, equestrian facilities, or a winery.
"Enchanted Hill is such a different property in that it has a real creative sense to it," one of the listing agents, Jesse Lally, told the Times. "... A creative architect or developer could do something really special here."
In the 1920s, the Enchanted Hill belonged to renowned screenwriter Frances Marion and her husband, silent screen star actor Fred Thomson, according to Variety.
The $110 million Beverly Hills property is among several of Allen's sizable former assets that have been put up for sale by the late billionaire's estate since his death.
A MiG-29 fighter jet that belonged to Allen was put up for sale in August 2019, and his 414-foot superyacht, Octopus, was listed for more than $300 million in September.
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