Elon Musks, and Gene Wilders, former LA home has a $3M-plus price cut as it faces a foreclosure sale
It may seem unrealistic to own a piece of property that, separately, Tesla titan Elon Musk and the late actor Gene Wilder once called their own.Now, it stands to turn over to a new generation — for less.That’s because this Los Angeles residence is heading closer to a foreclosure sale.Mansion Global reports this 1951 white-shingle house, located in affluent Bel Air, has just seen its asking price reduced from $12.95 million to a much lower $9.5 million.
This discount comes as the residence’s current owners, one of whom is a family member of Wilder, fell behind on payments; if it doesn’t find a buyer soon, it will hit the auction block next month.Beginning in August, reports emerged that Musk was moving to foreclose on this dwelling.In 2020, the tech mogul was its owner.
That’s when he agreed to sell it to the filmmaker Jordan Walker-Pearlman — Wilder’s nephew — and his wife, Elizabeth Hunter, for $7 million.He even tossed in a $6.7 million loan to seal the deal.Ever since, the couple fell behind on the loan repayments.
Over the summer, an entity linked to Musk slapped a notice of default on the property, meaning the beginning of a foreclosure.If it fails to nab a buyer, it will go up for public auction on Dec.
3.In much earlier times, Wilder — who passed away in 2016 from Alzheimer’s at the age of 83 — bought the spread for some $300,000 in 1976.Under his ownership for decades, he sold it in 2007 for about $2.7 million, the outlet notes.
Come 2013, Musk purchased it for a significantly higher $6.75 million.In 2020, he announced on Twitter — now the X platform that he owns — that he would “own no house” and sell “almost all physical possessions.” At that time, he also made sure that this residence not be demolished.It still maintains its historic charm, and the current listing also stipulates the house cannot be razed.Touches include wood-beamed ceilings, a circular bar area, fireplaces and four bedrooms.
Outside, there are seat...