Hello San Fernando Valley, today we will talk about the Joel Diamond estate for sale in the rugged hills of Calabasas right off Mulholland Hwy at a just reduced asking price of $1,999,950 (from $2,000,000, so not much of a reduction). The property sits on approximately one acre with a 3,386 sqft home consisting of 5 Beds/8.5 Baths (that's a lot of toilets and tubs to clean). There is also a separate 1200 sqft guest home that was built in 2008 and separated from the main house by a "charming" wood bridge. The main house has a large chef's kitchen with all the fancy appliances, breathtaking views of the Santa Monica Mountains, Custom Sound and Lighting systems, waterfalls, tennis court, and a large bonus room that was formerly the garage.
Joel Diamond is a Grammy Award winning record producer whose work has contributed to 36 gold and platinum records as well as 54 Billboard charting records, movie soundtracks, and television themes. He has worked with the likes of James Taylor, The Bee Gees, David Bowie, and Engelbert Humperdinck amongst others.
Diamond originally purchased the property in 2001 for $850,000 and has listed and delisted several times since Feb 2009. The last reported sighting of this property was in August 2009 at the L.A. Times Hot Property and here with a price tag of $1,895,000. So if I understand this correctly, Mr. Diamond is hoping to sell his property for roughly $100K more than two years ago when the real estate market is struggling right now. Mr. Diamond still stands to make double his initial investment not including the work to add the guest house, realtor commissions, taxes, etc. Not bad for 10 years work especially in this challenging market. Putting that all aside, based on the pictures, the home looks like a "great hideaway retreat resort but close to the city and beach" home. The one thing that is lacking is a pool. For all that money and space, surely you can provide a pool. Guess you will need to jump into the neighbor's which include Will Smith, Katt Williams, Brad Penny, and Meat Loaf.