Richard Nixon’s former house in OC re-listed at $64M

When the President does it, that means it is not overpriced.

An Orange County estate once-owned by former President Richard Nixon has reappeared on the market at a lower price, nearly three years after first listing.

Gavin Herbert, the founder of Allergan Pharmaceuticals, owns the home and is listing the property at $63.5 million, down from $75 million.

Located atop a 5.45-acre spread, the Spanish Colonial Revival-style residence includes a 9,000-square-foot main house with seven bedrooms, a two-bedroom guest house, swimming pool, tennis court and manicured gardens, the Los Angeles Times reported.

The 37th president lived in the estate, built in 1926, during his presidency, when he nicknamed it the Western White House, or “La Casa Pacifica.” Nixon used the home to host other world leaders and famous figures, including Japanese Prime Minister Eisaku Sato, Soviet leader Leonid Brezhnev, President Lyndon Johnson, Frank Sinatra and John Wayne. President Franklin Roosevelt also visited the estate when it was occupied by its original owner, financier Hamilton Cotton.

Rob Giem of Compass has the listing.

Home sales in Orange County have been on an upward trajectory. There were seven deals priced above $20 million in the first three quarters of 2017, not including off-market transactions. That’s up from four trades over the same period in 2016.  [LAT] — Natalie Hoberman