That Disney magic? Toluca Lake home that belonged to a Disney heir sells over asking

The sale comes amid a greater slowdown in LA luxury real estate

Los Angeles /
Sep.September 09, 2019 10:00 AM
Roy E. Disney and the home in Toluca Lake
Roy E. Disney and the home in Toluca Lake

A Toluca Lake home with an attachment to Disney has sold for just over its asking price, bucking a recent trend that has seen luxury Los Angeles homes sell at steep discounts.

The 2,443-square-foot home, which has been owned at various times by Roy E. Disney, horror film actor Boris Karloff, and Oscar-winning composer Erich Korngold sold for $5.2 million, according to the Los Angeles Times. It was about $200,000 over asking price.

While the very top end of the luxury market in L.A. has been in a lull, homes between $5 million and $10 million continue to sell at a fast pace.

A gated courtyard lined by olive trees leads to the front door of the three-bedroom, three-bathroom home. The backyard has a pool and leads to a private boat dock on the six-acre lake.

Toluca Lake is a natural body of water, but was purchased decades ago by homeowners and is inaccessible to the public. There are only a handful of homes on the lake, boosting their demand.

Roy E. Disney’s father co-founded Walt Disney Co. and was the brother of Walt Disney. Roy E Disnely was also chairman of the company’s animation operation — working out of the nearby Walt Disney Studios campus — at a time when the studio pushed out classics including, “The Little Mermaid” and “The Lion King.” He died in 2009.

Toluca Lake’s proximity to Burbank’s studios made it a popular neighborhood with actors and others in the entertainment industry. Entertainment legend Bob Hope owned a 15,000-square-foot mansion there that was subject to some controversy in 2017, when it hit the market. [LAT] – Dennis Lynch


Related Articles

arrow_forward_ios
Sumner Redstone (Getty) with 31 Beverly Park Terrace (Redfin)
Sumner Redstone’s Beverly Park estate flies off market for $27M
Sumner Redstone’s Beverly Park estate flies off market for $27M
Kourtney Kardashian and her Madison Club property. (Getty, Madison Club)
Kourtney Kardashian drops $12M on brand new mansion in Palm Springs
Kourtney Kardashian drops $12M on brand new mansion in Palm Springs
Polo G and his Chatsworth compound (Getty, The Agency)
Rapper Polo G buys Chatsworth compound ahead of release of third album
Rapper Polo G buys Chatsworth compound ahead of release of third album
Bridget Fonda and Danny Elfman with 4179 Valley Meadow Road (Getty, Redfin)
Bridget Fonda and Danny Elfman buy neighboring homes in Encino
Bridget Fonda and Danny Elfman buy neighboring homes in Encino
LA Dodgers co-owner Bobby Patton and the property (MLB, Compass)
LA Dodgers co-owner puts Los Feliz estate up for $15M
LA Dodgers co-owner puts Los Feliz estate up for $15M
Tara Lipinski and the 6,779-square-foot home in Pacific Palisades (Getty, Compass)
Olympic gold medalist Tara Lipinski lands Pacific Palisades home
Olympic gold medalist Tara Lipinski lands Pacific Palisades home
Tony Gonzalez and 807 Cinthia Street (Getty, Redfin)
NFL great Tony Gonzalez scores $21M mansion sale
NFL great Tony Gonzalez scores $21M mansion sale
Sugar Ray Leonard and his Pacific Palisades property. (Getty, Hilton & Hyland)
Sugar Ray Leonard relists Pacific Palisades mansion with discount
Sugar Ray Leonard relists Pacific Palisades mansion with discount
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...