UPDATED: FEB 15 at 4:15 PM:
If the month’s schedule includes the Grammy awards, the Academy Awards or a sports championship in Los Angeles, Patrick Michael is booking rentals for luxe villas for jet setters coming into the megalopolis for the week.
The founder of LA Estate Rentals, Michael helps owners of mansions in the Los Angeles area rent out their estates for stays ranging from a few days to several months. It’s a good business for a place like LA, which has a significant tourist trade.
Demand surges during summers. Families vacationing are also a big part of the business. His business also spikes during special events in the entertainment industry’s awards seasons. Also contributing to LA’s rental business is medical tourism for people who seek long-term care at hospitals such as Cedars-Sinai Medical Center, families waiting for construction on permanent mansions to be completed and creatives who need to stay at a villa to complete a project, often financed by a deep-pocketed studio.
It’s not the easiest business to track. “More than half of the listings are offline,” Michael said.
He also said the rental business is not for everyone. Developers who need to pay off loans typically seek to sell mansions they build. But property owners seeking rental income can charge $100,000 to more than $500,000 for the very top one percent of Los Angeles’ rentals.
Here’s a list of L.A.’s priciest on-market rentals.
10697 Somma Way | Asking $500K a month
Nicknamed UNICA, this Bel Air mansion was developed for people who live large. There’s an indoor basketball court that can be turned into a dance floor. There’s a 36-seat theater, a recording studio and eight wet bars. Other amenities include a wellness center, an indoor pool, as well as an auto gallery that can display more than 20 cars.
Westside Property Group developed the 8 bed, 21 bathroom mansion and put it on the market in 2017 for $100 million.
NOTE: The Wall Street Journal reported on Feb. 14 that 10647 Sonoma Way was taken off the rental market and listed for sale with an asking price of $59 million. TRD confirmed the for-sale listing.
10847 Bellagio Rd. | Asking $349K a month
During much of the year Charlie Chanaratsopon, founder of Charming Charlie’s fashion accessory boutiques, lives in this Bel Air mansion. During summers, it is offered for rent. Listing agent Peter Smyth of California Realty Investments, said Saudi royalty and other deep-pocketed individuals spent summer vacations at the 9 bedroom, 13 bathroom French inspired mansion since Chanaratsopon bought the place in 2011. The mansion overlooks the 17th hole of the Bel-Air Country Club Golf Course.
2571 Wallingford Rd. | Asking $300K a month
Developers Gala Asher and Ed Berman built this trophy mansion around 2017 and put it on the market for $135 million. A slogan for this place might be “size matters.” Built on a five acre parcel of Beverly Hills, the mansion includes 12 bedrooms, 24 bathrooms, and includes a guest penthouse that stretches out to 5,000 square feet.
The house also includes an indoor sports complex which offers a basketball court, a gym, a boxing ring and a lounge and a bar.
8159 Hollywood Blvd. | Asking $ 275K a month
Developer Lorenzo Doumani purchased this century-old, three acre estate nicknamed Park Hill from Grammy-nominated pop star Katy Perry more than eight years ago. Doumani’s company Majestic Investment Group embarked on a restoration project to some of the estate’s Jazz Age looks. Also added were new features, such as an infinity pool, a screening room, a pickleball court, a gym and a screening room. It officially opened for vacation rentals in 2016.
Park Hill is located within walking distance of the Chateau Marmont.
9505 Lania Ln. | Asking $ 199K a month
Once holding the distinction of America’s most expensive residential building, media reports valued the three story building in Beverly Hills Post Office enclave for $195 million. It was developed by real estate billionaire Jeff Greene. Helping Green restore the building was Mohammed Hadid, architect Bob Ray Offenhauser and designer Alberto Pinto. Its grounds span over 25 acres. The sprawling space includes a vineyard, basketball courts, tennis courts, a pool and supposedly parking for 150 cars.
129 S. Rockingham Ave. | Asking $195K a month
Judy Garland lived at this Brentwood address from 1963 to 1967. But a new house is being built on the site.
Construction is forecast to be wrapped up by the end of February, said listing agent Myra Nourmand of Nourmand & Associates. The new house might be placed on the market for sale or lease.
The former site offered a three-story house that had a bar made from stone on the ground floor, as well as a gym, a theater and a wine room.
The one-acre grounds include a grassy yard with verandas, basketball court, in-ground trampoline, a pool, a covered outdoor kitchen and a separate guest house, according to marketing materials.
1250 Bel Air Rd. | Asking $175K a month
Based on 5.5 acres in Bel Air, this more than 14,000 square foot home is owned by a group linked to Farhad Mohit, who co-founded shopping search engine BizRate.com and Shopzilla. Mohit also is a member of the board of the Burning Man festival.
The home’s amenities include a 15 foot screening wall, a wine cellar, as well as a gym and sauna.
2620 Wallingford Dr. | Asking $150K a month
This pricey rental is owned by developer Gala Asher and wife Ginger Glass — a prominent real estate agent with Compass. According to The Real Deal research, the Ginger Glass team generated more than $162 million in sales volume from April 2021 to April 2022.
The home features eight beds and 12 baths, a guest house and recording studio.
Its grounds include a barbecue kitchen, a firepit and a glass pebble infinity pool with a spa.
277 St, Pierre Rd. | Asking $150K a month
Located on more than an acre in Bel Air, this 36,000-square-foot mansion features eight bedrooms, 20 bathrooms, as well as amenities that include a 20,000 square foot gym/recreation area. A visitor will find a full indoor resort spa and pool, with massage room, sauna and steam bath. This area also includes game rooms, bowling alley, expansive cinema, full bar, basketball and racquetball court, according to its listing agent, Joyce Rey.
701 Stone Canyon Rd. | Asking $ 120K a month
This pricey rental is better known as the Presidential Suite of Hotel Bel Air. It’s located in its own separate villa with a 4,500-square-foot courtyard. The Presidential Suite offers a chef’s kitchen, palatial living room, a grand piano and a full-sized swimming pool. The hotel’s marketing materials say Great Britain’s King Charles III, as well as a number of Hollywood stars, have stayed in the suite.
Hotel Bel Air outsourced the listing agent services to James Harris and David Parnes of The Agency.
CORRECTION: Previous story didn’t include the update that 10647 Sonoma Way was taken off the rental market and listed for sale at $59 million.