Oh, the Green, Green Grass of Home
By Lucas on Jan 30, 2014
Image via Curbed.com
By Penny Munoz
‘Anyplace is Paradise’, but if you’re looking for a brand new home in Palm Springs, Elvis Presley’s Graceland West property isn’t it.
Listed for $3.75 million, the property’s disastrous history has ‘Suspicious Minds’, ‘All Shook Up’. Apparently, the Albert Frey designed 5,000 square foot, four-bedroom Spanish-style home has caused financial difficulties for the past two owners.
Image via elvis.com.au
Self-proclaimed Elvis promoter, Reno Fontana purchased the home in 2003 from a Japanese businessman for $1.25 million, christening it ‘Graceland West’. Used over the years as an event space to promote the King of Rock, traces of these wild nights can be discovered in the listing photos, which claim that the home “could produce an income of up to $5,000 a night.”
After the bank foreclosed Fontana, Graceland West was taken over by a new investor, Rade Raicevic, who intended on flipping the home for $4 million. Having run into financial trouble in 2012, the U.S. Bank National Association bought the home at foreclosure for $1.76 million. Still in court over foreclosure matters, the Desert Sun reports that Raicevic is “confident the court will rule is his favour.”
Image via elvis.com.au
Featuring multiple vanities, a sauna, wet bar, “jungle room” and an enclosed jacuzzi, this home is in desperate need of ‘A Thing Called Love’. Unlike Presley’s Beverly Hills estate that sold to Hard Rock co-founder Peter Morton for $9.8 million last year, this home’s main selling feature according to Estately, is that it is sitting on a prime two-acre lot.
The listing compares the home to Frank Sinatra’s Twin Palm Estate on Arena, publicizing it as “one of the premier celebrity heritage homes” in the area, though critics are quick to point out less-than-pristine carpets, questionable chessboard floors and chipping stucco. If you’re still interested (for some reason), this could be your ‘Today, Tomorrow, Forever’ home!Video via pepefish1
