The Los Angeles home purchased by the late Friends star Matthew Perry less than six months before his death has received a significant price adjustment, according to information reviewed by californialuxuryhouses. The mid-century residence in the Hollywood Hills is now asking $4.7 million, down nearly $500,000 from its original listing price earlier this year.
The price reduction comes as Perry’s estate continues to navigate the sale of the property, which first hit the market in May at $5.195 million.
A Mid-Century Hollywood Hills Retreat
Built in 1957, the single-story home is tucked into the Hollywood Hills just above the Sunset Strip, an area long favored by actors, musicians, and industry insiders seeking both privacy and proximity to Los Angeles’ entertainment core.
Property records show that Perry acquired the residence in June 2023 for just under $5 million, purchasing it through a limited liability company. He passed away in October of the same year at the age of 54, only months after taking ownership.
“The home reflects a very specific moment in Los Angeles architectural history,” a source familiar with the listing told californialuxuryhouses. “Mid-century properties in this pocket of the Hollywood Hills remain highly desirable, especially those that have been carefully updated without losing their original character.”
Renovated While Respecting Its Architectural Roots
Spanning nearly 2,800 square feet, the residence has undergone renovations that introduce modern upgrades while preserving its mid-century identity. The layout wraps around a central outdoor patio, creating a seamless indoor-outdoor flow that is emblematic of Southern California living.
Inside, hardwood floors run throughout the home, complemented by a double-sided fireplace that connects the living room and dining area. An updated kitchen anchors the main living spaces, alongside both formal and informal dining areas designed for entertaining.
One of the three bedrooms is currently configured as a private screening room, a feature that nods subtly to Perry’s decades-long career in Hollywood. The home officially offers three bedrooms and four bathrooms, though it is presently staged as a two-bedroom residence.
Outdoor Living at the Center
The primary suite opens directly onto the patio, where a pool, fire pit, and covered seating area create a tranquil retreat from the city below. According to those involved in the marketing, the outdoor space has become one of the property’s strongest selling points.
“Buyers are responding to the way the house embraces outdoor living,” an agent familiar with Hollywood Hills real estate told californialuxuryhouses. “It feels private, calm, and very much removed from the pace of Sunset Boulevard, even though it’s just minutes away.”
Market Context and Price Adjustment
The decision to reduce the asking price reflects broader dynamics within the Los Angeles luxury real estate market, where pricing for celebrity-owned homes can be influenced by both emotional factors and shifting buyer expectations.
The listing is held by Greg Holcomb of Carolwood Estates, though he did not respond to a request for comment from californialuxuryhouses. Realtor.com first reported the price adjustment.
According to market observers, mid-century homes in the Hollywood Hills continue to perform well, but buyers have become increasingly selective, particularly when a property carries a unique ownership history.
“Celebrity provenance can attract attention, but ultimately, pricing still needs to align with current market realities,” another industry professional told californialuxuryhouses. “This adjustment positions the home more competitively.”
A Notable Chapter in Hollywood Real Estate
While californialuxuryhouses reached out to representatives of Perry’s estate for additional insight into the sale, no response was received prior to publication. The listing nonetheless remains one of the more closely watched Hollywood Hills homes for sale, given both its architectural appeal and its association with one of television’s most recognizable figures.
Located near world-class dining, nightlife, and cultural landmarks along the Sunset Strip, the home offers future owners a rare blend of mid-century design, privacy, and legacy—an increasingly scarce combination in Los Angeles real estate.