Rob Lowe Finally Sells Beverly Hills Mansion After More Than a Year on the Market—but Had To Slash $2.5 Million From His Ask

Actor Rob Lowe has finally managed to offload the Beverly Hills estate he has spent more than a year trying to sell—but had to chop more than $2.5 million from his original asking price to close the deal.

The 60-year-old "St. Elmo's Fire" star, who has become known as quite the prolific property purchaser, originally put the three-bedroom, 4.5-bathroom home on the market for $6.6 million in July 2024—but dropped that asking price to $6.3 million just a few months later.

Since then, the property's price has changed multiple times, dropping to its lowest ask of $4.2 million in September, a move that finally appears to have prompted an eager buyer to come forward.

That price reduction was made after the listing was taken over by Lori Harris of Keller Williams and Shana Tavangarian of Carolwood Estates, while luxury real estate Rochelle Atlast Maize brought in the buyer.

Property records indicate that Lowe officially sold the home Nov. 6 for exactly $4 million, meaning that he made a profit of just $250,000 on the price he paid for the dwelling in 2020—and that's not including any money he invested in overhauling the home during the five years that he owned it.

Still, compared with the other homes that Lowe has added to his portfolio over the years, that price is just a drop in the water.

In 2020, the "Parks and Recreation" star added a stunning Montecito, CA, mansion to his collection of homes—paying $13 million for the extraordinary dwelling, which is understood to now serve as his primary residence.

That same year, he offloaded another impressive home in the same area, this time for the sky-high price of $45.5 million, having originally listed it for $47 million in 2018.

The sold Montecito home was custom built for Lowe and his wife, Sheryl Lowe, on a 3.4-acre parcel of land that later became known as "Oakview Estate."

By comparison, his Beverly Hills abode—which was built in 1950—was something of a steal, particularly given how much the Lowes poured into overhauling it when they first bought it.

Described in its listing as an "exceptional residence," the property is located in the Franklin Canyon neighborhood of Beverly Hills and merged contemporary style with a laid-back California aesthetic.

Highlights include a chef's kitchen with custom cabinets and high-end appliances, a primary suite with a spa-inspired bath and serene views, a tricked-out gym, and a den with a built-in bar.

Outside, the dwelling boasts a pool and spa, a firepit with built-in seating, an external dining area and lounge space, and even a putting green.

Lowe has previously talked about his essentials as far as properties are concerned, telling "Property Brothers" stars Jonathan and Drew Scott that he can't stand homes that don't offer natural light.

During an appearance on the real estate experts' series, "Celebrity IOU," Lowe revealed his must-haves for a property renovation while helping to overhaul the home of his longtime assistant, Carol.

"My thing about houses is that I’m all about the light,” he said. “Natural light is the best. I can’t do a dark house. The no-no of no-nos is bad floor plan and flow, and not enough natural light."

He added that merging the indoor and outdoor spaces is another essential, particularly in Southern California, explaining: "It’s Southern California. If you’re not living half of your life outside of your house, then your house isn’t set up for California."

Unsurprisingly, all of those things were readily available in Lowe's newly sold property.

The sale of his Beverly Hills home comes at an exciting time for Lowe, who was recently revealed to have landed a starring role in a new NBC drama series called "The Detail."

According to Variety, the series will be focused around members of the president's Secret Service detail "as they attempt to balance life with professional duty while securing the nation and defending against the next imminent threat."

His role in the series comes soon after his other major TV project, "9-1-1: Lone Star" ended after a five-season run.