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Burkle, who co-founded of the investment firm Yucaipa and has a net worth of over $2 billion, has long been snapping up iconic celebrity estates and architecturally distinct homes.
Bob and Delores Hope bought the property back in 1939 and moved to Toluca Lake, then a popular rustic suburb that attracted names like Greta Garbo, Frank Sinatra, and Bing Crosby.
Six of which are located in the main house, in addition to the two staff bedrooms plus a two-bedroom apartment — and 17 bathrooms.
The open living area includes a stone-clad fireplace (one of six fireplaces in the home) leading to a large dining area that offers ample space for dinner parties.