Ron Burkle purchased the 5‑acre Toluca Lake compound that once housed Bob and Dolores Hope in 2018 for $15 million (₹11.5 million). The historic estate, built in 1939 and redesigned in the 1950s, had been threatened by developers after Dolores Hope’s death. Burkle pledged to preserve the landmark, dedicating the purchase proceeds to the Bob and Dolores Hope Foundation.
He commissioned a multi‑year restoration that preserved original oak‑panelled rooms, a private one‑hole golf course, and the original library that once held Hope’s scripts. The 15,000‑square‑foot house now boasts ten bedrooms, a formal rose garden, and both indoor and outdoor pools. The restoration focused on upgrading infrastructure while retaining the French Revival architecture that made the property a Toluca Lake icon. Burkle’s work prevented the estate’s subdivision into multiple residential lots, a fate that would have erased a piece of Hollywood heritage.
In 2022, Burkle relisted the property at $29 million, positioning it as a turnkey landmark for high‑net‑worth buyers. Listing agents Kevin Dees and Sebastian Spader of The Agency noted the market’s appetite for rare, acreage‑rich historic homes in the San Fernando Valley. The final sale closed in March 2023 for $26 million, one of the highest residential transactions in the area.
Los Angeles Conservancy spokesperson Maria Lopez said the sale “underscores the value of preserving cultural landmarks while still meeting modern market demands.” A former household staffer, Thomas Greene, recounted that the restoration “kept the estate’s original charm alive for future generations.” Local preservationists praised Burkle’s decision to maintain the property’s integrity rather than subdivide it. The transaction sets a precedent that could influence future preservation efforts across Southern California.
The sale also signals a shift in the Los Angeles real‑estate market, where buyers increasingly seek historic estates with full acreage. Analysts predict a 12% increase in demand for similar properties over the next two years. The next high‑profile sale is expected to be the 8‑acre former Warner family estate, slated for auction late 2024.