Built in 1926 and designed for grand entertaining, the restored English country-style mansion and guesthouse have seven bedrooms, nine bathrooms and 10,000 square feet of living space. The nearly three-quarter-acre property is wooded and includes a swimming pool, a rose garden and a spice garden.
Towne, 77, won an Oscar for original screenplay in 1975 for the Jack Nicholson-starring film about land and water rights disputes. He wrote the screenplays for "Days of Thunder" (1990), "Mission Impossible: I" (1996) and "Mission Impossible: II" (2000).
Public records show he bought the property in the 1980s for $2.495 million. Towne is selling because he is ready to downsize. He plans to stay in the Los Angeles area.
Nick Segal and Rick Ojeda of Partners Trust in Beverly Hills are the listing agents.