Hot Property: Kelsey Grammer’s Holmby Hills estate for sale at $19.9 million

Los Angeles Times Staff Writer

Meet Kelsey the flipper.

Kelsey Grammer, who lives in Malibu’s Serra Retreat, has listed an English Country-style estate in Holmby Hills for $19.9 million. Grammer and his wife, Camille, have owned this home for about a year and are hoping to flip it for a profit. The purchase price was $13.7 million last summer, according to public records.

Real estate, like comedy, is all about timing, and hopefully, this listing won’t bomb with today’s market. Several local agents say that, in this price range, prices are holding steady and inventory is slim.

The house, all 10,567 square feet of it, certainly sits on desirable turf -- nearly an acre at that. It has seven bedrooms, nine bathrooms and seven fireplaces -- including the one in the gym. I personally don’t need more heat in my gym, but I’d much rather be treadmilling to a relaxing fire than to Dr. Phil, wouldn’t you?

There are beamed ceilings, Palladian-style French doors, his-and-her bathrooms in the master suite and a media room with built-in bookshelves and a built-in bar. The home sits behind high hedges, and there is a large motor court with covered parking for four cars. A vine-wrapped covered terrace overlooks the swimming pool.

Grammer, a five-time Emmy winner, has owned his Malibu house since 1998, when he bought it for $4.5 million. The Grammers also own property in Hawaii, which is believed to be for their personal use.

The actor has been a TV fixture since his days on “Cheers” (1984-93) and his own spinoff, “Frasier” (1993-2004). His most recent TV venture was playing TV news anchor Chuck Darling on “Back to You” (2007). He is working on several movies that are in various stages of production.

Mauricio Umansky of Hilton & Hyland, Beverly Hills, is the listing agent, according to the MLS/CLAW.