Ron Burkle bought Bob Hope’s LA estate for $15m, restored it and sold for $26m

An iconic piece of Hollywood history in Los Angeles has changed hands for $26 million (£20 million) after undergoing a sensitive multi-year restoration project. American businessman Ron Burkle acquired the sprawling five-acre Toluca Lake compound that once belonged to the legendary entertainer Bob Hope in 2018 for $15 million (£11.5 million). Following a meticulous restoration aimed at preserving its architectural heritage, Burkle listed the property and successfully closed the sale in early 2023, as confirmed by property records and listing agency details. The transaction marks a significant profit on the historic residence, which Burkle saved from potential subdivision and demolition by property developers when he purchased it from the Bob and Dolores Hope Foundation.Historic grounds preserved from divisionThe historic estate, located at 10346 Moorpark Street, served as the primary residence for Bob Hope and his wife, Dolores, for over six decades.