The last time we looked at a residential property owned by billionaire investor Bruce Karsh, the story concerned the sale of a Brentwood estate; the Oaktree Capital co-founder picked up the 1940-built, 8,617 sq. ft. Georgian in 2014 for $33.7 million, and sold it in the spring of 2019 for $33.5 million.

Karsh is no doubt hoping for a better resolution concerning his newest residential real estate sales venture. It’s another Southern California property this time around, a 1930-built Tudor manor in Beverly Hills Post Office which, according to public records, the billionaire picked up in 2000.

Records indicate that Karsh paid a hair over $12 million for it. Karsh initially offered the three-acre estate for sale last summer, when it appeared with a $59.5 million asking price. But it reemerged last month tagged at $49.5 million.

Space, history and a fine mix of original details and modern updates define a pencil sketch of this substantial estate, which was treated to a protracted restoration by Michael S. Smith. Smith included a survey of the property in his book The Curated House.

Three acres is of course a generous parcel for this neck of the woods, and the grounds have plenty of room to establish an escapist feeling while packing in the mansion, a tennis court with a lounge, a pool and pool house, a heated gazebo, and walking paths that meander through the tree-studded landscaping and garden design from Christine London.

The interiors beguile with their sense of history; original details include hand-stenciled ceilings, Venetian plaster, exposed timber, limestone fireplaces, panoramic wall covering, and French doors. Specialty rooms include a salon with a depression-era bar, a billiards room, and a library.

Listing information puts the square footage at 16,439 sq. ft.; the measurement may well include the pool house, a two-level structure containing two suites.

Karsh’s net worth is north of $2 billion.