A Producer Who Builds Big
Jeff Franklin built his career around the idea of a house filled with people. Away from television, he has spent much of his life creating and acquiring houses that are equally notable for their scale and ambition.
The Inglewood native created Full House, the ABC sitcom that ran from 1987 to 1995 before returning in 2016 as Netflix’s Fuller House. He later developed shows including Hangin’ with Mr. Cooper and Malcolm & Eddie. His television success eventually gave him the resources to pursue increasingly ambitious real-estate projects across Los Angeles and beyond.
Franklin’s approach has often been straightforward: buy, build and eventually sell. In 1988, he paid $1.9 million for a promontory lot in Hollywood Hills West overlooking the Sunset Strip. He later developed a futuristic five-bedroom spec home there with architect Richard Landry. Franklin listed the property for $38 million in 2015, and it sold the following year for $20.2 million.
That same summer, Franklin paid roughly $4 million for the San Francisco Victorian whose exterior became famous as the Tanner family home on Full House. The purchase was a memorable piece of television history, although his plans to welcome visitors to the property reportedly drew complaints from neighbors. He eventually returned the house to the market for just under $6 million.
His most ambitious Los Angeles property, however, has been the Beverly Hills compound he assembled around the turn of the century and occupied for roughly two decades. After relocating to Miami, Franklin shifted much of his attention to the Venetian Islands, where he accumulated more than $48 million worth of land by 2022. Records indicate that he sold one 0.31-acre parcel there for $11 million in March 2026. Landry was also brought in to design Franklin’s Florida residence.
Franklin Tries Again at $49.95 Million
Villa del Cielo has had a long and closely watched journey through the luxury market. The roughly 3.6-acre Beverly Hills estate is now being offered at $49.95 million, a dramatic reduction from the $85 million asking price attached to its debut in January 2022.
At the current price, the property works out to approximately $2,380 per square foot based on the main residence’s roughly 21,000 square feet. The latest listing represents a significant attempt to reposition the estate after several years of price reductions and a period on the luxury rental market.
The property originally appeared in 2022 as the Cielo Estate with an $85 million price tag, a figure Franklin later acknowledged was aggressive. The asking price subsequently dropped to $70 million in the spring and $60 million by the fall. It returned to the market in 2023 at just under $60 million.
When a buyer still did not emerge, Franklin explored another strategy by offering the compound as a luxury rental for close to $250,000 a month, or nearly $3 million annually. The rental price reflected the property’s unusual combination of residential space and resort-style amenities, making it particularly suited to large-scale entertaining and private events.
The latest sale effort places the emphasis on a lower entry price. Even so, the estate occupies an exceptionally narrow segment of the luxury market. Few buyers can afford a property approaching $50 million, and an even smaller group may be looking for a residence with an Andalusian palace aesthetic, elaborate aquatic features and extensive entertainment facilities.
The property’s history adds another layer to the sale. In August 1969, actress Sharon Tate and four others were killed on the site by followers of Charles Manson, in the earlier house that stood there. That residence was demolished in 1994, and the mansion Franklin ultimately developed bears no resemblance to the original structure.
Franklin has previously dismissed the property’s history as something belonging to the distant past and unrelated to his own life at the estate. For prospective buyers, however, the history remains an unavoidable part of the property’s story.
Franklin has already established a new base in Miami, where he has spent years acquiring waterfront land. Selling Villa del Cielo would therefore represent more than another real-estate transaction; it would mark the end of a long chapter in his Los Angeles property portfolio.
The market has continued to test the estate. In July 2026, the asking price was reduced again to $44.99 million, cutting another $5 million from the previous figure and underscoring how difficult it has been to match the property with a buyer at Franklin’s preferred valuation.
Inside the Estate
| Property Fact | Details |
| Property Name | Villa del Cielo |
| Location | Benedict Canyon, Beverly Hills, California |
| Lot Size | Approximately 3.6 acres |
| Main Residence | Approximately 21,000 sq. ft. |
| Architect | Richard Landry |
| Architectural Style | Andalusian |
| Bedrooms | 9 |
| Bathrooms | 18 |
| Garage | Underground, 16 cars |
| Pool | 75-yard resort-style pool |
| Key Amenities | Theater, spa, salon, wine cellar, bars, aquariums, waterslide, lazy river |
Property Timeline
- August 1969: The original house on the site becomes the scene of the Tate murders.
- 1994: The earlier house is demolished by its then-owner, who begins construction of a larger residence.
- Late 1990s to early 2000s: Franklin acquires the property, which reportedly contained a partially completed mansion. Reports differ on the exact year, with the purchase price placed at just over $6 million.
- Around 2006–2007: The Richard Landry-designed Andalusian estate is completed, and Franklin moves into the property.
- January 2022: The estate enters the market for $85 million.
- Spring and fall 2022: The asking price is reduced first to $70 million and later to $60 million.
- 2023: The property is relisted for just under $60 million.
- Before October 2025: Villa del Cielo is offered as a luxury rental for approximately $247,500 per month.
- October 2025: The estate is listed for sale at $49.95 million.
- July 2026: The asking price is reduced to $44.99 million.
