Hot Property: Nicolas Cage estate, once listed at $35 million, looking for offers from $9.95 million

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For the record: An earlier version of this story used the word bid, which might seem to indicate the house is being auctioned. The sale is not an auction.

The price on Academy Award-winning actor Nicolas Cage’s Bel-Air Tudor has been reduced to $9.95 million on the Multiple Listing Service, but read the fine print. A sealed-offer sale is scheduled to take place Sept. 24, and it’s the minimum opening offer that is $9.95 million.

The estate has been on and off the market since October 2006, when Cage listed it for $35 million. It had been priced this year at $17.5 million. He bought the property in 1998 for less than $7 million.

With hidden rooms and staircases and a tower, the 1940 baronial mansion sounds as if it’s straight out of a movie. The 11,817-square-foot home has six bedrooms, nine bathrooms, five fireplaces, a theater, a library, a 1,800-bottle wine cellar and a swimming pool on about an acre.

The MLS shows that Stephen Shapiro of Westside Estate Agency has the current listing. Its website features recent photos of the home.

-- Lauren Beale

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