Situated on the legendary Mulholland Drive in the Hollywood Hills, it is said to have been the lair of Bugsy Siegel in the 1930s.

After that, it became the setting for the famous 1984 film Beverly Hills Cop and was home to Madonna in the 1990s.

According to the Wall Street Journal, the house is currently owned by fashion giant Leon Max Studios.

If you happen to have $21 million, you could be the next owner of this luxurious, nine-bedroom, six-bathroom home.

Originally designed by renowned architect John Del Rio in 1926, the 10,513 square foot mansion features classic Spanish architecture and is a local landmark.

The house sits behind private gates on a ridge and can be accessed via a winding driveway.

With its iconic tower and gazebo, it could easily be mistaken for a tranquil convent or holiday resort.

It has all the elegant design details of the period, including wooden beams and latticed ceilings, bespoke cooked iron railings and balconies, terracotta flooring, coloured tiles, fireplaces and Spanish arches.

Some of its more striking architectural features include hand-formed wooden beams and a two-storey fireplace in the formal drawing room; a library adorned with ornate panelling and a unique fireplace; a distinctive honeycomb ceiling in the formal dining room; and an old-fashioned wooden lift.

An array of ornate fabrics and tapestries are spread throughout the family's bedrooms.

Max bought the property in 2010, when his Max Studio retail shops were located in shopping centres across the United States.

He paid $7 million for the property and set about restoring and redecorating it with extraordinary talent.

The lush grounds are as impressive as the interiors.

The property boasts 360-degree views of downtown Los Angeles, the Pacific Ocean, the iconic Hollywood sign and Lake Hollywood.

There is a classic swimming pool, fountains, terraces, rolling lawns, rose gardens, sculpted hedges, draping wisteria, citrus trees and mature specimen trees - including palm trees and splendid ninebark.