According to listing agent John Duerler of Hancock Homes Realty, the Classical Revival-style home was designed by Harry Warner, one of the founders of Warner Bros. Studios, in collaboration with famed architect Burnside Sturges.

He noted that the home was a haven for film stars away from the pace of studio life.

Dulle explains, "During the time Harry Warner lived in this palatial estate, it became a hot spot for the Hollywood elite."

It is widely believed that he entertained his closest friends - legendary Hollywood stars - here. It's not hard to imagine celebrities like Humphrey Bogart, Bette Davis and Errol Flynn enjoying the lush surroundings and the company of their industry peers.

Dulle said Warner's "bold ambitions" eventually prompted him to sell the house - a decision that ultimately helped propel the future of the film industry.

Says Dulle: "He sold the magnificent property to finance The Jazz Singer, a groundbreaking film that marked the first attempt at synchronised talkies."

That pioneering move paid off, as Warner Brothers went on to create such classics as The Maltese Falcon, Casablanca and Rebel Without a Cause.

Clearly, there's a lot of history here.

The seven-bedroom, 5,555-square-foot mansion is located in the Hancock Park neighbourhood. Built in 1923, the brick residence features a variety of Greco-Roman details, including Corinthian columns, majestic porches and Juliet balconies.

The house has well-preserved herringbone wood floors, arched windows and doors, and three fireplaces. Other preserved architectural elements include maple panelled walls, scalloped ceilings and custom woodwork.

The classic kitchen features high-end appliances, including a Viking cooker with range hood.

The luxurious master suite features a fireplace, sitting room and spa-like bathroom with beautiful arched windows.

Other luxury amenities include a maple-panelled film screening room, full-size tennis court, in-ground pool and outdoor kitchen, and guest house.

Duerler believes the home's rich background provides a significant opportunity for its next owner.

I hope that the buyer who ultimately owns this historic home will actually take the time to restore the original architectural details, he says. I would love to see this history preserved.