The unit is located in the Los Altos apartment complex on Wilshire Boulevard and is represented by Ari Wintraub of Sotheby's International Realty - Brentwood Brokerage. The lease is for one year.
"They renovated the unit to be an entertainment venue. He created a place that looks like a mini Hearst Castle. He furnished it on a very grand scale," says Wintraub.
The newspaper tycoon even had a door connecting him to the adjoining flat, which was occupied by his mistress, actress Marion Davies.
Architect Julia Morgan, who worked with Hearst on his castle in San Simeon, California, reportedly designed the lavish spaces.
For almost a century, the Spanish-style building evolved into a hotel flat popular with film industry figures.
It's a testament to the quality of the materials that little has changed since Hearst lived in the two-storey unit.
"It's still intact in its original form, with the entrance dome and wall sconces and fir-lined wardrobes," Weintraub says." Many of today's houses are one big empty space." This unit is the opposite, with nooks and crannies and cosy corners.
Through the castle-like front door, marble and timber form a grand entrance.
There are four bedrooms - three on the ground floor and one upstairs - and four bathrooms. Two of the bathrooms are decorated with vintage green and blue tiles.
Natural light streams in from the west and south-facing windows in the living room. The bespoke built-in bar room where Hearst entertained Hollywood guests still exists.
This particular townhouse has appeared in many Hollywood films and music videos, including the Gwen Stefani video and the 2014 film The Gambler, starring Mark Wahlberg.
"Nowadays, celebrities live in houses in the Hollywood Hills," Weintraub said. But "people who work in business, people who are creative, still gravitate to the building.
"I think the tenants would be people like Johnny Depp. A few years ago, he bundled a couple of units in an art deco hotel," Weintraub adds, referring to the East Columbia building. Depp has since sold his flat.
We imagined a creative person who was bi-coastal and liked to entertain," Weintraub said.
The building has a doorman and 24/7 security.