The price cut of US$370,000 comes just two months after Lowe increased the price to $5.595 million in January, shortly after devastating wildfires swept through the Los Angeles area.
This latest adjustment represents the lowest asking price since the home was first listed in July 2023 for US$6.575 million.
According to Mansion Global, Lowe, 60, and his wife Sheryl Berkoff purchased the Franklin Canyon Drive property in October 2020 for US$3.75 million through a trust tied to Berkoff.
The 1950-built home spans nearly 3,000 square feet across two levels and features an open-plan design.
The second floor houses much of the main living space, including a sitting area, kitchen, dining area, and a wet bar with a second full-size refrigerator.
The lower level contains a family room with its own wet bar and a gym, along with direct access to the backyard amenities.
The outdoor space includes a covered sitting area with a fireplace, a pool and hot tub, a putting green, and a fire pit.
The West Wing actor’s home includes four bedrooms and four and a half bathrooms.
The primary suite features a walk-in closet and what the listing describes as a “spa-inspired bathroom” with “tranquil views.”
The property also offers a covered al fresco dining space accessible from the upstairs dining area, providing additional entertainment options for potential buyers.
According to the listing, the home can be sold partially furnished, offering additional value for prospective buyers looking for a move-in ready property in the Beverly Hills area.
The home was briefly taken off the market in Autumn 2023 before being relisted in early December for just under US$5.5 million.
It is currently being marketed by Jade Mills of Coldwell Banker Realty and Jacob Steagall of Compass.
