Ronald and Nancy Reagan's Former Bel-Air Home Sells for $15M

Billionaire Jerry Perenchio reportedly purchased the late president's home.

The three-bedroom, six-bathroom Bel-Air home previously owned by late President Ronald Reagan and former first lady Nancy Reagan has been sold for $15 million.

According to the Los Angeles Times, former Univision CEO, billionaire businessman and philanthropist A. Jerrold "Jerry" Perenchio, who serves on the Ronald Reagan Presidential Foundation's board of trustees, purchased the 1954-built single-family home in an off-market deal. Listed on Realtor.com, the 668 St. Cloud Road residence is shown to have sold on June 23.

Spanning 7,192 square feet, the 17-room, two-story residence sits on a 1.29-acre lot just a short turn off Beverly Glen Drive. Outdoors, a sprawling green lawn and sparkling swimming pool offer homeowners a sun-soaked location for entertaining. In an effort to provide privacy to residents within the desirable neighborhood, the shrubbery- and tree-lined home is surrounded by vegetation on all sides.

The couple lived in the ranch-style abode from 1988, when Ronald completed his second term in office, until their deaths. Nancy died in March at the age of 94 and Ronald died at the age of 93 in June 2004. Both the 40th U.S. president and the actress-turned-first lady died in the home.