Terrace Villa, a lavish 1924 Italian Revival Villa designed by noted California architect Walter C. Folland. This 8,000 sf +/- residence, flanked by the grand Mayfair & Merritt mansions, commands sweeping views of the vast Great Lawn & San Gabriel Mountains & once overlooked Terrace Dr. on Millionaire's Row. The residence has undergone a complete renovation. The main level features a grand marble entry with spiral staircase & powder bath, a grand formal living room w/fireplace & music room, gracious formal dining room, new gourmet kitchen with top-of-the-line appliances & breakfast eating area. The upper level features 3 new en-suite bedrooms & includes a master suite with custom spa-like bathroom retreat & office overlooking the front grounds, a family room & upstairs laundry room. The lower level features a new en-suite BR, gym, media room, game room, powder bath, 2nd laundry room & new 900+ bottle wine cellar. The property includes a secure 4-car underground garage & access to the community's new swimming pool. The new systems include electrical, plumbing & HVAC. The rear grounds feature a fountain, Moreton Bay fig shade trees & patio area for elegant or casual entertaining. Mills Act Historic Property Contract in place with property taxes adjusted.