HOUSE OF THE DAY: Hard Rock Cafe Founder Flips Elvis Presley's LA Mansion For $US4.7 Million Profit

Just over a year after he bought Elvis Presley’s old Beverly Hills mansion for $US9.8 million, Hard Rock Cafe founder Peter Morton has flipped the property for a tidy property, according to real estate blogger The Real Estalker.

The home reportedly sold off-the-market to a corporate entity for $US14.5 million. Morton was rumoured to be tearing down the historic home, but it seems that those plans never panned out.

The home, which has four bedrooms, five bathrooms, and spans 5,367 square feet, sold to Morton in December 2012 for significantly less than the initial $US12.995 million asking price.

The gated property sits on 1.18 acres of land, with stunning views of Los Angeles from the backyard. Morton is a bit of a real estate buff, with another home in Holmby Hills and a mini-compound on Carbon Beach in Malibu.

Welcome to Hillcrest Road.

The house was built in 1958.

About $US1.836 million worth of improvements went into the home in 2010, according to the Los Angeles County Tax Assessor website.

The listing describes the home as a 'French Regency Estate.'

Floor-to-ceiling windows everywhere.

The dining area has a huge sky light.

An entire wall of built-in bookshelves anchors the office.

The appliances in the kitchen are all brand-new.

The master bedroom has direct access to the patio.

It also has a huge, step-down tub.

The pool area has been completely resurfaced.

There's also a guest house on the property.

The home was previously available for rent for $US25,000 a month.

The views -- which are most likely what attracted Morton to the property -- are sparkling.

Check out some more Beverly Hills celebrity real estate.

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