The Playboy Mansion has been synonymous with Hugh Hefner since it first came into his possession in 1971.
Hefner sold the house to his next door neighbour last year, under condition that he would continue to live there until his death.
The home next door is actually a mirror image of the Playboy Mansion, built by Hefner in the late 90s as a home for his estranged wife and their children.
Daren Metropoulos (left), Snoop Dogg (centre), Evan Metropoulos (right) and Playboy playmates.
It was bought in 2009 by Daren Metropoulos, who bought the real thing last year.
Metropoulos, 34, is son of billionaire Charles Dean Metropoulos, known for his ownership of Hostess, which makes Twinkies.
Though it was sold for half the asking price, the Playboy Mansion set the record for the most expensive home sale in Los Angeles County.
The home is located in Holmby Hills, an affluent suburb in between Bel Air and Beverly Hills, which was home to Walt Disney, Frank Sinatra, Michael Jackson and Humphrey Bogart.
The five-acre property has a screening room with built-in pipe organ, a wine cellar with a Prohibition-era secret door, three zoo buildings and of course, the famous grotto.
In recent years the Playboy Mansion had reportedly fallen into disrepair, as Hefner went into financial difficulty.
Playboy had been a juggernaut of pop culture in the 1960s, publishing short stories by Arthur C Clarke, Ian Fleming and Saul Bellow.
When the Playboy Club opened in Chicago in 1961, it was the busiest nightclub in the world.
Since then, sales of the magazine have waned.