Holiday Ayo - Sean "Diddy" Combs accepts an offer on his Los Angeles mansion. An investor who also bought Kanye West's house is offering P Diddy's house at a low price.

Reporting from Business Insider, the founder of Belwood Investments, Bo Belmont, made a cheap offer for the Holmby Hills luxury house for US$ 30 million or around IDR 477.3 billion (exchange rate IDR 15,912).

The offer is less than half the selling price, ie US$ 61.5 million or the equivalent of Rp. 978.5 billion.

The firm admitted that it wanted to renovate and improve the house's reputation. Considering the house was put on the market just weeks before Combs' arrest in 2018, September.

He was arrested on federal charges of racketeering conspiracy, sex trafficking, and transportation to engage in prostitution.

Combs has pleaded not guilty and has repeatedly denied committing any sex crimes. His home was searched in March by federal agents who seized various 'Freak Off' paraphernalia, including narcotics and more than 1,000 bottles of baby oil and lubricants from his residence.

"I wanted to remove the stigma and focus on the charming elegance of this extraordinary property," said Belmont, quoted by Business Insider, Sunday (24/11).

P Diddy's luxury house is in one of the most expensive housing developments in Los Angeles.

Combs bought the house for US$ 39 million or around IDR 620.5 billion. The 1,579.3 square meter house stands on 1.3 hectares of land.

The facilities are very complete with a wine cellar, fitness center, theater, basketball court, sauna and swimming pool.

According to Beverly Hills Agent Rochelle Atlas Maize, Belmont's relatively cheap offer is not entirely due to the P Diddy case, but the luxury real estate market in Los Angeles is currently experiencing a downturn.

"Houses are priced between US$ 15 and US$ 60 million (IDR 238.6-954.7 billion) is experiencing very difficult times. The selling price of US$ 61.5 million is quite high," said Maize.

Considering the 'outdated' features of Diddy's house, Maize estimates its value may be between US$ 40 million and US$ 50 million (IDR 636.4-795.6 billion).