Gene Wilder's Bel Air Home Price Slashed by $3.5M, Buyer Must Preserve Legacy

Gene Wilder’s Bel Air home just had its price slashed by $3.5M, now sitting at a still-eye-watering $9.5M ... with a requirement that the future buyer must preserve the property's legacy.

The listing agent, Drew Meyers of Westside Estate Agency, tells TMZ the previous owner -- Elon Musk -- tacked on a restrictive covenant to the sale to preserve the historic nature of the property ... meaning the house that was originally listed in August for just under $13M can't be torn down.

Drew adds ... "A house of this significance should never be torn down. It should be restored and brought back to life while maintaining its beautiful soul. We want to make sure it’s sold to someone who appreciates its timelessness.”

Preserving the 4-bedroom, 5-bathroom home’s timeless vibe has been the goal for years -- and it’s something Elon pushed for when he sold it to Gene's nephew Jordan Walker-Pearlman in 2020 for $7M. Musk bought it in 2013 for $6.75 million, before selling it to Jordan.

Elon lent Jordan and his wife $6.7 million to purchase the home, but the home went into default sale after they reportedly fell behind on loan payments.

Gene originally bought the place back in 1976 for around $300K, living there for decades before selling it in 2007 for $2.75M.

At 2,750 square feet, it’s definitely a Hollywood gem -- and now that it’s back on the market, it should be kept up in a way that would’ve made Gene proud.