“Lucy, I’m home!” You can almost hear that iconic television phrase wafting through the entry hall of this most classic of Beverly Hills mansions, which recently came on the market for a very reasonable (for the area) $6.985 million. It was the temporary love nest of Lucille Ball and Desi Arnez back in the 1950’s, while they awaited another regal abode to be completed just down the street.

If you’ve ever taken a tour of the stars’ homes (don’t scoff, all the best people do it…wearing hoodies and shades) you’ll probably recognize this Spanish colonial, located in the flats of Beverly Hills. It has seven bedrooms, 6.5 bathrooms, and sits on a lavishly landscaped 14,440 square-foot lot, which is quite spacious for the area. Originally built in 1926, it’s been  completely refurbished with all the obligatory upscale accouterments, but still maintains its elegant classic features, like carved wood beams, crown moldings, polished wood and tile floors, French doors, sturdy plaster walls, arched passageways and large fireplaces.

My favorite part is the giant veranda, which can serve as an outdoor living room, overlooking the pool area. That includes a trellised loggia/patio with a fireplace and lots of lush green lawn. Yes, this is quite the elegant party house–the type where you’d feel right at home wearing high heels, pearls and a fancy dress, while sipping exotic cocktails on out on the lanai — and not have any ‘splaining to do.

See more photos and get additional info on the property from my article at HGTV’s Frontdoor.com. Find the actual listing on The Agency’s website.