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Touted as "one of the premier celebrity heritage homes" in the area, "on par with Frank Sinatra and Bob Hope," Elvis Presley's former home in Palm Springs was recently listed for $3.75M, but Presley preservationists should be warned that the home has a bit of a rocky history. (Insert "All Shook Up" joke.) The 5,000-square foot, four-bedroom Spanish-style home—designed by Albert Frey, built in 1946, and bought by the Presleys in 1970—is no Graceland Mansion, nor does it come close to the Presley's old Beverly Hills estate, but that didn't stop former owner Reno Fontana from trying to cash in on the association. Fontana bought it from a Japanese businessman in 2003 for $1.25M, and redubbed it 'Graceland West' in an effort to turn it into an event space, which he once opened to Michael Jackson fans for a memorial service for the King of Pop. Assumedly, events like this are why two cardboard Presley cutouts are pictured in various positions in the listing photos, and why it claims that the home "could produce an income of up to $5000 a night."
After the bank foreclosed on Fontana, new owner Rade Raicevic took over operations with the intent of selling the home for $4M, but after he, too, ran into some money woes, the U.S. Bank National Association bought the property at foreclosure in 2012 for $1.76M. Though Raicevic is still facing off against the bank, and is "confident the court will rule in his favor," according to the Desert Sun, the white stucco abode—which looks more than a little worse for the wear—is already seeking a new owner. Hit the gallery above for a look through this sad, embattled piece of the King's legacy, which boasts "multiple vanities," a sauna, a wet bar, a "jungle room," and an enclosed Jacuzzi
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