Gold medalist Lenny Krayzelburg cutting a deal? Olympian appears to have his 3,454-square-foot house in Los Angeles’ Hollywood Hills area under contract after it last was listed for $3.995M

Olympic swimmer Lenny Krayzelburg appears to have a deal to sell his gated, three-bedroom, 3,454-square-foot in Los Angeles’ Hollywood Hills after it last was on the market for $3,995,000.

In a Big Time Listings exclusive, we can report on the latest movement in the gold medalist’s strange housing odyssey, which began with his purchase of this house back in February 2007 for $2,610,000, as we first had reported in June 2007. Krayzelburg first listed the house back in September 2008 for a whopping $5,675,000, later reducing the asking price to $5,250,000. He eventually brought it all the way down to its most recent asking price of 3,995,000.

Built in 1963, the house has a nearly 45-foot-long great room with 12-foot ceilings and a glass wall of fire, three and a half baths, and a unique entry waterfall, according to public records and listing information. The house has been redesigned (to what extent, we’re not sure) by designer Roy Sklarin, according to listing information. Outdoor features on the 0.41-acre (17,755-square-foot) lot include a newly built pool and spa with numerous waterfalls and a built-in barbecue, according to public records and listing information.

Krayzelburg continues to own a 1,572-square-foot condominium unit in West Hollywood, which he has owned since buying it in 1998 for $250,000, according to public records.

We will keep you posted as we learn more about if Krayzelburg’s house does indeed close, and if so, for how much and to whom. Stay tuned.