David Hasselhoff and his ex-wife Pamela Bach late last week completed the final disposition of their marital assets, an agreement that will result in the couple selling their longtime house in Los Angeles' Encino area, for an asking price that we would assume to be in the $4 million to $5 million range.

TMZ.com reported today that the former "Knight Rider" and "Baywatch" star, who also is known for this incredible music video, reached a deal late on Friday night on the division of marital assets. Bach had been allowed to remain in the house even after she was ordered to move out, but the couple now have agreed to sell their 6,148-square-foot house at 5180 Louise Avenue in Encino.

Hasselhoff and Bach paid $1,980,000 in March 1996 to buy the house from actor John Goodman's J & A Family Trust, according to public records (the Los Angeles Times' Ruth Ryon reported in April 1996 that Hasselhoff had paid $1.5 million, but public records clearly show that she was incorrect).

We have no idea what Hasselhoff will try to get for the house, but we would expect him to ask at least $4 million, and more likely $5 million-plus. Will he ask for more than $6 million, as actor Tony Danza recently preposterously did for his house in the nearby Sherman Oaks neighborhood? No one knows just yet. (we wrote on Tony's place on December 11)

In the meantime, we can report a few features on the Hasselhoff-Bach Colonial-style house in Encino, which was built in 1988. The main house has five bedrooms, a pub room, a gym, a library and an office, while the 1.482-acre property has two guest houses, a tennis court, a pool and a spa, Ryon reported back in 1996.

One other comment: Hasselhoff's house is in the most upscale, celebrity-intensive area of Encino. We just wrote on December 10 about the plethora of celebs who have lived over the years in the immediate environs, including Eddie Cibrian, Matt LeBlanc, Kirstie Alley and Katey Sagal.

We'll keep you posted on further developments involving Hasselhoff's real estate -- including the listing price for this house when it eventually hits the market.