A three-bedroom, 1,948-square-foot house in Los Angeles' Hollywood Hills area that New York-based composer Marvin Hamlisch owned until 2007 is on the market for $1,499,000.

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In a Big Time Listings exclusive, we can report on the listing of the house at 8407 Coreyell Place in the Hollywood Hills. The house came on the market at its current asking price on January 15, although listing information reveals that it had been on the market previously for $1,875,000.

Hamlisch sold the house in the summer of 2007 for $1,200,000, according to public records. We had intended to write about this house at the time of that sale, but we never got around to it; in addition, we were a bit tripped up (and ultimately, paralyzed) by the fact that the sale deed had called Hamlisch a single man -- clearly an error, given that Hamlisch long has been married to his wife, Terre Blair Hamlisch. Our sources have told us that Hamlisch never actually lived in this house; instead, he purchased it years ago for his sister Theresa (who died in 2001). It most recently had been inhabited by Hamlisch's nephew.

Now, the former Hamlisch-owned house is back on the market.

Built in 1963 and located at the end of a cul-de-sac, the house has three baths, an open floor plan with 20-foot ceilings, a new gourmet kitchen with Viking appliances and a wine cooler, new teak floors, new plumbing, new electrical, a new roof, new skylights, low-voltage lighting, and a built-in speaker system throughout, according to public records and listing information. Outdoor features on the 0.21-acre (9,296-square-foot) property include a kidney-shaped pool and pool bar with a barbecue and a refrigerator, and flagstone paving, according to public records and listing information.

The house also is available for lease for $7,500 a month.

Check out an online listing sheet for the house -- complete with photos -- here.