Dr. Phil’s $12 Million Beverly Hills Mansion Is Now Available for Rent and the Price Will Surprise You
Most people rent an apartment. Dr. Phil’s old home has been trying to find a renter since last year, and the price has dropped nearly 35% to make it happen.
The Mediterranean villa at 1008 Lexington Road, Beverly Hills, that Phil and Robin McGraw once called home is back on the market as a luxury rental, now listed at $65,000 per month. The listing is handled by Benjamin Illulian, founder of Illulian Realty.
A Home Built for More Than One Family
Originally custom-built for Dr. Phil and Robin in 2001, the property sits on 0.72 acres just north of Sunset Boulevard, minutes from The Beverly Hills Hotel.
What you get at that price: 12,025 square feet across two levels, seven bedrooms, a detached one-bedroom guesthouse, a state-of-the-art home theater, a dedicated office, and garages that accommodate up to 13 vehicles.
Inside, a double-height foyer sets the tone. The main level has elegant living and dining rooms, a chef’s kitchen with an eat-at island and breakfast nook, a cozy den with its own fireplace, and two guest suites. French doors in the living room open directly to a covered patio and backyard.
The primary suite on the second floor is the standout. It has two spa-inspired bathrooms, a soaking tub, walk-in closets that the listing agent calls “one-of-a-kind” in size, a fireside seating area, and a private balcony.
Outside, manicured rose gardens, a tranquil fountain, a sundeck pool, a raised spa, multiple covered loggias, an outdoor fireplace, and an alfresco dining pavilion round out the resort-style grounds.
It’s a pattern seen across celebrity properties. Chip and Joanna Gaines sold their famous Magnolia Table Gristmill in just days, showing how fast the right name can move a property. You can check out the full listing details here on Realtor.com.
From $100,000 to $65,000: The Price Journey Nobody’s Talking About
This is not the first time this villa has been on the rental market. It was first listed in July 2025 at $100,000 a month. It didn’t rent. The price dropped to $85,000. Still no takers. Then $75,000 at the start of 2026. The property was eventually pulled off the market entirely.
Now it’s back at $65,000, a 35% reduction from where it started.
That trajectory matters. Even in Beverly Hills, a $100K ask for a rental is a stretch. The stepdown to $65K positions it more realistically within the ultra-luxury rental tier, where the right tenant, whether a film production, a relocating executive, or an international visitor, might actually sign.
This kind of celebrity real estate cycle isn’t new. Pete Davidson recently cut his New York home price three times and it still struggled to find a buyer. The market, even at the top, has limits.
Dr. Phil and Robin originally owned this villa for about a decade before selling it for $12 million in 2011, after upgrading to their current $29.8 million Beverly Hills compound. The villa has since been privately held for 15 years.
Why This Matters: The $65K Number Tells a Bigger Story
$65,000 a month sounds extraordinary until you put it in context.
According to current Beverly Hills rental market data, the median asking rent across all listings in the city sits around $8,000 per month. Even 4-bedroom homes average closer to $39,000. This villa at $65K sits in a category of its own, nearly 8x the city median.
At that rate, annual rent comes to $780,000. The pool of people who can write that check is small: entertainment industry executives, ultra-high-net-worth individuals between estates, corporate relocations, or international buyers who want Beverly Hills access without a nine-figure purchase.
Kylie Jenner walked away from a $48 million sale not long ago, and her reasoning showed exactly how differently celebrities think about property decisions. Renting at this price tier follows a similar logic: maximum control, no long-term commitment.
The Beverly Hills luxury market in 2026 is being described by analysts as a “grand recalibration.” Ultra-high-net-worth renters are treating elite properties as lifestyle hubs rather than permanent residences, and supply at this level remains genuinely scarce.
If you follow celebrity real estate closely, there’s a WhatsApp channel that covers these kinds of moves regularly, worth keeping an eye on for updates as they happen.
The Bigger Picture: Dr. Phil’s Property Portfolio and a Bankruptcy Attempt
While this villa is making headlines for its price drop, Dr. Phil’s financial world has been under scrutiny for a different reason entirely.
In July 2025, Dr. Phil filed for Chapter 11 bankruptcy for his media startup, Merit Street Media, a move that would have let him restructure and continue operating.
U.S. Bankruptcy Judge Scott Everett denied the request, accusing Dr. Phil of lacking “candor” about his company’s finances and stating that Merit Street was already “dead as a doornail” when the filing was made.
The case was moved to Chapter 7 liquidation, with a trustee placed in control of asset sales to repay creditors.
His property portfolio, meanwhile, remains extensive. Beyond the $29.8 million Beverly Hills compound he and Robin live in, the McGraws hold a Calabasas mansion bought for $6.6 million in 2011.
A Beverly Hills home purchased for $10 million in 2020 used primarily by son Jordan McGraw and his wife Morgan Stewart, and a Dallas estate acquired in 2020 that had been listed for just under $12 million.
The 1008 Lexington villa is one piece of a much larger real estate picture, and the fact that it’s being rented rather than sold likely says something about how the McGraws are managing their holdings right now.
Quick Facts
- Address: 1008 Lexington Road, Beverly Hills, CA
- Current Rent: $65,000/month (down from $100K in July 2025)
- Size: 12,025 sq ft | 7 beds | Guesthouse included
- Listed By: Benjamin Illulian, Illulian Realty
- Dr. Phil sold it for: $12 million in 2011
- Built: 2001, custom-built for Dr. Phil and Robin McGraw
Final Thoughts
What makes this story interesting isn’t just the price. It’s the 35% drop that got us here. A $100K/month listing that nobody rented tells you something about the limits of even the Beverly Hills luxury market.
At $65,000, it’s still an extraordinary ask. But for a 12,025 sq ft, custom-built Mediterranean villa with a celebrity history, resort-style grounds, and a guesthouse, it’s finally in a realistic conversation.
Whether it finds a tenant at this price is the next chapter.
What do you think? Is $65,000 a month still too steep for a rental, even in Beverly Hills? Share your take in the comments below.
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Disclaimer: This article is for informational purposes only. All property details, pricing, and legal information are based on publicly available sources at the time of publication.
