The former home of actor Rob Lowe in Montecito, California, is going on the market for $22.5 million, according top the WSJ. 

Known as "Owenshire," the 5.5-acre estate is one of two Montecito properties being sold by billionaire Peter Sperling.

The Sperlings bought Owenshire from Mr. Lowe for $25 million in 2005, according to the listing agents, Joyce Rey and Timothy Di Prizito of Coldwell Banker Global Luxury.

They then renovated the 1920s house, which was designed to look like an English country manor, according to Mr. Di Prizito.

The 17,000-square-foot house has seven bedrooms and features classic English country house-style décor, with large fireplaces.

The home has a lower level with a workshop, a safe room, fur storage and an eight-car garage, according to the listing agents. The grounds also include two guesthouses, a pool, a gym and an outdoor kitchen with a pizza oven.

The Sperlings are also selling another property in Montecito, less than a mile away. "Gloria," a Spanish-style home, is asking $16.5 million after being listed several years ago at a higher price.

The estate contains a seven-bedroom house spanning nearly 7,000 square feet and a swimming pool. The Sperlings bought the property in the late 1990s, according to the listing agents.

An affluent coastal community roughly 100 miles from Los Angeles, Montecito is known as a celebrity hot spot which has drawn residents such as Oprah Winfrey and Ellen DeGeneres.

The market was hit hard in 2018 after one of the largest fires in California history and a subsequent mud slide, but has since recovered, the agents said.