Updated

Glitz and glamour have forever been entwined with Hollywood. So it's no wonder that this stunning 1-acre estate overlooking the Pacific Ocean in Laguna Beach has a Hollywood connection (or two) to tout. And in addition to its storied past, the estate now boasts a price cut.

The estate with its four-bedroom, four-bathroom main house and two guest cottages is now listed for $19.9 million. It was previously listed for $24.95 million when it was delisted in July.

Its Hollywood connection dates to its being built in 1929 for a family member of Hollywood icon D.W. Griffith, known as the "inventor of Hollywood." Local legend has it that the estate was used as a backdrop for a few feature films.

The estate certainly offers a range of unique filming backdrop possibilities given that it has its own lighthouse and a saltwater pool carved out of rock and replenished by the ocean itself. Laguna Beach has been a popular film location over the years because of its many coves and beaches.

The listing notes that the art director of "Mutiny on the Bounty" was involved in the home's original design. If we're talking about the 1935 version of the film, that would be Cedric Gibbons, the man who designed the Oscar statue and one of 36 founding members of the Academy of Motion Picture Arts and Sciences. He was art director at MGM from 1924 to 1956, working on roughly 1,500 films.

Perhaps the home's most impressive feature is the spectacular ocean view, says listing agent John Stanaland.

"It just has an amazing feel on the property," he says. The home has private access to the beach below through a zigzag staircase built in front of the rock wall on which it stands. Outsiders could conceivably climb the rock wall, but it's unlikely, so the beach provides a wonderful, serene privacy.

The cottage-style main home has been updated while maintaining its historic feel, Stanaland notes. Reclaimed items including a ship's staircase, porthole windows, and impressive millwork offer up an oceanic vibe. Wood beam ceilings harken to the days of sailing ships.

The lighthouse includes a viewing room and bathroom. A spacious patio behind the house provides ample entertaining space for parties and other events. A cobblestone path winds its way past picturesque gardens, lawns, and the guest cottages.

One can only imagine the amazing oceanfront sunsets visible along that path. It's easy to see why Hollywood came calling in the 1920s.