Updated

Actors Tom Hanks and Rita Wilson are selling their side-by-side estates in the Palisades Riviera area of Pacific Palisades, the Los Angeles Times reports.

Home No. 1 -- located at 1223 Amalfi Drive -- is the smaller of the two properties on the desirable "Amalfi rim." This classic 1930s Spanish-style home on about a half-acre has four bedrooms and four bathrooms. The house on the tree-filled lot includes a step-down living room with fireplace, paneled dining room, beamed ceilings, wood floors, ironwork, and tile throughout. Asking price for this stunner? $8.75 million.

Home No. 2 -- located at 1213 Amalfi Drive -- sits on a half-acre and has seven bedrooms and six bathrooms. The 7,260-square-foot, English-style home was built in 1957 and features formal living and dining rooms, a screening room, and a pub/billiard room. Asking price for the larger home? $9.25 million.

The Times says Hanks and Wilson bought the properties in 2003 and 2007 for a little over $13 million. They also reportedly own a third contiguous property on the same street, but that's not for sale.

The properties are being marketed separately or as a combo property for $18 million.

"Both lots are virtually flat with serene views over the canyon to Will Rogers State Park, and a little peek of the ocean," the listing states.

"Although there are currently two homes on these properties, they can be replaced with a sumptuous new home similar to other mansions in the area. … Your vision can come to life in this one-of-a-kind idyllic property," the listing continues. "Transform your life and live the way you want to live."

I'd like to live that way, but have $18 million reasons I can't. Sigh. The properties are co-listed by Mary Lu Tuthill and David Offer.

Hanks has snagged lead actor Oscars for his work in "Philadelphia" and "Forrest Gump." Wilson has appeared with her husband in "Sleepless in Seattle" and produced "My Big Fat Greek Wedding" and its recent sequel.