The pink stucco home, which is currently the most expensive residential listing in the United States, sits on an H-shaped 6.5-acre estate, the Los Angeles Times reported Tuesday.
The mansion, which Hearst dubbed Beverly House, includes three swimming pools, 29 bedrooms, a movie theater and a disco. The compound contains four houses, an apartment and a cottage designed for security staff.
"This is the kind of home that comes on the market once in a generation," said Jeff Hyland, a Beverly Hills real estate broker and author of "The Estates of Beverly Hills."
The price tag outshines the $155 million asking price for an estate in Montana's Big Sky country and the $135 million price for the Aspen, Colo., compound being sold by Saudi Arabian Prince Bandar bin Sultan.
Attorney-investor Leonard Ross, who purchased the property in 1976, is selling the estate as part of "a lifestyle change," said Stephen Shapiro, Ross' real estate broker.