The mid-century modernist houses designed by cult status architect Richard Neutra are some of the most coveted residences in Los Angeles, where most of his projects were built. Tom Ford owns Neutra’s 1955 Brown-Sidney House; Francois Pinault Junior recently purchased the 1959 Singleton House (previously owned by Vidal Sassoon); and Mitch Glazer calls home the 1959 Oyler House.

It is rare that a Neutra house hits the open market, let alone at a relatively affordable price. Which is what happened recently when The Hailey Residence, 1959, was offered by Crosby Doe, the uber-agent for architectural homes, at $895,000. “Richard Neutra’s office achieved some of its most creative architectural solutions when confronted with the necessity of making compact space function comfortably and efficiently through varied social circumstances,” explains Doe’s notes on the house. With just two bedrooms, the Hailey Residence might be small but includes all the Neutra signatures that architecture aficionados would look for: generous open plan living areas, a soft mobile wall that creates a den and walls of glass that open to an outdoor deck and look to the Hills beyond Cahuenga Pass.

When a Neutra house like this appears for sale – perfectly preserved with period furniture and icons of design but updated with air-conditioning and a temperature-controlled wine cellar – you have to act fast. Just as we went to press with this article the Hailey Residence was sold – no word yet on whether the new owner is another illustrious name or just a lucky individual who appreciates Neutra’s modernist vision for living.