Source: People Magazine

Oscar-winning actress Penelope Cruz’s home in the Hollywood Hills neighborhood of Los Angeles is less ostentatious than your usual celebrity pad. The 3,334-square-foot house, which Cruz shares with husband Javier Bardem and new baby boy Leo Encinas Bardem, has been on the market over 90 days. Its listing price was recently reduced from $3.695 million down to $3.15 million, still considerably higher than the median Hollywood Hills home value of $976,400.

Cruz and Bardem met in 1992 on the set of “Jamon, Jamon” and co-starred in “Vicky Cristina Barcelona,” in which Cruz won an Oscar for Best Supporting Actress. The two were hitched in a private ceremony in 2010 and welcomed their first child in January 2011.

Cruz purchased the home in 2005 for $3,138,030. Her newly expanded family may be the catalyst for the Spanish star to sell the 3-bedroom, 2-bath house.

The piece of Hollywood Hills real estate is located in a cul-de-sac near the Sunset Strip. Built in 1956, the home has been completely updated, resulting in a Balinese-modern style. Although Cruz’s home is on the smaller side, at least in terms of celebrity real estate, the estate boasts high ceilings and an open-floor plan.

Carved-wood doors open to a private courtyard, fountain and front entrance. The home has French doors throughout, bamboo floors and enormous floor-to-ceiling windows to capture the California sunshine. The gourmet kitchen has stainless-steel appliances and granite counter-tops. Outside, the home has a large patio, in-ground heated pool and luxurious tented cabana.