Elvis Presley’s ‘Graceland West’ To Hit Auction Block This Month

Elvis Presley's Palm Springs, Fla., residence - dubbed "Graceland West" - is all set to hit the auction block later this month.

The Los Angeles Times broke news of the auction noting that the estate will go under the hammer Oct. 25. A starting bid has yet to be established. The home is also available for sale at $2.59 million and two open houses are scheduled for the weekend.

Graceland West was one of the two properties the King of Rock and Roll owned at the time of his death in 1977.

As the story goes, Reno Fontana - a big fan of Elvis Presley (and a self-proclaimed "Elvis Promoter") - purchased the home from a Japanese businessman in 2003 for about $1.25 million and dubbed it 'Graceland West'.

Over the years, he used the estate to not only promote Presley, but also used it to air the King of Pop Michael Jackson's live memorial service in 2009. However, the bank foreclosed on Fontana and another investor Rade Raicevic took over the home. Raicevic wanted to sell it off for $4 million, but he also ran into financial trouble and in 2012, the U.S. Bank National Association took over the home. 

Graceland West hit the listing market for almost $4 million last year. The estate has a 5,040- square-foot home, sitting on a prime 2 acre lot.

Comprised of five bedrooms and seven bathrooms, the home has some interesting interior features.

One of the rooms has chessboard print flooring with cardboard cut-outs of Elvis Presley planted right in the middle of the room. Boasting of mixed ceilings and flooring, the house has glass windows and wooden doors. Exclusive features include an enclosed spa, a wet bar and a 'jungle room'.

Outside, the home has ample recreation space, a garden and sitting area and a kidney-bean shaped pool as well. Check out the photos of the estate here.

According to the Zillow Blog, Presley recorded a few songs like "Blue Spanish Eyes", "Are you Sincere" and "Sweet Angeline" in the house.

Elvis Presley had several properties in and around the country. After his passing, the Elvis Presley Trust created Elvis Presley Enterprises to handle its operations and all assets that belonged to the legendary singer.

Presley's main abode, Graceland, is located in Memphis, Tenn. The white-columned mansion has been declared a National Historic Landmark.

The "Jailhouse Rock" hitmaker's honeymoon home in Palm Springs had also been offered for sale at $9.5 million earlier this year, but is off market as of now. Presley's Beverly Hills home sold for $14.5 million. Peter Morton, co-owner of Hard Rock Café, sold the Trousdale Estates residence in a pocket listing after renting it out for $45,000 a month.