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By Robert Frank

The ultimate bachelor pad is up for sale — with the ultimate former bachelor included.

The Playboy Mansion in Holmby Hills, in Los Angeles’ Westwood district, is being put up for sale by Playboy Enterprises for $200 million. But since the deal will be structured as a "living estate," any buyer will have to allow the mansion's famous resident — 89-year-old Hugh Hefner — to continue renting the house until his death.

Playboy magazine founder Hugh Hefner poses for photos at the Playboy Mansion in Los Angeles on Nov. 4, 2010.Jae C. Hong / AP

The listing of the 22,000-square-foot Gothic Tudor mansion comes amidst a continued overhaul of Playboy Enterprises as it seeks to shift from a racy magazine publisher to a global licensing company.

Hefner bought the mansion in 1971 for a then-record $1.05 million.

He lives in the mansion with his wife, 29-year-old former Playmate of the Month Crystal Harris. But Hefner rents his living quarters and other areas from Playboy Enterprises.

A Jan. 11, 2007, file photo of the Playboy Mansion pool.GABRIEL BOUYS / AFP - Getty Images, file

While the home has a fabled history — parties, celebrities, racy entanglements — the home is unlikely to fetch anywhere near $200 million, according to brokers. The most expensive sale in Holmby Hills is the reported $102 million paid for the larger and more elaborate Fleur de Lys Estate in 2014.

The Playboy Mansion has 29 rooms, including a catering kitchen, wine cellar, home theater, separate game house, gym, tennis court and swimming pool with a cave-like grotto.

It also has a four bedroom guest house and includes 5 acres of land. The property also has aviaries and several exotic animal pens.

The press release for the listing touts the added benefit that the Playboy Mansion is "one of a select few residences in L.A. with a zoo license."

The mansion is being listed by Drew Fenton and Gary Gold of Hilton & Hyland, along with Mauricio Umansky of The Agency.