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Eva Longoria is so eager to dump her former compound high in the Hollywood Hills that she’s willing to endure a $1.6 million dollar gut punch to her pocketbook on the sprawling, multi-acre property she scooped up about three years ago from Tom Cruise for $11.4 million and now has available at the bargain-basement price of $9.8 million.

Laced with stone pathways that connect the various structures, the not quite three-acre spread occupies a private promontory with two self-contained and fully renovated residences, one a French Country villa with three bedrooms and three bathrooms, the other a stone-quoined manor house with four bedrooms and four bathrooms. The property additionally includes two detached studios and a small stone cottage with an unusual, completely tiled interior that features a fireplace and high-end kitchen. Numerous stone terraces provide panoramic mountain-, canyon- and city-lights views while a wooden footbridge picturesquely traverses a lagoon-style swimming pool. Marketing materials indicate the compound is being offered with an adjacent parcel located outside the driveway gates as well as proposed plans for a comprehensive renovation by renowned architect Mark Rios.

Unfortunately for Longoria, who late last year shelled out $13.5 million for an 11,000-square-foot contemporary mansion in the Benedict Canyon area of Beverly Hills and maintains a modest house above Malibu’s Zuma Beach that she bought a decade ago for $2.5 million, this is not the first time she’ll take a considerable loss on the sale of a multimillion-dollar home. Earlier this year, she dumped an 8,600-square-foot residence in a historic neighborhood above Hollywood for not quite $3.2 million, more than $400,000 less than the $3.6 million she paid about a dozen years earlier.

listing photos: The Agency