Reagan’s swanky midcentury house goes on the market

Jennifer Karmon

[Editor's note: This post was written by Yahoo! editor and blogger Mike Krumboltz.]

The odds of you living in the White House are rather slim, especially if your last name isn't Bush, Clinton or Obama. But that doesn't mean you can't live in the home of a former president -- provided you have around $5 million to spare.

A "Mad Men"-style midcentury California home that once belonged to Ronald and Nancy Reagan has gone on the market. The four-bedroom ranch house in Los Angeles' Pacific Palisades area has plenty of swanky features: a beautiful swimming pool, midcentury-modern design, and amazing views of Southern California. And don’t forget that the guy who stood toe-to-toe with Jimmy Carter, Mikhail Gorbachev, and Bonzo the monkey used to call the place home.

The home was given to Ronald Reagan by General Electric, according to CNN Money. Reagan hosted "The General Electric Theater" anthology TV series in the 1950s, and it was such a success that the good folks at GE gave the Gipper a swanky pad as a way of saying thanks.

ABC News reports that this is the residence where Reagan received Carter's concession phone call after the 1980 election. We're guessing the phone number has since been changed.

For more information on the house, check out Yahoo! Homes' slideshow and the property listing for 1669 San Onofre Drive.