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Canadian HGTV stars Jonathan and Drew Scott have been investing in real estate for well over two decades, beginning with a modest $200,000 cottage they bought directly out of high school. Property records now reveal the 42-year-old identical twins, whose elephantine “Property Brothers” home-improvement empire encompasses several TV shows, web series, and original music, have acquired their biggest project to date: a $9.5 million estate in the Westside L.A. neighborhood of Brentwood.

Although it’s worlds apart from what anyone would consider cheap, the new Scott estate was not-so-subtly marketed as a very A-list fixer-upper or teardown; the “trophy property” features an elegant 1930s mansion that “could be renovated or replaced,” per the listing.

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Specifically, the property is comprised of two side-by-side lots in Brentwood’s exclusive Mandeville Canyon that combined, total approximately one acre of flat land. The larger parcel includes the elegant main house, originally designed by acclaimed Old Hollywood architect Gerard Colcord. The East Coast Colonial-style estate offers a sprawling front lawn, classic red brick porch and jade green shutters that nicely contrast with the home’s milky white siding.

Inside, gracious formal spaces include a dining room with wainscoting and sets of original French doors, a living room/sunroom combo with fireplace, a study and kitchen with full retinue of restaurant-quality stainless appliances. An upstairs master suite with its own fireplace has views of the gardens, and the entire 6,000 sq. ft. manse appears exquisitely maintained.

The second parcel contains a full-size, north/south facing tennis court, guesthouse, gazebo, and a pool surrounded by a brick sunbather’s terrace. Both lots feature rolling lawns shaded by breathtaking liquid amber and native sycamore trees, enhancing the bucolic, park-like atmosphere. The estate was sold by a non-famous family who appears to have owned the parcels for well over 20 years.

The Scotts will inevitably want to renovate the compound in their signature style, at the very least. And they’ve got time — the pair recently finished putting their contemporary design stamp on two side-by-side homes they own in L.A.’s Windsor Square neighborhood. They also appear to have an ownership stake in a third Windsor Square property, a renovated mansion recently listed with a near-$7 million pricetag.

But their new fixer-upper will present an entirely different sort of challenge, one where the stakes are considerably higher than any project they’ve tackled to date. Brentwood is one of the wealthiest neighborhoods in Los Angeles, and the high-risk, high-reward profits there are potentially many millions of dollars. It all depends on how extensively (and expensively) they choose to upgrade their new digs. One thing’s certain — all the drama would make for great TV.

Mary Lu Tuthill held the listing; Kennon Earl of Compass repped the Scotts.

Launch Gallery: Inside the Property Brothers’ Brentwood Home

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By ev3v4hn