Diddy Officially Lists $62 Million L.A. Home Raided by Federal Agents as He Lives Primarily 'in Miami': Source

He "always planned to sell the home in L.A. once his daughters grew up and moved out,” a source with knowledge of the listing told PEOPLE of the 17,000 sq. ft. home

Sean "Diddy" Combs is selling his Los Angeles mansion amid sex trafficking and abuse allegations.

On Sunday, Sept. 8, the singer, 54, listed the massive property – which was searched by federal agents in March – for $61.5 million, PEOPLE can confirm.

According to the official listing, the 17,000-square-foot home features 10 bedrooms, 13 bathrooms and a two-story guest house.

A source with knowledge of the sale tells PEOPLE, Diddy has "lived in Miami as his primary residence for years and always planned to sell the home in L.A. once his daughters grew up and moved out.”

Diddy has three daughters. He shares Chance, 18, with businesswoman Sarah Chapman, and twins D'Lila and Jessie, 17 with model Kim Porter, who died in 2018.

The sprawling estate has several specialty rooms such as a wine cellar, a separate catering kitchen, and a theater that can seat 35 people. The guest house has a gym, recording studio and multiple suites.

Additional amenities include a basketball court, a spa, an in-ground pool with waterfall and a loggia with a barbecue, bar and pizza oven.

"The property is located on the center of one of the best streets in Los Angeles," listing agent Kurt Rappaport tells PEOPLE exclusively.

Diddy purchased the mansion in 2014 for $39 million, according to property records. It's located in the exclusive neighborhood of Holmby Hills, which is also home to the Playboy Mansion.

The rapper has taken out two mortgages on the home, both for $25.35 million, in August 2014 and May 2021, records show. Neither appear to have been paid of. The former was due to be repaid in full in August 2029 and the latter in May 2036.

The Holmby Hills house and his Miami property were raided by Homeland Security Investigations (HSI) agents on March 26 amid sex trafficking allegations in two lawsuits.

"Earlier today, Homeland Security Investigations (HSI) New York executed law enforcement actions as part of an ongoing investigation, with assistance from HSI Los Angeles, HSI Miami, and our local law enforcement partners. We will provide further information as it becomes available," a representative for the agency said in a statement to PEOPLE at the time.

Numerous people have accused Diddy of sexual assault and similar allegations, with the sixth and most recent coming forward in May 2024.

Diddy denied the claims made by several women in December 2023, writing in part, “For the last couple of weeks, I have sat silently and watched people try to assassinate my character, destroy my reputation and my legacy." The statement obtained by PEOPLE continued, “Sickening allegations have been made against me by individuals looking for a quick payday.”

In May, surveillance video surfaced showing the rapper physically abusing his ex-girlfriend, singer Cassie Ventura, during a 2016 altercation that matches allegations she made in a now-settled lawsuit filed last November.

After the footage was published by CNN, Cassie, 38, released a statement on Instagram, writing, "Domestic Violence is THE issue. It broke me down to someone I never thought I would become. With a lot of hard work, I am better today, but I will always be recovering from the past."

Last month, Diddy filed to dismiss a civil lawsuit from former producer Rodney “Lil Rod” Jones who sued him for misconduct, which includes sexual harassment, drugging and threatening.

The motion to dismiss was filed in federal court in the Southern District of New York on Monday, Aug. 26 and obtained by PEOPLE. In it, Combs claims that Jones is using the suit is to "generate media hype and exploit it to extract a settlement."

The singer alleges that Jones' complaint is "replete with legally meaningless allegations and blatant falsehoods." In addition to denying the producer's allegations,

Combs claims that he has tried to "promote his personal brand and profit from exposure."

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Combs also requested that the sexual assault allegation against him be dismissed "because Jones fails to plead the most basic facts, such as where and when any purported instance of assault occurred or what allegedly transpired," the motion reads.

In an interview with Rolling Stone published on Tuesday, Aug. 27, Jones spoke out about the backlash he has faced from the lawsuit and alleged that he has received "threats" and now requires security when he is performing. "I’ve had many nights and weeks and months of suicidal thoughts. It’s the music that has kept me living all my life," he said.

If you or someone you know is considering suicide, please contact the 988 Suicide and Crisis Lifeline by dialing 988, text "STRENGTH" to the Crisis Text Line at 741741 or go to 988lifeline.org.

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