'Selling Sunset'' s Jason Oppenheim Reveals Why He's Listing $8M Home Less Than a Year After Buying It

"I did a pretty extensive 7-figure renovation," Jason Oppenheim tells PEOPLE of the home, which he purchased in October 2020

Jason Oppenheim
Photo: Jamie McCarthy/Getty; Noel Kleinman/ The Oppenheim Group

Jason Oppenheim is preparing to let go of the Los Angeles home he bought less than a year ago. The Selling Sunset star, 44, tells PEOPLE why he's listed the house for sale despite still being in love with it.

"I'm not certain I want to sell it, I'm more inclined to lease it because I love the house so much. But I decided to put it on the market both for sale and for lease regardless. I'm always a seller at the right price," Oppenheim says of the mansion he purchased last October in the Los Angeles neighborhood of Mount Olympus.

He adds, "I think it's still likely that I'll move back to that house at a later date. I absolutely love the house and I love the area."

Jason Oppenheim house for sale
Noel Kleinman/ The Oppenheim Group

The 4,874-square-foot property was built by Avengers actor Jeremy Renner in 2008, the Los Angeles Times previously reported, and property records show the star sold the property in 2013.

"This house is special for many reasons," Oppenheim tells PEOPLE. "First, it's extremely private and well located. Second, it's got a huge yard for a house in The Hollywood Hills. Third, it's got a very impressive city view. Fourth, it has stunning 20-foot ceilings with walls of glass. And lastly, it has a very iconic and timeless style to it."

Jason Oppenheim house for sale
Noel Kleinman/ The Oppenheim Group

The Netflix star and founder/president of the Oppenheim Group previously told PEOPLE last year that while he wasn't planning on moving originally, he was "always looking for special properties, and when I saw this house I just fell in love with it."

Jason Oppenheim house for sale
Noel Kleinman/ The Oppenheim Group

He said he snagged the four-bedroom, four-bathroom home in an off-market deal after finding that it checked "so many important boxes that I look for in a property."

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Jason Oppenheim house for sale
Noel Kleinman/ The Oppenheim Group

According to Realtor, Oppenheim previously rented the home out for $49,000 a month when he decided to not make it his permanent residence.

Originally purchased for $5,125,000, per the outlet, Oppenheim is now asking $7,995,000 for the space, which is being offered fully furnished.

Jason Oppenheim house for sale
Noel Kleinman/ The Oppenheim Group

Oppenheim attributes the significant price hike to the work he did on the house since buying it. "I did a pretty extensive 7-figure renovation," he says. "Most of it is cosmetic — a lot of work in the movie theater, as well as audiovisual throughout the house, painting, lighting, and landscaping."

"I built a bar, I built a wine room and just turned it up a notch, as well as furnished it," he adds.

Jason Oppenheim house for sale
Noel Kleinman/ The Oppenheim Group

RELATED VIDEO: Selling Sunset's Jason Oppenheim Shows Off His $5.1M L.A. Mansion's 'Gothic' Hollywood Makeover

Looking ahead, Oppenheim — who says he is the agent on the property and "always" represents himself — also explains whether or not fans can expect to see the home's listing on season four of Selling Sunset, which is currently in production.

"You can expect to see the home on upcoming seasons of Selling Sunset," he tells PEOPLE exclusively.

Selling Sunset
Selling Sunset cast. Lindy Lin/NETFLIX

In July, Oppenheim's co-star Chrishell Stause revealed that the pair are dating in a series of PDA-filled photos posted to her Instagram

"Chrishell and I became close friends and it has developed into an amazing relationship," Oppenheim, who is Stause's boss at the Oppenheim Group real estate firm, told PEOPLE at the time. "I care about her deeply and we are very happy together."

Chrishell Stause Jason Oppenheim
Chrishell Stause/Instagram

Stause's photos of the Selling Sunset cast vacationing together in Italy included two photos of her and Oppenheim. In one shot, she is planting a kiss on his head, and in another, he's going in for a kiss on her neck.

A representative for Oppenheim said at the time that the pair got together recently. A rep for Stause confirmed, "they are happily together."

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