Published Tuesday, 23rd February, 2010 at 3:24 PM

Pete Wentz and wife Ashlee Simpson have placed their luxury Los Angeles mansion on the property market.

The musical couple purchased the home – which is situated in Beverly Hills and has a 90210 zip code – in 2007 for $4.5 million, but will now sell it for just $4 million.

The mansion, which is a Mediterranean-style villa, has five bedrooms and six bathrooms, as well as a gym, a media room and a swimming pool.

Ashlee and Pete have revealed that they want to have more kids. they already have one son together – Bronx Mowgli.

Pete Wentz And Ashlee Simpson Selling Beverly Hills 90210 Mansion