Richard Simmons' Estate Slashes Price of Hollywood Hills Home

Richard Simmons' estate is looking to make a deal because the late fitness icon's longtime Hollywood Hills home just got a major price cut ... TMZ has learned.

According to property records obtained by TMZ, Simmons' estate knocked a hefty $410k off the original asking price on Saturday. The house first hit the market in June for $7 million, but now the property can be yours for a slightly more reasonable $5,889,999.

And there's plenty of real estate to justify the nearly $6 million price tag. As we previously reported ... the 4-bedroom, 5-bathroom stunner features just over 4,000 square feet of living space on a half-acre lot. The pad includes a rare circular swimming pool and a dedicated pool house.

The home boasts a 4-room, 2-level primary suite complete with a dressing room, oversized bath, and an upper-level equipped gym. There's also a secondary guest suite and a separate upstairs den.

Simmons lived on the property for decades before his sudden death last July. We broke the news ... the beloved fitness star was found unresponsive in the home by his longtime housekeeper, Teresa Reveles.