A pair of homes belonging to the estate of late showbiz couple Carl and Estelle Reiner have hit the market in Beverly Hills, California, for $19.9 million. The two adjacent properties are primed for redevelopment, offering a buyer the chance to build a luxury compound in one of Los Angeles’ most exclusive neighborhoods, on one of its most renowned streets.

The two houses on Rodeo Drive are owned by entities linked to the Hollywood duo—famed for their work on screen, behind the camera and in comedy—and their children, including film director and “All in the Family” actor Rob Reiner, 74.

The homes are being sold by their estate, according to listing agent Kurt Rappaport of Westside Estate Agency, who bought them to the market on Monday.

One of the properties was the family home for half a century or more, he said, and the second was acquired in 2016 for $4.2 million, records show. Combined, the two homes have seven bedrooms, five bathrooms and more than 33,330 square feet of grounds, according to the listing.

“These homes are being sold as a development,” Mr. Rappaport said. “The opportunity to build two houses side by side, or one big one, on Rodeo Drive is very rare.”

Carl Reiner, an 11-time Emmy Award-winning actor, comedian and director, died last year at the age of 98. He was best known as the creator and producer of “The Dick Van Dyke Show” (1961–1965), in which he also starred.

Estelle Reiner, who died in 2008 aged 94, was an actress and cabaret singer who delivered the famed “I’ll have what she’s having” line in Rob Reiner’s 1989 movie “When Harry Met Sally…”.

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