BEVERLY HILLS—A Beverly Hills estate, previously owned by the late television producer Michael Filerman, is set for a makeover that will make the property eligible for a reality television series.

The property went on the market for $5.5 million in January and was recently purchased by real estate agent Josh Flagg on June 3 for $4.8 million.

Flagg, also known for his appearances on the Bravo hit television series “Million Dollar Listing,” has major renovation plans for the 5,000-square-foot property. He plans to rebuild and expand the estate to approximately 8,000 square feet.

The estate is located in the heart of Beverly Hills among other celebrity home owners including singer Paul McCartney and writer and producer Jenii Kohan.

The project is scheduled to take about two years to complete.