Property on the cutting-room floor

While her billionaire father, Larry Ellison, continues to collect homes in Malibu’s Carbon Beach,

Megan Ellison appears to be paring down her portfolio in the Hollywood Hills.

A limited liability company connected to the film producer has sold a modern home in the Mount Olympus area for $4.07 million. The buyer was a trust linked to “The Real Housewives of Beverly Hills” personality Teddi Jo

Mellencamp and her husband, security technology entrepreneur Edwin Arroyave.

Wrapped in a facade of horizontal wood panels, the multilevel house has five bedrooms and six

bathrooms within a little more than 4,300 square feet of living space. Open-plan living spaces include a chromed-out kitchen, living and dining areas and den. The bathrooms and closets are finished in marble and zebrawood.

Automatic Fleetwood doors on two levels extend the living space outside. Decking surrounds a swimming pool and spa.

The property had been listed at $4.395 million.

It previously sold in 2015 for $5.25 million, records show.

Kurt Rappaport of Westside Estate Agency represented both buying and selling parties.

Ellison, 31, is the founder of Annapurna Pictures. Her producer credits include “American Hustle” (2013), “Lawless” (2012), “Zero Dark Thirty” (2010) and “True Grit” (2010). Last year she produced the films “Detroit,” “Downsizing” and “Phantom Thread.”

Mellencamp, the daughter of musician John Mellencamp, this year joined the cast of Bravo’s “The Real Housewives of Beverly Hills.”