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Tim the toolman set to sell his house for $1.95 million

TIM Allen is selling his Hollywood home for $1.95 million.

The 'Home Improvement' star - who is known for playing Tim 'The Tool Man' Taylor in the 90s sitcom - looks set to make a cool profit on the property after purchasing the pad for a reported $1.4 million three years ago.

The three-bed abode was built in 1963 and features plenty of luxuries, including a state-of-the-art kitchen complete with a swing-out stone island which seats 10 people.

The Los Angeles retreat, which is situated just off the famous Mulholland Drive, is a great space for entertaining.

Outside lies a rock wall and hedged fence, but you're unlikely to see Tim The Tool Man's pal Wilson - played by Earl Hindman in the comedy - popping his head over this one.

Failing that, there is a fire pit, dining and decking space which would be ideal for schmoozing some showbiz pals.

It's quite easy to continue the party inside with the huge living room, which comes complete with a fire place.

And what better for a booming bash than some music blasting out of the property, which is where the sound systems throughout the house come into play.

What's more, those keen on a big shower space will enjoy the 'Toy Story' star's two-person walk-in steam shower in the master bathroom.