Elvis Presley's Palm Springs honeymoon retreat is back on the market with its price slashed by over 25 percent.

Last year, the honeymoon hideaway was listed for $9.5 million, a number which has now dropped to $6.93 million.

Elvis purchased the home in 1967 for $21,000 and spent his honeymoon with Priscilla Presley there.

"Their daughter, Lisa Marie Presley was born exactly nine months later, on February 1, 1968," notes a webpage for the home.

The 4,695 modernist home, designed by William Krisel, includes dining and living rooms, a bar, a breakfast bar, four bedrooms, along with five bathrooms.

The property features a pool, a tennis court and a fruit orchard.