Sylvester Stallone and Jennifer Flavin are once again looking to unload their Hidden Hills property ... they just put it back on the market, only 3 months after pulling the original listing.
Real estate sources tell TMZ ... the famous couple's estate is now listed for $21.3 million, which is a $1.2 million price reduction.
Remember ... Sly and JF put the place up for sale back in December for $22.5 million, but it never sold, and in February they took it off the market.
We're told they took the home off the market in February because it was listed during the holidays, and after waiting a couple months they feel it's being relisted at a better time.
The 4-bedroom home is 10,460 square feet with 8 bathrooms ... and it's decked out with a pool, home theater, gym, horse barn and stables, plus a riding area.
The property rests on 2.26 acres with picturesque mountain views ... and there's also a pool house and a guest house, plus a koi pond, vegetable garden and 100+ avocado and citrus trees on the expansive lot.
The master bedroom stands out ... it comes with dual walk-in closets, a private balcony and a sitting area.
Sly and Jennifer are no strangers to L.A. real estate ... as we first reported, he sold his Beverly Hills home to Adele for $58 million at the beginning of last year, and then in March 2022 he and Jen bought the Hidden Hills home.
Our sources say Sylvester and Jennifer are selling the place because they spend the majority of their time in Florida, where they own a $35 million mansion in Palm Beach.
Jordan Cohen of RE/MAX ONE holds the listing.