Ben Affleck’s New $20 Million L.A. Home Has a ‘Sense of Privacy and Seclusion' and 'Could Easily Be Transformed Into a Bachelor Pad': Source

The actor closed escrow on the five-bedroom property on July 24. His Beverly Hills home with Jennifer Lopez remains on the market, asking $68 million

Ben Affleck’s new home offers some peace and quiet away from the spotlight, a source tells PEOPLE.

The $20.5 million Los Angeles estate has a “sense of privacy and seclusion” and is “not trendy,” the source says.

The actor, 51, closed escrow on the five-bedroom property on Wednesday, July 24, PEOPLE confirmed, which was coincidentally his wife Jennifer Lopez's 55th birthday.

"The environment is family-friendly, but it could easily be transformed into a bachelor pad," the source continued, adding that Affleck's new neighborhood, which is home to numerous other entertainment industry A-listers, "boasts a sophisticated crowd—it's not trendy. Real establishment.”

Affleck and Lopez's shared Beverly Hills mansion remains on the market with an asking price of $68 million. The couple initially shopped the house off market in June, before publicly listing it in July, amid reports of ongoing strain in their marriage.

The couple bought the property for $60,850,000 in May 2023 after they wed in July 2022.

The same day Affleck closed on his new home, Lopez finalized the sale of her New York City condo. She sold the four-bedroom, 7.5-bath duplex, which had been on and off the market for seven years, for $23 million.

Related: Ben Affleck Buys $20 Million L.A. Home After He and Jennifer Lopez Listed Shared Mansion for Sale

Affleck and Lopez have been spending time on opposite coasts in recent weeks. A source told PEOPLE in June that they didn’t "have any summer plans together" and were "focused on their separate lives."

Lopez celebrated her birthday with family and friends at a Bridgerton-themed party in the Hamptons on July 20. Multiple sources confirmed to PEOPLE that Affleck was not in attendance for the festivities.

Lopez has also been seen riding a bike, hitting the gym, and stepping out with Affleck’s 18-year-old daughter, Violet, during her time in the celeb-favorite summer destination.

A source recently told PEOPLE that "her summer isn't exactly what she originally had planned, but she's making the best of it."

"She's always grateful for family time," the source added. "She had a great weekend with family and friends. She loves entertaining and enjoyed her birthday bash. She was in a happy mood."

Affleck, meanwhile, has spent most of the summer in Los Angeles, where he has been working on the upcoming sequel The Accountant 2 and enjoying time with his kids. In addition to Violet, he shares Seraphina, 15, and Samuel, 12, with ex Jennifer Garner.

Related: Ben Affleck Purchased His L.A. Home on Jennifer Lopez's Birthday, the Same Day She Finalized Sale on Her N.Y.C. Condo

In May, multiple sources told PEOPLE that Affleck and Lopez had begun living separately in L.A. amid tension in their relationship.

On June 12, Affleck hosted a graduation party for Samuel at a rental home in Brentwood. Lopez and Garner joined to celebrate the milestone.

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In late June, Affleck moved his belongings out of the Beverly Hills home he shared with Lopez while she was on a trip to Europe, a source told PEOPLE.

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