Cameron Diaz and Benji Madden Reportedly Purchase Beverly Hills Compound for $14.7M

Cameron Diaz and Benji Madden are on the move.

The couple, who share 9-month-old daughter Raddix, recently purchased a $14.7 million compound in Beverly Hills, California, Variety reports.

The new nearly 10,000-square-foot home, which was listed by Ginger Glass of Compass, covers 1.7 acres with a massive main home and separate guesthouse, both designed by ANR Signature Collection. The residence boasts a total of seven bedrooms and ten bathrooms.

According to Variety, the main house features a double-height living room that opens to outdoor gardens and a colossal fireplace. An outdoor breakfast area, a formal dining room, and a designer kitchen with an eat-in island and updated appliances are also located on the main floor.

Upstairs, the master bedroom has its own sitting area, fireplace and private patio, as well as dual master baths and walk-in closets. Six additional bedrooms are in the main home, along with a theater room with its own bath, according to Variety.

The private backyard is dotted with native trees and has an oversized outdoor fireplace and kitchen, and a curved pool that incorporates a spa.

Diaz, 48, and Madden, 41, also own two additional properties in Los Angeles and a condo in New York City, according to the outlet.

RELATED VIDEO: Cameron Diaz Reacts to People Not Knowing She and Nicole Richie Are Sisters-In-Law

Diaz and Madden, who tied the knot in January 2015, announced the birth of their first child on Jan. 3 via Instagram. A source told PEOPLE in June, "Despite everything that's going on, Cameron and Benji are having the best year as a family. They are the perfect team and love being parents."

"For years, Cameron wanted to be a mom," added the insider. "She loves it more than she imagined."

In July, Diaz said during an interview on The Tonight Show Starring Jimmy Fallon that daughter Raddix is "the best thing that ever happened" to her and her musician husband.

"It's been heaven," she gushed, explaining that her daughter is growing "so fast" that she now understands why friends who have kids previously told her to cherish this time.

"Literally every single day, there's just leaps and bounds ... and she's not the same baby that she was yesterday," Diaz said. "Where was yesterday? Yesterday is literally gone, and today is a new day, and tomorrow will be a new day that she's a completely different baby."