The walled and gated compound has hillside and canyon views. There are five bedrooms and 6 1/2 bathrooms in 7,100 square feet of living space on more than half an acre.
The living room features cathedral beamed ceilings, walnut plank floors and French doors that open to decks with views. The multilevel home, built in 1992 and centered on a courtyard, has an eat-in kitchen, an upstairs master bedroom suite with his-and-her closets, a fitness room and a media room leading outside to a swimming pool and spa.
The courtyard contains a meditation garden with a fountain and fire pit. A two-story guesthouse is adjacent to the pool.
The versatile Simpson, 25, made her Broadway debut as Roxie Hart in "Chicago" last fall. She starred in the 2004-05 reality TV series "The Ashlee Simpson Show" following a regular stint on "7th Heaven" (2002-04). More recently she appeared on "Melrose Place" (2009) but is no longer on the show.
She released the No. 1 albums "Autobiography" in 2004 and "I Am Me" in 2005, followed by "Bittersweet World," in 2008. She is the younger sister of pop star Jessica Simpson, for whom she was a backup dancer.
Fall Out Boy bassist and lyricist Wentz, 30, has business ventures including a clothing line and nightclubs.
Simpson bought the property in 2007 for $4.5 million, according to public records, which also show comedian Rita Rudner as among the house's former owners.
Jory Burton of Sotheby's International Realty, Beverly Hills, has the listing.
Rocker outgrows Silver Lake gem
Kevin Griffin of the alternative rock band Better Than Ezra has put his Silver Lake home on the market for $1.65 million.
The Tony Unruh-designed steel, glass and wood house has expanses of windows, decks on two levels and city light views, blurring the distinction between the indoors and the outdoors.
When the singer-songwriter-guitarist and his wife, Laurel, bought the multistory house in 2006 for $1,595,000, they felt fortunate to find it.
"We moved here after the hurricane in New Orleans," Kevin Griffin said. "We didn't have a lot of time, and I was getting discouraged looking."
The houses the couple saw either needed a lot of work, he said, or had "no discernible architectural reference point."
"This house was a labor of love for the previous owner for five years," Griffin said. "They took a 1,200-square-foot '50s post-and-beam house and made it 2,900 square feet."
And the three-bedroom, three-bathroom house was within their price range.
"It had style, history, all new plumbing, all new wiring. Instead of being cantilevered, it used girders driven into the bedrock," he said. "We were there at the right time. It was just a no-brainer."
When the Griffins moved in, they had one child. "So now we have 13-month twin boys. That said, a three-bedroom house isn't cutting it for us."