Graceland Mansion was named after the previous owner's mother, Grace. The official address: 3764 South Bellevue Boulevard. Elvis was twenty-two when he bought Graceland for $100,000 in March, 1957. He had already recorded "Heartbreak Hotel", performed on the Ed Sullivan Show, and saw his first album ( Elvis Presley ) reach million-plus dollars in sales.Graceland would become Elvis' sanctuary from what would soon be the grueling grind of movie-making, music-making, partying, and women.