The story follows Jake Scully, a struggling actor in Los Angeles who, after losing his home and job, is offered a temporary place to stay in a luxurious Hollywood Hills home. From this house, he spies on a beautiful woman through a telescope, watching her perform a seductive dance each night.

Soon, Jake witnesses what appears to be her brutal murder. Obsessed and suspicious, he investigates — and uncovers a twisted web of deception, adult films, and identity swapping. His quest leads him deep into the underbelly of the porn industry, where he meets adult film actress Holly Body (played by Melanie Griffith), whose role in the mystery becomes central.