Billionaire Investor Gets $18 Million for Hermosa Beach House With a Disco Room

Perhaps it was the sweeping ocean vistas or nearly 40 feet of frontage on the sought-after Strand? Or maybe it was some of the more unique amenities — an expansive hot tub-equipped roof deck, and a groovy so-called “disco room” replete with a wet bar and wine cellar. Whatever the case, the allure was more than enough for Oaktree Capital investment manager Robert O’Leary to fork over a record $18.6 million for this modern home tucked away in L.A.’s South Bay city of Hermosa Beach.

Grant deeds show the seller was Tim Draper — founder of the Silicon Valley-based venture-capital firm Draper Assoc., known for funding high-profile startups like Skype, Tesla, SpaceX and CoinBase, among others — who paid $12.6 million for the beachfront vacation retreat back in spring 2011. Originally listed for a speck under $19 million, the transaction is the priciest residential Hermosa Beach sale to date, as was first reported by The Real Deal.

Custom-built in 2010, and designed by local architect Louie Tomaro, the creamy stucco and wood-trimmed structure features five bedrooms and eight baths in almost 8,000 square feet of living space boasting walnut hardwood floors and a three-story water feature, along with walls of glass providing views stretching from Malibu to Catalina and Palos Verdes. An elevator and floating staircase also travel to all four levels, and elsewhere is an attached three-car garage.

Other highlights include the entertainment-ready basement level, which hosts the aforementioned disco room, as well as a movie theater and billiard room. The main beach level holds a fireside living room and formal dining room resting across from each other, and gourmet kitchen outfitted with dark wood cabinetry, Thermador and Wolf appliances, an eat-in island and a casual dining area. There’s also a sunken family room with folding glass doors opening to a beach-side patio, and spa bath with a steam shower and sauna.

Two guest bedrooms with their own baths are spread out on the fourth floor and basement level; and the third story accommodates a trio of en-suite bedrooms, including a spacious master retreat sporting a sitting area with fireplace, private terrace, walk-in closet, and luxe tiled bath equipped with dual vanities, a soaking tub and large rain shower.

Though the grounds are compact, spanning just 0.11 acres, a 1,400-square-foot roof deck is the perfect spot to relax, complete with a six-person hot tub and plenty of room for al fresco entertaining. An added bonus: The place is just steps from the Hermosa and Manhattan Beach downtown areas and piers.