Jim Demetriades, a seasoned tech entrepreneur, has listed a second, smaller home he owns next door for sale for just under $12.5 million, nearly three months after listing his opulent Los Angeles compound known as Villa Theos for an astounding $85 million.
Since 2000, the creator and CEO of Kairos Ventures has been the owner of his larger property in the vicinity of the Beverly Hills Post Office. At that point, he paid $8.4 million for a single house with his then-new wife Nancy, and they started building a gated compound of red brick and stucco buildings that took tens of millions of dollars to put together. The compound has 13 bedrooms and 16 bathrooms spread over 2 acres, and it is all situated on two parcels of land.
Along the way, in 2005, the Greek native paid an additional roughly $6.5 million for the modern home next door, which was Kareem Abdul-Jabbar’s property when it was first completed in 1956. According to records, the storied Lakers basketball facility paid about $2.2 million for the property in the early 1990s. After that, it constructed an indoor sports court, a gym, and a steam room and spa. The six-time NBA MVP lived there until the summer of 2001, when he sold it for a $500,000 profit over what he had paid.
Situated on a prominent bluff in the coveted Beverly Crest community, the four-bedroom, five-bathroom residence spans about an acre and offers panoramic views of the ocean and city lights. It is concealed behind an extensive gated road. Inside, remodeled living space spanning slightly over 6,300 square feet features expansive glass walls and high ceilings that create an uninterrupted indoor/outdoor environment.
Highlights include an office and a library loft, as well as a subterranean living area with a particularly striking fireplace and wet bar. Under a beautiful chandelier, a formal dining room awaits you, and the remodeled kitchen features an eat-in island, top-notch stainless equipment, and a breakfast nook that opens to a patio heated by a fireplace.
There’s a main suite elsewhere in the home with a living area, a private balcony, and an opulent bathroom with a glass-enclosed shower and spa tub; outside, the grounds feature a swimming pool and plenty of areas perfect for entertaining and relaxing al fresco. On the property are also a four-car garage and a motor court.
See photos:
