Almost three months after Jim Demetriades hoisted his extravagant Los Angeles compound known as Villa Theos on the market with an impressive $85 million price tag, the veteran tech entrepreneur has now put another smaller house he owns right next door up for sale, asking a smidge under $12.5 million.
The founder and CEO of Kairos Ventures has owned his larger property in the Beverly Hills Post Office area since 2000. That’s when he and his then-new wife Nancy paid $8.4 million for a single house and then began piecing together a gated collection of red brick and stucco structures that cost tens of millions of dollars to assemble and feature a total of 13 bedrooms and 16 baths in 28,000 square feet, all of it resting on two parcels of land spanning over 2 acres.
Along the way, in 2005, the native of Greece doled out around $6.5 million more for the house next door, a contemporary structure originally built in 1956 and previously owned by Kareem Abdul-Jabbar. Records show the legendary Lakers basketball center acquired the place for roughly $2.2 million in the early 1990s and subsequently added an indoor sports court and a gym with a spa and a steam room. The six-time NBA MVP resided there until summer 2001, at which time he sold the place for $500,000 more than he originally paid.
Sited atop a promontory in the desirable Beverly Crest neighborhood, on almost an acre of land overlooking sweeping city lights and ocean vistas, the four-bedroom, five-bath home is hidden away behind a lengthy gated driveway. Inside, a little more than 6,300 square feet of renovated living space boasts soaring ceilings and vast walls of glass providing seamless indoor/outdoor environs.
