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Home of the Week

Old World style in a lux South Coast setting

February 15, 2004|Ruth Ryon | Times Staff Writer

This house is in the community that had the distinction of ranking at the top of the 10 ZIP Codes in L.A. and Orange counties with the fastest-appreciating single-family residences in 2003, according to La Jolla-based DataQuick Information Systems.

The area is Newport Coast, an Orange County coastal community between Newport Beach and Laguna Beach, where homes increased in value by 51.6% last year from 2002. The median price was $1.44 million.

It's not too surprising then that there are asking prices above $10 million for a few of the 159 houses being built at Pelican Crest, one of the tonier new neighborhoods in Newport Coast. At least three houses now on the market could sell in that range, and this is one of them. The house was even filmed for the fall teaser of the Fox series "The O.C."

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About this house: Known as Villa Tesori or "House of Treasure" for its majestic views and Old World craftsmanship, the newly built home was listed last fall with much fanfare, quickly went into escrow and stayed there for weeks. But the buyers were not able to complete the sale.

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Asking price: $13.5 million

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Size: The three-story home has five bedrooms and 8 1/2 bathrooms in 12,183 square feet. It sits on a 26,588-square-foot lot.

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Features: The property has ocean and harbor views and overlooks the Pelican Hill Golf Club. It also has a cobblestone motor court with a European-style fountain, a library, an infinity pool and spa, and an exercise room or sixth bedroom. The house was built by Rob Glass, who also was the interior designer. It was designed by Bill Hablinski and Richard Manion. All have created homes for celebrities and other notables.

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Where: Pelican Crest, a gated community in Newport Coast.

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Listing agent: Sara Hinman, (949) 759-3705, and Brad Hinman, (949) 759-3732, both at Coast Newport Properties, a Coldwell Banker company, Newport Beach.

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To submit a candidate for Home of the Week, send color interior and exterior photos (copies only, please; we cannot return the pictures) and a brief description of the house, including what makes the property unusual, to Ruth Ryon, Real Estate Section, Los Angeles Times, 202 W. 1st St., Los Angeles, CA 90012; or e-mail homeoftheweek@latimes.com.

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