California Dreaming

What: Three-story Mediterranean-style estate with seven bedrooms, 11 full and three half-baths in about 13,000 square feet on 5.8 acres.

Where: La Jolla, Calif.

Amenities: Tennis and racquetball courts, gym with full bath, home theater in the basement, mosaic-tiled lap pool with spa. Staff quarters with two bedrooms and two baths, and a one-bedroom guest suite.

Asking Price: $24.5 million

Opening Bid*: $21.9 million

Listing Agent: Bonnie Adams Coldwell Banker Residential Real Estate, 858-456-3256

Due Diligence: This estate sits on one of the largest privately owned oceanfront parcels in San Diego County, according to its listing agent. The owners, David Dunn, a retired chairman of Iomega Corp., a San Diego-based data-storage company, and his wife, Marilyn, paid $5 million for the property in 1989 and built the residence in 1994. The home's living room measures 1,131 square feet and has maple floors with French limestone. A master-bedroom suite contains dual dressing rooms. Mr. Dunn says the home has been on and off the market since 2002 and that he and his wife plan to relocate to something smaller in the area once it sells. San Diego continues to be among the priciest residential real-estate markets in the nation. The median price of a single-family home in April reached $484,000, up 10% from the same period last year, according to John Karevoll at DataQuick Information Systems.

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*The opening bid is Weekend Journal's estimate of a reasonable starting point for negotiations to buy the property, based on past sales, prevailing market conditions and interviews with local real-estate experts.

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