A lake near the ocean’s edge
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Listing materials for the massive 14,000-square-foot estate at 2681 Idle Hour Lane, one of a small handful of cul-de-sacs tucked away west of the UC San Diego campus between the Scripps Institution of Oceanography and Torrey Pines Gliderport, bill the home as “The Ultimate La Jolla Family Estate property” that “offers incomparable luxuries of relaxation and recreation.”

2681 Idle Hour Lane, La Jolla, 92037

Built in 1996, the main residence and guest house combine to offer seven bedrooms and a total of 14 baths. Interior appointments include the requisite chef’s kitchen with dual ranges, butcher-block island with bar seating for six, and a wall of roll-down doors to conceal countertop appliances when they’re not in use.

Dark woods and stone finishes throughout

“Expansive, fresh, beautifully appointed living areas” make extensive use of dark woods and stone finishes throughout in “taking a sleek, fresh approach to classic architecture,” and the master suite sports a unique freestanding glass-and-gold shower in the center of the bath-slash-dressing room.

A disco with mirrored ceilings

There’s also a wood-paneled game room with library loft and a home theater.

There’s a hedge-surrounded tennis court

The guest house, meanwhile, boasts another recreation room and a disco with mirrored ceilings, custom lighting, and full bar. The property also offers roughly 3000 square feet of “garage parking for your seven classic automobiles and your extended golf cart for heading to the beach,” which is accessed via “a coveted Black’s Beach Gate Key for easy vehicle beach access.”

The home was re-listed in mid-February with a reduced asking price

Outside, the amenities continue throughout nearly three acres of gate-accessible “expansive lawns surrounded by layered foliage.” There’s a hedge-surrounded tennis court, koi pond, “rock-climbing arch, skateboard park, volleyball court, pool and outdoor fireplace, fire feature and barbecue kitchen gathering areas.” The property features a private lake with stone rowboat dock.

Public records indicate the home was purchased by Avalon Capital Partners, LLC, in 2005 for a reported $17.7 million. Avalon is a private investment firm owned by Ted Waitt, cofounder of the Gateway personal computer company that enjoyed a peak in popularity in the late 1990s and early 2000s. Waitt was instrumental in relocating the company’s home base from Sioux City, South Dakota to La Jolla in 1998 — the firm then moved to Poway in 2001 before departing San Diego for Orange County in 2004 and eventually seeing its operations absorbed by the Taiwanese company Acer.

Current Owner: Ted Waitt

Beds: 7

Baths: 14

List Price: $19,980,000

This isn’t the first time on the market for the Idle Hour estate — in late 2015 the Los Angeles Times reported that Waitt had listed the home for sale shortly after purchasing a Beverly Hills mansion for $10 million that he intended to demolish and replace. The home spent nearly a year on the market before the listing was withdrawn in October 2016 without attracting a buyer with its $22,900,000 price tag.

After another year off-market, the home was re-listed in mid-February with a reduced asking price of $19,980,000 that remains unchanged to date.

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dwbat March 7, 2018 @ 2:32 p.m.

RE: "The Ultimate La Jolla Family Estate property" Plus "Black’s Beach Gate Key" Not so sure families would be interested in going to a nude beach!


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