Billionaire lists a California estate designed by Wallace Neff.

After Goodwin Gaw first put his luxurious Italian Renaissance estate on the market just over two years ago for nearly $22 million, it's back on the market, this time with a new price tag.

The co-founder, managing partner and chairman of Hong Kong-based Gaw Capital Partners, which manages more than $33 billion in global real estate, is now seeking exactly $17 million for this 1.8-acre property. That's $11 million more than he paid for the place back in 2004, but the space was completely renovated in 2005 when it was introduced as a Pasadena show home, with a fully updated kitchen, a new movie theater and upgraded landscaping and mechanical systems.

The spacious motor court courtyard is complemented by an intricately carved fountain. Originally built and designed by architect Wallace Neff in the late 1920s for Harriet Skinner, widow of James Skinner, co-founder of Sears, Roebuck and Co. the cream stucco and red terra cotta roof is appropriately called "Mrs. James Skinner's House." In the 1940s it also served as the residence of J.B. Van Nuys, grandson of businessman Isaac Newton Van Nuys, founder of today's Los Angeles Van Nuys neighborhood.

The site, with grounds enclosed by walls and gates, and with frontage facing a circular driveway and paved courtyard with an ornamental stone fountain, includes a six-bedroom, eight-bathroom main residence totaling nearly 11,000 square feet of two-level living space adorned with hand-painted ceilings, marble floors, Baccarat crystal chandeliers and multiple fireplaces.

The grand entrance hall showcases a marble checkerboard patterned floor and a winding staircase. As for the main living space, there is a two-level entry hall with checkerboard marble flooring and curved wrought iron staircase that leads to formal living and dining rooms, an elegant studio study with wood paneling and a kitchen-dining room with an eat-in island, newer appliances, pantry and adjoining breakfast area. There is also a movie theater, exercise room and a partially finished basement with a temperature-controlled 2,500-bottle wine cellar.

The upper level master bedroom has a separate sitting area, walk-in closet and luxurious bathroom with double sinks and large recessed tub; and outside the resort-style lot is adorned with lawn and formal gardens and features a 50-foot swimming pool and spa, surrounded by a sun deck, desirable north-south tennis court and several spaces perfect for outdoor recreation and entertaining. The back yard is graced with a 50-foot swimming pool and spa.

Known for acquiring and redeveloping the bankrupt Roosevelt Hotel in Los Angeles in 2005, Guo was named one of the richest people in Hong Kong by Forbes magazine in 2023, with a family fortune of more than $1.7 billion. The offering is presented by Brent Chang of Compass. Click here to see more photos of 975 Orlando Road.