By Erika Riggs
Malibu has 21 miles of coastline, and each section has its share of white-sand beach and ocean views. But Carbon Beach -- a coveted one-mile section -- earned the moniker Billionaire's Beach. "All of the homes along the water have beautiful views," said Joyce Rey, executive director of Coldwell Banker Previews International, but "I think it's also convenience; this [Carbon Beach] is a very convenient location to the city of Malibu and to Beverly Hills."
It's also due to the fact that unlike other Malibu homes, residences on Carbon Beach sit right next to the sand, no seawall blocking the famous views. Despite the beach access, the area is heavily guarded and private, a perfect place for CEOs and celebs alike to buy a home. Larry Ellison owns 10 properties on Carbon Beach; he purchased his latest home from former Yahoo CEO Terry Semel. Other notable owners include David Geffen, Jeffrey Katzenberg, Paul Allen and Lou Adler.
With the explosion of Carbon Beach's popularity with the billionaire set, it's not often that a home comes up for sale. In late February, Rey, along with real estate agents Chris Cortazzo, Bruce Mibach and Christopher Damon of Coldwell Banker Previews International, listed the Buff & Hensman estate pictured above, which sits on a whopping 70 feet of beach frontage, for $22.5 million.
Add a pool, "rare for Carbon Beach," Rey says, 4,797 square feet of living space and an enormous media room and you have a highly desirable property. The home was designed by Buff & Hensman in 1976 and contains the open floor plan and exposed beams indicative of the architectural firm's style. The kitchen, dining and living areas all open out to the pool and beach. An inner courtyard contains a zen garden. Two of the bedroom suites face the water. The home has been well-maintained, while still retaining the original architecture and style.
See the listing for more details.
Find more homes for sale in Malibu, or search listings in your area.
See more on Zillow:
Oracle CEO Larry Ellison Buys Malibu Home From Former Yahoo CEO
House of the Week: Wayne Gretzky's Thousand Oaks Home (VIDEO)
Leonardo DiCaprio's Malibu Home Back on the Market as a Rental
See more Houses of the Day on AOL Real Estate.
Got a tip for House of the Day? Know of an exceptional or unusual property currently listed for sale? Please email email@example.com with your suggestions and be sure to include links to listing details and photos. (Due to the volume of response, we unfortunately are unable to reply to each submission.)
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find in your area.
Find foreclosures in your area.
See celebrity real estate.
Follow us on Twitter at @AOLRealEstate or connect with AOL Real Estate on Facebook.