A newly remodeled estate in a private gated community in Diamond Bar, California, is headed to auction without reserve.
The total renovation was completed about six months ago, said Randy Haddaway, the founder and CEO of Elite Auctions, who will handle the June 1 auction.
Bill Etreby—the former CEO of pharmacy software company Etreby—purchased the home, which is east of Los Angeles, in 2005 for $2.675 million, according to public records. Mr. Haddaway said Mr. Etreby spent approximately $2 million updating the home’s interior, exterior and technology.
The property spent a few months on the market, he said, asking $6.48 million at the end of December, according to public listing records. Mr. Haddaway said Mr. Etreby took the home to auction because he wanted a “time-certain” sale, as he now spends most of his time at his home in Palm Beach, Florida.
“He doesn’t want to wait out the traditional real estate market,” Mr. Haddaway told Mansion Global.
Mr. Etreby wasn’t immediately available for comment.
The 7,249-square-foot Mediterranean-style mansion has six bedrooms and seven-and-a-half bathrooms, including an extensive master suite that features a Jacuzzi, a sitting area with a fireplace and two balconies overlooking the property’s mountain view.
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