Last October, investor Charles Schwab listed his San Francisco home for $15 million. The property—which occupies a hilltop lot in Pacific Heights, one that offers eagle’s-eye views of the Bay and the big bridge—had been owned by Mr. Schwab since 2011, when he paid $12 million for the keys.

The home was designed by architect Gardner Daily, and built in 1941. The house is a modern-style, but not necessarily a thoroughgoing one. The emphasis on light and social facilitation is there, but modified, and the result is very refined, trading the brash optimism of a midcentury modern for a more acutely philosophical tone that is decidedly understated and very graceful.

There’s plenty of glass in the build, of course; floor-to-ceiling windows take in the Marina District, and a bank of oversized windows illuminates and liberates the staircase. There are three bedrooms and four baths in the 5,400 square feet of interior living space. Highlights among the home’s details include the black stone fireplace in the living room, and a wood-paneled reading room that looks just the ticket for losing an afternoon in search of lost time.

The property exterior is very private, with a stucco wall demarcating property from street, a set of gates finished in matte black, and a series of mature privacy shrubs giving the home the necessary reticence from prying eyes.

Charles Schwab founded the Charles Schwab Corporation in 1971. His net worth is over $8 billion.