Former Houston Rockets owner Leslie Alexander first listed his La Jolla beachfront home back in the spring of 2017, asking $16.4 million. Two and a half years later, and the home has resurfaced on the open market priced at $17.75 million. A price hike of over one and one-quarter million is designed to keep offers in the comfort zone—Alexander paid $15 million for the property about a decade ago.

The 9,000 square-foot residence is situated on La Jolla Shores Beach. Its exterior is modern, and its interiors put a very warm spin on contemporary—a bit of deco and a host of luxury materials may be spotted along the way. Backlit tray ceilings, natural-toned hardwood floors and cabinetry, support columns, and long, sculpted lines help define the home. The staircase boasts a decorative balustrade and is illuminated by a roof light, one of the finer details in the house.

There are only 3 bedrooms in the home, so much of the floor space is dedicated to the shared living spaces and the master. Both achieve substantial scale which is enhanced by retractable glass that opens broadly onto the beach and Pacific; the master also receives a gas fireplace, and a walk-in closet that is huge for a beach house.

Mr. Alexander founded revenue management consulting firm The Alexander Group in 1980. He owned the Rockets from 1993 to 2017. His net worth is around $2 billion.