The billionaire cofounder of Gateway Inc. has sold his $18 million Los Angeles mansion

Ted waitt bird streets houseRichard HornThe Hollywood Hills home is set high above the Sunset Strip, with celebrities and moguls populating the neighbouring addresses.

Ted Waitt, the billionaire co-founder of computer hardware company Gateway Inc., has unloaded a prime piece of Los Angeles real estate for $17.9 million, the Los Angeles Times reports.

The 6,000-square-foot contemporary mansion is located in Hollywood Hills West, in a nest of blocks often called the “Bird Streets” after their names — this one’s on Blue Jay Way.

The Bird Streets are known for their high-profile residents, who in the past have included Hollywood A-listers like Leonardo DiCaprio and Jennifer Aniston. The buyer of this particular property is Latvian film producer and philanthropist Boris Teterev, according to the LA Times.

Waitt now operates Avalon Capital Group and is involved in philanthropic work. This is just one of three high-end Los Angeles properties he has acquired in the last few years.

Set on a hillside, the stone-and-wood house was built on under an acre in 2009, selling previously for $11.5 million, according to public records. It makes full use of its prime viewpoint, with an infinity pool overlooking the city below.

The house was listed with Ryan Davis of John Aaroe Group. Paul Stukin, also of John Aaroe Group, represented the buyer.

The infinity-edge pool is positioned right off the house's patio.

Richard Horn

Warm wood detailing and stone accents lend an organic feel to the sharp contemporary construction.

Richard Horn

As with many Los Angeles properties, indoor-outdoor living is seamlessly blended.

Richard Horn

Waitt isn't calling it quits on the neighbourhood entirely: he still owns a property in the nearby upscale Doheny Estates.

Richard Horn

The new owner, Teterev, is a well-known philanthropist in Latvia and a producer of films like 'Chef' and 'Machete Kills.'

Richard Horn

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