An oceanfront property in Pebble Beach, Calif., on the scenic 17-Mile Drive is hitting the market for $40 million.
The seller is Ron Wright, a guitarist, composer and real-estate investor, who with his wife, Madeleine, bought the property in the late 1990s. The Wrights gut renovated an existing property and rebuilt it with a lot of “blood, sweat and tears,” Mr. Wright said. They completed the current house in 2004.
The...