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The tower offers 360-degree views of the Pacific Ocean, Huntington Harbor and the San Gabriel River. The top floor features a 42-inch-diameter fire pit and a 175-gallon fish tank. The second floor has two master bedrooms with built-in bureaus, a wet bar and a recessed television. A first-floor kitchen boasts Italian-tile flooring, a double sink, a butcher-block table and automatic roll-up shutters. An elevator hoists people from the first floor to the top of the tower.

Wallace rents out the stilted home for $500 per day. "Being at home in the tower is like being away from the busy city," he says.