The ocean-view home, scheduled for completion next year, sits on a little more than a quarter of an acre in the Strand at Headlands, a gated beachfront community.
The Spanish-style residence will have four bedrooms and 4.5 bathrooms in more than 4,500 square feet, according to listing details. Other planned areas include a center-island kitchen, formal living and dining rooms, a media room and a great room with vaulted ceilings and a fireplace.
An attached garage will accommodate as many as four vehicles.
Kindy Slagle of HOM Sotheby's International Realty holds the listing.
Buss acquired the property along with three other lots at the Strand two years ago for a combined $13.5 million.
Over the last year, he's also sold an ocean-view home in Dana Point's Monarch Beach area for $3.7 million and bought a 4,299-square-foot penthouse at the Ritz Carlton Residences at L.A. Live for $4.05 million.
The 56-year-old executive is the son of the late Jerry Buss. He has held the title of VP of basketball operations since 2005.
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