See inside Wave House, the legendary Malibu beach home once owned by Rod Stewart that just listed for $49.5 million

The living room of Wave House, architect Harry Gesner's ode to the ocean.

Simon Berlyn

• A house that juts out over Malibu's coveted beach hit the market for the first time in 36 years.
• Rod Stewart bought it in the 1970s and sold it to record executive Mo Ostin in 1987.
• The house was designed to look like a set of cresting waves by California architect Harry Gesner.

Before crooner Rod Stewart scooped it up in the 1970s, or record executive Mo Ostin bought it from him in 1987...