The $3.5 Million Mansion Scandal: Inside Gilbert Arenas' Two Notorious Homes, Shark Tanks, And 2025 Federal Indictment

The real estate portfolio of former NBA star Gilbert Arenas is as dramatic and attention-grabbing as his infamous "Agent Zero" persona on the court. As of December 12, 2025, his properties are back in the spotlight, not just for their outrageous luxury amenities like custom shark tanks, but for a serious federal indictment involving his Encino, California, residence. The latest news centers on allegations that the $3.5 million Los Angeles-area home was used to host a high-stakes illegal poker operation, a development that has once again put his extravagant post-NBA life under intense scrutiny.

While the infamous Great Falls, Virginia, mansion—complete with its "Entourage"-style grotto—is a relic of his Washington Wizards heyday, the Encino property now represents the most current and pressing chapter in Arenas's complex story. These two homes, separated by thousands of miles and years of controversy, perfectly bookend the rise and complicated financial fall of one of the NBA's most polarizing figures.

Gilbert Arenas: Biography and Career Profile

Gilbert Jay Arenas Jr., known by fans as "Agent Zero" and "Hibachi," had a sensational, albeit controversial, career in the National Basketball Association (NBA).

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• Full Name: Gilbert Jay Arenas Jr.
• Date of Birth: January 6, 1982 (43 years old as of 2025)
• Hometown: Los Angeles, California
• Nationality: American
• Height: 6 ft 3 in (191 cm)
• Position: Point Guard / Shooting Guard
• NBA Career: 11 seasons (2001–2012)
• NBA Teams: Golden State Warriors, Washington Wizards, Orlando Magic, Memphis Grizzlies
• Career Highlights: 3x NBA All-Star; 3x All-NBA Team selection; 2002–03 NBA Most Improved Player
• Career Stats (Averages): 20.7 points, 5.3 assists, and 3.9 rebounds per game
• Career Earnings (Salary): Approximately $160 million
• Estimated Net Worth (2025): Reported to be between $5 million and $15 million, a significant drop from his peak earnings.

The Great Falls Mansion: Shark Tanks and the Virginia Palace

During his prime years with the Washington Wizards, Gilbert Arenas commissioned a truly unique and extravagant home in Great Falls, Virginia. This luxury estate became legendary for its over-the-top, personalized amenities, reflecting the player's eccentric tastes.

Outrageous Features of the Great Falls Estate

The Great Falls mansion, which was eventually listed for $3.5 million and sold for $2.5 million, was a sprawling property that included several high-profile, custom-built additions.

• Custom Shark Tanks: The most famous feature was the inclusion of multiple custom-built shark tanks. Arenas reportedly spent a considerable sum to house his pet sharks, a unique, high-maintenance amenity that became synonymous with the home.
• "Entourage"-Style Pool and Grotto: The outdoor area was a tropical paradise, featuring a massive in-ground pool with sparkling water, a spa, and a custom grotto that was often compared to the lavish settings seen in the HBO show Entourage. The pool area alone was a multi-million dollar project.
• Size and Scope: The residence was a large, seven-bedroom home, designed as a true "Virginia Palace" for the NBA star.

The sale of the Great Falls property, which fetched less than its original asking price, marked a turning point in Arenas's real estate dealings, signaling a shift away from the East Coast and the end of his time with the Wizards.

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The Encino Mansion: From Luxury Listing to Legal Nightmare

After his NBA career, Arenas settled in the Los Angeles area, purchasing a property in Encino, California, that would later become the focus of his most recent legal troubles. This home, located at 4550 Gable Dr, was bought in 2007 for $3.1 million and was relisted multiple times over the years.

Architectural and Interior Design

The Encino residence is a study in luxury California living, featuring a distinct architectural style and high-end finishes. The home boasts a unique, hexagonal floor plan that creates open-plan living areas.

• Design Elements: The interior is characterized by dark wood accents, vaulted ceilings, and extensive Travertine flooring throughout the living spaces.
• Key Amenities: The property includes a center-island kitchen, a full bar, built-in features, and a balcony. It was a substantial, luxurious spread fitting for a former All-Star.
• Listing History: Arenas listed the property for $3,495,000 in 2015 and has been trying to sell it, with the title held by the Gilbert J Arenas Jr Revocable Trust.

The 2025 Federal Indictment: Illegal Poker Operation

The most shocking and current news concerning Gilbert Arenas's home is the federal indictment that surfaced in late July 2025. This development catapulted the Encino mansion into the national news cycle for all the wrong reasons.

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Allegations of High-Stakes Gambling

Authorities allege that Arenas was operating a high-stakes illegal poker ring out of his Encino mansion. The indictment, handed down on July 30, 2025, claims that the former NBA star rented out the luxury residence between September 2021 and July 2022 specifically for the purpose of hosting these illicit gambling games.

This situation highlights the significant legal risks associated with private gambling operations, especially those involving high-dollar amounts and celebrity status. The investigation and subsequent charges have cast a long shadow over the property's real estate value and Arenas's public image.

LSI Keywords and Entities for Topical Authority

The saga of Gilbert Arenas's homes is a complex narrative rich with details that appeal to both sports fans and real estate enthusiasts. The properties themselves serve as physical manifestations of his "live large" mentality, from the Great Falls, Virginia custom build to the Encino, California luxury listing. The Washington Wizards era is inextricably linked to the shark tanks and the Entourage-style pool, which are key luxury amenities that define his early real estate choices. The current controversy involving the illegal poker ring and the federal indictment in July 2025 is the most significant update to his story. Other relevant entities include his nickname Agent Zero, his career as a 3x NBA All-Star, his fluctuating net worth 2025, the specific address 4550 Gable Dr, and the high-end materials used in the homes, such as vaulted ceilings and Travertine flooring. These elements collectively provide a deep, authoritative look into the life and homes of Gilbert Arenas.