When real estate agents Myra Nourmand and Rochelle Maize listed a sprawling estate in Somis, California, in March, they thought it would offer a buyer a “magical” residence just an hour from Los Angeles. Now they're thinking bigger.
The property has been on the market for more than six months, so the pair of agents with brokerage Nourmand & Associates Beverly Hills is taking a new approach: They’re targeting commercial buyers for the property, they said in an interview.
The 20-acre Mediterranean-style estate, known as The Green Acre Ranch, includes a five-bedroom, five-bathroom house, according to a listing on CoStar’s Homes.com. Its amenities include an orchard of more than 1,500 trees, a barn with 11-mini horse stables, a chicken coop, a private pond and a pool. It also has a caretakers’ residence and a pilates studio, the agents said in a statement.
The ranch is listed for $7.35 million.
The estate serves as a residence for a philanthropist and farmer, according to Nourmand and Maize.
“It’s more of a hobby for this owner than a business,” Maize said, “and that probably could be run and capitalized much more efficiently for somebody that wanted to.”
Commercial possibilities
So far, though, buyers have been deterred by the size of the property, she said.
“The buyers that have come, first of all, are shocked by how gorgeous it is and how close it is to L.A.,” Maize said. “But I think they were a little bit scared about the size.”
That feedback made Nourmand and Maize reconsider their strategy for selling the property. And now, they’re seeking a commercial buyer with “a creative mind,” Nourmand said.
“You could make it an event venue for kids. You could make it for bridal showers, wedding showers, bachelorette parties, holistic spa events,” she said. “Depending on your imagination, all of these would work if you’re willing to try.”
And though the property is currently used as a residence, its zoning would allow for retreats, recreation projects, golf course construction, campgrounds and more.
The agents are emphasizing the property’s agricultural potential, too. The property’s orchard now includes lemons, avocados and oranges, but Nourmand said there’s room for much more.
“There’s so much land that could be completely beefed up in terms of orchards and pomegranates and olives,” she said.