A storied property in California is on the market for what would be a record-breaking price. And agents say it’s the perfect compound for buyers seeking privacy and access to nature.
The “Heart of Rancho Rico,” a 150-acre property in Big Sur, hit the market this week with a listing price of $100 million, according to Homes.com. It’s the first time the estate has been for sale in nearly 60 years.
And if the ranch sells at its listing price, it would break the record for the priciest house sold in Monterey County that was set just months ago in August when a house on the 18th hole of the famed Pebble Beach Golf Links sold for $45 million.
Based on the $100 million price tag, the monthly mortgage payment would be more than $550,000 if a $20 million down payment is made, according to Homes.com.
Listing agent Tim Allen of Tim Allen Properties described the property as “Monterey County's unparalleled crown jewel” in his description on Homes.com. He also emphasized the property’s history in attracting prospective buyers.
“ 'Heart of Rancho Rico’ is an irreplaceable and timeless property,” he said. “Many long-standing residents in the region have an affinity for the history of this property.”
The estate was last purchased in 1965 by a former executive at aerospace manufacturer Lockheed that later became Lockheed Martin. It’s since been passed on to his grandchildren who raised their own families on the property.
“Four generations of our family have spent time on this property,” one of the sellers, C. Blake Forrest, said in a statement. “We hope the next owners will embrace this property, share it with their family and preserve the beauty of it for generations to come.”
Previous owners also include the Pfeiffer family, known as some of the earliest settlers of Big Sur in the 20th century, according to Allen.
'Big Sur lifestyle'
But in addition to the ranch’s history, Allen touts the property's size and location as selling points.
For one, the listing includes three detached single-family houses. The first is a 3,750-square-foot modern ranch-style house built in the 1940s. It has four bedrooms and five bathrooms as well as three fireplaces and a two-car garage.
The second house was built in 1995. It’s a two-story residence with four bedrooms, two bathrooms and 2,500 square feet of living space. The third house was added in 2001. It’s 1,960 square feet and includes three bedrooms and two bathrooms.
Additionally, the ranch includes an orchard with 80 trees, including citrus, avocado and nut trees. There’s also private beach access, views of the Saint Lucia mountains and terrain suitable for raising livestock and poultry, according to Allen.
“It provides the ultimate Big Sur lifestyle with privacy, peaceful living and endless adventures to explore the 150 acres of coastal paradise,” he said.
The rural neighborhood is home to a plentiful marine animal population and the state’s enormous Coast Redwoods, Allen said in a blog post.
In the post, the agent described Big Sur as “the perfect place to escape if you want to relax and get away from the hustle and bustle of the city or more touristy locations on the California coast.”