564-acre California Ranch With a Redwood Forest and Six Homes Sweetens the Deal

Now asking $22.5 million, the property has been in the same family for more than 100 years

The price of a 564-acre California ranch with six homes was dropped by $2.5 million last week, and is now being offered at $22.5 million.

Known as the Island Farm, the property is located in the coastal community of San Gregorio outside of Silicon Valley. Owned by the same family for more than 100 years, it offers a wealth of natural beauty, from the pond beside the main cabin to the diverse terrain of the land, according to Cutty Smith and Dana Cappiello of Sotheby’s International Realty’s San Francisco Brokerage.

“There’s over 80 acres of redwood forests with a stream running right through it,” Ms. Smith said. “But then you get up on the hills and you have these broad vistas…you can see the waves crashing at San Gregorio Beach.”

Of the six homes on the property, two of them are on ridges in the hills, she added. Although those homes are in need of updates, they would not be able to be built today given California’s building restrictions.

Cattle also graze on the ranch, making part of the property eligible for a lower property tax rate as part of the Williamson Act, which stipulates owners must not develop the land for 10 years in exchange for the tax break. There are also no easements on the ranch, which means there are fewer restrictions for developing parts of it, according to Ms. Cappiello.

“What we found during Covid is people are looking for a hideaway. They want a place to go that’s unique, private and so beautiful. And so close,” she said, noting that Silicon Valley is less than an hour’s drive away.

The main cabin also includes two Prohibition-era bars that Charles Lindbergh and Gregory Peck are said to have visited, the agents said. In addition, there’s the three-bedroom, three-bathroom Cooks Cabin and Rose’s Cottage, the compound’s largest home with five bedrooms and four bathrooms. The furnishings are included, as are the canoes and other recreational equipment.

An octogenarian caretaker, who has lived on the property since he was 3 years old, resides in the final cottage and “has a wealth of knowledge” about the land, Ms. Cappiello said.

In recent years, the estate has hosted weddings and has been the backdrop for movies and commercials, creating a revenue stream. There’s a dance floor on the grounds, plus a ticket booth once owned by the Southern Pacific Railroad Company that is now used as a bar or wedding cake station.

Finally, riparian water rights come with the sale, and the property “still has plenty of water for each of the houses and to maintain the landscaping and animals,” according to the listing.

The home was first listed for $25 million in September, according to listing records. The seller’s great aunt and uncle received the property as a wedding gift around the 1920s, the agents said. The current owner was not available for comment.

Ref: 564-acre California Ranch With a Redwood Forest and Six Homes Sweetens the Deal ( mansionglobal )