Exclusive | After asking $109 million, this California horse farm will list for $69.95 million: ‘Property is priced to sell’

The grandson of a Texas oil magnate and a Hollywood actress has slashed $40 million off the price of his oceanfront horse ranch with private beach access in Southern California. But it still costs a fortune.

Arthur A. Cameron III is ready to list the trophy property in Carpinteria for $69.95 million, Gimme Shelter has learned. The land has been in his family for more than four decades.

This being California, neighbors include Kevin Costner, who doesn’t have private beach access, on one side of the bluffs — and, until recently, Ellen DeGeneres on the other.

Last month, DeGeneres sold her neighboring property — which is also without private beach access — for $96 million to Singapore-based mining magnate Robert Friedland, chairman of Ivanhoe Mines and a business mentor to the late Steve Jobs. (The sale came two years after she bought it for about $70 million.)

George Lucas, Ashton Kutcher and Mila Kunis, as well as Kourtney Kardashian, all have homes nearby in the Padaro Lane and Montecito areas.

Cameron, the grandson of oil magnate Gen. Arthur A. Cameron and Hollywood actress Kay Aldridge, first listed the bluff property, known as Rancho Cariñoso, with various brokerages two years ago — for $109 million.

At the time, it was one of the 20 most expensive listings in the world, according to reports. Today, it is still one of the last oceanfront horse ranch properties on the Southern California coast and the only one along the bluffs of Padaro Lane with private beach access.

The new listing broker is Amanda Lynn, of Nest Seekers International, and star of the hit Netflix reality series, Selling Sunset. On the East Coast, Dylan Eckardt, star of Max’s Selling the Hamptons, is serving as marketing strategist for the New York market.

“The property is priced to sell,” Eckardt said, adding that the area is private, unlike Malibu where “100 people” can walk outside your house on the beach. “This is ‘Gilligan’s Island’ meets ‘The Lost Boys.’ You can ride your horse on the beach, wade in knee-deep water and catch five lobsters with your hands in 2 minutes.”

Added Lynn: “Dylan and I both grew up on the beach [Montauk and Florida]. This is about selling dreams to someone who can create anything they want here.”

The complex is spread over 4.21 hectares. Cameron built the modest farmhouse on the land in 2014. The original nearly 28-acre Padaro Lane property was purchased by his late father, also known as Artie Cameron, in 1978 for $1 million and then closed in a living faith.

While Cameron retired his polo ponies to his 377-acre ranch north of Santa Barbara, he still brings them to ride on the beach.

“This world-class heritage property is unlike anything else on the market today,” Cameron said in a statement. “It’s an equestrian and oceanfront oasis where you can enjoy everything from horseback riding on the beach to private surfing vacations and yacht mooring right in front of your home. There is simply no comparison… Both my grandfather and father had an eye for truly exceptional real estate. None have the same magic as Rancho Cariñoso.”

A long, mature tree-lined driveway leads to the home — a 2,500-square-foot one-story spread with three bedrooms, 3 ½ baths and plenty of windows to showcase the views. The property also includes a 2,000-square-foot detached garage that holds five cars, a beach cabana — plus plenty of room to add a 10,000-square-foot home, a pool and areas for nine horse stalls.

One of the unique features of the house is a private horse trail that leads to the beach. There is also a deep water dock for yachts to moor outside the house and for lobster fishing. Outdoor enthusiasts will also enjoy the property’s hiking trails and access to ATV driving, Eckardt and Lynn say.