It took 15 years and several significant price cuts, but a 78.5-acre coastal California estate with its own helipad and vineyard finally sold for $17.22 million.
Mansion Global reports the property, located on the Pacific Coast Highway outside of Cambria in San Luis Obispo County, has been on and off the market since 2010 when it was listed at $58 million. The property was listed at auction in 2019 at $60 million, but it received no bids. The price later underwent successive reductions and was last listed at $28 million in June.
The property’s Venetian-style 12,000-square-foot mansion includes six bedrooms and 14-foot ceilings, and the site also includes several guest apartments, a caretaker’s cottage, a show garage with its own bar, a 12,700-square-foot event space, a musical space, a helipad, stables with space for six horses, three acres of olive trees and six acres of vineyards, including 6,200 Pinot Noir grape vines.
The seller is real estate developer Khosro Khaloghli and the buyer was not identified.
Photo courtesy of Zillow
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