California Estate Sells for $17.22 Million After 15 Years on Market

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Real Estate News

CALIFORNIA,ESTATE,SALE

A sprawling 78.5-acre estate along California's Pacific Coast Highway has been sold for $17.22 million after nearly 15 years on the market.

A sprawling 78.5-acre estate along California's Pacific Coast Highway has sold for $17.22 million after nearly 15 years on the market, marking the most expensive residential sale in Cambria. Located outside the picturesque town of Cambria in San Luis Obispo County, the property boasts a slew of amenities — including a helipad, vineyards, stables and even a show garage for luxury cars.

Once listed for as much as $60 million, the estate was most recently asking $28 million before going into contract. Originally listed at $60 million, the Venetian-style property features a 12,000-square-foot main home, guest apartments, stables, vineyards, olive groves and a helipad. The estate features two fenced pastures ranging from 10 to 20 acres, and 6 acres of irrigated wine vineyards, home to 6,200 Pinot Noir grape vines. The deal officially closed last week, marking the most expensive residential sale in Cambria’s history, according to Neyshia Go of Sotheby’s International Realty, who represented the seller. “This property has so many unique features that there are so many options in how you can utilize ,” Go told Mansion Global. Visitors are greeted by a dramatic rotunda with a fountain, leading to a home that includes six bedrooms and 14-foot ceilings. Built by real estate developer Khosro Khaloghli, who never lived in the main home, the estate faced challenges selling due to high upkeep and limited comparables. Additional structures dot the property, including several guest apartments, a caretaker’s cottage and a 12,700-square-foot pavilion originally designed to house a helicopter

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