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An Oil Heir’s Coastal California Estate Sells for One-Fifth of Its Original $109M Asking Price

Posted on by Mike B
11
Oct

An oceanfront horse ranch in Southern California once asking over $100 million has sold at auction for a fifth of its initial price tag, closing this week for $22.55 million. 

The 4.2-acre estate near Loon Point Beach, between Carpinteria and Santa Barbara, features a three-bedroom home amid avocado and citrus groves, nearly 1 acre of private beachfront, along with ATV and equestrian trails with direct pathways to the sand and access to the Loon Point surf break, according to Concierge Auctions, which handled the sale. 

Known as Rancho Cariñoso, the estate went under the hammer in September with bids starting at $20 million after spending several years on and off the market, Mansion Global previously reported. It started with a $109 million price tag in 2022, was relisted for close to $70 million in 2024, before being reduced to $48.975 million by August.

“Where else in Southern California can you ride horses directly onto the beach, anchor a yacht offshore, surf a private break and retreat to 4 acres of complete oceanfront privacy?” listing agent Barron Hilton of Compass said in a news release announcing the auction. He co-listed the property with Tessa Hilton.

The seller is oil heir and polo enthusiast Arthur A. Cameron III—grandson of a Texas oil magnate, with whom he shares a name, and Hollywood actress Kay Alridge—according to property records and news reports. As befits a horse lover, Cameron’s property is zoned for nine horses and is just minutes away from the Santa Barbara Polo Club.

Single-Story Modern Craftsman Home Framed by Mature Oak Trees and Gravel Driveway
The 4.2 acre property in La Carpinteria includes a 2,500-square-foot home. (Mike Kelley)
Warm Wood Open-Concept Kitchen with Granite Countertops and Custom Divider Shelving
The home was built in 2014. (Mike Kelley)
Serene Bedroom with Green Bedding and Glass Doors Opening to Woodland Patio
The oceanfront California horse ranch once asking over $100 million has sold at auction for $22.55 million. (Mike Kelley)

Cameron inherited the property from his father, Arthur Cameron II, who bought the ranch in 1978 as part of a $1 million deal for 28 acres, according to Polobiz.

The property’s main 2,500-square-foot home was built in 2014 alongside a 1,000-square-foot detached garage, with additional build-ready sites for other accessory buildings and amenities. There is offshore yacht dockage with tender access. 

Covered Wooden Patio Lounge Area Overlooking Oceanside Lawn
The property includes citrus groves, equestrian trails, and a private beach. (Mike Kelley)
Coastal Dirt Pathway Leading Through Greenery to Ocean View
The equestrian trails lead directly to the beach. (Mike Kelley)

“With multiple build-ready sites and more than 4 acres, there is a meaningful opportunity to add to the estate while preserving the very character that makes it so special,” Hilton said via email. “We are excited to see what comes next for this one-of-one property.”

It is located along a coveted stretch of Padaro Lane, populated with celebrity neighbors like actor Kevin Costner, “Star Wars” creator George Lucas and reality star Kourtney Kardashian. 

Sandy Coastal Beach View with Driftwood along Dramatic Bluff Cliffs
The property includes about an acre of private beach. (Mike Kelley)
Detached Garage and Driveway Nestled Among Lush Trees and Landscaping
The property has built-ready sites for additional structures. (Mike Kelley)

The sale is among the year’s priciest in Santa Barbara County, which saw 43 deals above $10 million through early October, according to Multiple Listing Services data shared by Compass.

Discover more stories. Read the latest luxury real estate news at Mansion Global.

Mike B