A ranch in northern California has been placed on the market for an asking price of $31 million for nearly 27,000 acres of pasture land and forest.
The Lone Pine Ranch was put together by stock market tycoon Dean Witter, co-founder investment firm of Dean Witter & Co., which was merged with Morgan Stanley in 1997. Witter passed away at the age of 81 in 1969, but his ranch remained in the family for nearly 50 years after his death.
In 1942, Witter purchased the first of three ranches in Trinity and Mendocino counties that would form the 26,601 acre Lone Pine Ranch. The ranch is just 3,395 acres smaller than San Francisco, which is 180 miles to the south.
Today, the ranch has a carrying capacity for more than 800 cows and includes 16.5 miles of frontage on Northern California’s Eel River. Approximately 30% of the ranch has timber, as well.
Wildlife found on the ranch include: elk, blacktail deer, pig, bear and quail. The river also carries salmon and steelhead during their migration from the Pacific Ocean.
The primary home was built in the mid-1930s and is 5,300-sq. feet in size. The home overlooks the Eel River canyon and there are a number of other homes, sheds and barns on the property.
The Lone Pine Ranch is being marketed by relator Hall & Hall. On a per acre basis the ranch is being sold for approximately $1,165 per acre.
For more on the ranch watch the following video: