If you want to live by the beach and next door to “Yellowstone” star Kevin Costner, be prepared to pay up.

An oceanfront horse ranch adjacent to the movie star’s property in Carpinteria, CA, has landed on the market for $109 million. Sean Matthews with Compass and Eric Haskell with The Agency are co-listing the property.

Known as Rancho Cariñoso, the serene, 4.2-acre spread boasts an oceanfront horse ranch with its own private beach. It also offers bragging rights—living near the acclaimed actor.

Pricey property

Just 33 listings are available in Carpinteria, with a median list price of $1.2 million. Oceanfront properties like this one are a rare occurrence on the market, according to Matthews.

“This incredibly special slice of coastline is unlike any other beachfront estate on the market today,” he says.

The ranch ranks as runner-up for most expensive home in this coveted coastal town—right behind a $160 million compound.

So why the nine-digit price tag?

“The estate has incredible sentimental value to my client, as he and his family have enjoyed the home for generations,” Matthews says.

As one of the last large beach estates on the Southern California coast, he adds, it is the kind of property you run across only once in a blue moon.

The seller, Arthur Cameron III, is the grandson of a Texas oil tycoon, Arthur Cameron, and the actress Kay Aldridge. In a statement, the owner, who also owns a 377-acre ranch 40 minutes outside Santa Barbara, describes the listing as “an unparalleled place to grow up and live within.”

Celeb central

Costner purchased his nearby 10-acre property in 2006 for $28.5 million. In 2017, he placed the home on the market for $60 million. After a price reduction to $49 million, it came off the market the following year.

Located just south of Santa Barbara, the seaside community neighbors the town of Montecito. Both places are a favorite of celebrities, including Ellen DeGeneres, George Lucas, Ashton Kutcher, and Mila Kunis.

Growth factor

While the waterfront equestrian estate is an idyllic spot, the home on the ranch is surprisingly small. The 2,500-square-foot modern design from 2014 offers three bedrooms, 3.5 bathrooms, and a detached 1,000-square-foot garage.

A buyer has options to add to or expand the two existing structures with multiple building sites on the property. And the land isn’t limited to homes.

“The property is zoned for nine horse stables and offers a state-of-the-art drip irrigation system allowing for turnkey landscaping,” says Matthews.

There are other features to attract a buyer. Boaters can enjoy docking a yacht conveniently in front of the homesite just off the private beach. Since the property is located on a surf break, activities such as swimming, boating, fishing, or lobster diving are all available.

Owners can keep a hangar of water toys, such as small boats and kayaks, on the beach portion of the property, the listing notes. The acreage also comes with private nature hiking trails, fruit trees, and ATV access on the grounds.

The picturesque, private horse trail leads directly to the beach, where horse riding is allowed at all times of day or night. That’s not something permitted on the public beach, which limits equine activity to certain hours.

“This is a rare, once-in-a-lifetime opportunity to own a piece of California’s iconic coastline and make it your own,” Matthews says.

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