Apple Co-Founder Lists Carmel Valley Ranch for Cool $37.5MM

Apple, Carmel Valley, Mike Markkula, Rana Creek Ranch, Hall and Hall
Image Courtesy of Hall and Hall

By Meghan Hall

Apple co-founder Mike Markkula has placed his 14,000-acre ranch in Carmel Valley, Calif. up for sale for a third time. Known as Rana Creek Ranch, the property has hit the market and is priced at $37.5 million, according to Hall and Hall, the brokerage firm in charge of the listing and who specializes in rural real estate.

“The Golden State’s countryside doesn’t get any more idyllic than this,” states Hall and Hall in the offering. “…It is a mammoth landscape with impressive water resources in the form of seasonal creeks, vernal ponds and a strong aquifer.”

The ranch was previously listed for sale twice in the past. The first time, in 2013, the ranch was listed with an asking price of $59.95 million. It then hit the market again in 2016, priced at $45 million. It has been off the market since December of 2018. 

According to previous industry reporting, Markkula originally acquired the land for $8 million in 1982. Markkula was Apple’s third employee in its early days and served as the company’s second CEO. He was the longest-serving board member in Apple’s history before stepping away in 1997.

The ranch is also the largest landholding in Carmel Valley, and comprises the bulk of the original Rancho Los Tularcitos Mexican land grant, all of which is completely fenced. The property extends along both sides of Carmel Valley Road, with 12,400 acres to the north and an additional 1,720 acres to the south. The northern portion of the property could also be purchased on its own for $27.5 million.

The property is currently operated as a cattle ranch and owner’s retreat, which boasts a 7,000 square foot home complete with a swimming pool. Five other houses of various sizes are also located on the property, several barns, a greenhouse and corrals. Other features include extensive water rights and resources including seven livestock wells, seven agricultural wells and three domestic wells, a private, 2,900-foot paved airstrip and helipad. The ranch also has the potential for agricultural expansion and the growth of fruit, nuts and viticulture and also has 50 miles of road.

“Recreational opportunities on the ranch are extensive. Equestrian enthusiasts, trail runners and hikers will find miles and miles of trails throughout the ranch,” the offering states. “Hunters will find abundant huntable species including black-tailed deer, wild boar, quail, and wild turkey.”

When the property will sell remains to be seen, but would appeal to a buyer who desires close proximity to Silicon Valley combined with the expansive outdoors.

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