$109 Million Horse Ranch Next to Kevin Costner’s Carpinteria Estate Takes Huge $41.5 Million Price Cut After 4 Years on the Market

A “world class” legacy horse ranch that is located just a stone’s throw from actor Kevin Costner‘s iconic Carpinteria, CA, compound has undergone a jaw-dropping price cut after languishing on the market for nearly four years.

Rancho Cariñoso is an extraordinary 4.21 acres of prime oceanfront real estate anchored by a three-bedroom, four-bathroom main residence. It features a private hiking trail, a private beach cabana, and the option to stable up to nine horses.

There is also plenty of “potential” to expand the property. The listing description notes that there are “multiple” building sites on the land, to be used as the future owner sees fit, whether that be as a location for a guesthouse, a pool, or a studio space.

“Nestled in a prestigious, celebrity-favored enclave, Rancho Cariñoso is an unparalleled 4.21-acre oceanfront estate—the last of its kind on the Southern California coast,” the listing says.

“Commanding over one acre of direct beachfront, this historic Carpinteria horse ranch is a rare sanctuary where luxury, nature, and recreation intertwine seamlessly.

“Rancho Cariñoso is nothing short of a wonderland, and all who step foot within its gates are sure to be enchanted and inspired by its magical splendor.”

Among the property’s many spectacular amenities is a private trail that leads to the horse-friendly beach.

The private trail is a “coveted privilege and treasure,” the listing states, because it provides residents with full-time access to the sand, while others are forced to abide by the “strict time constraints of the public path.”

So far, so idyllic—and yet the equestrian property has struggled to find a buyer.

It was initially listed for $100 million in September 2021. It then had a number of price changes, the first of which was actually an increase to $109 million in March 2022.

The sky-high price tag was attributed to the rarity of the property as well as the “sentimental value” that it holds for its owner, Arthur Cameron III, who is the grandson of Texas oil tycoon Arthur Cameron and actress Kay Aldridge.

The property continued to bounce on and off the market, with the price cut significantly to $69.99 million in September 2024. On Feb. 6, it was further trimmed to $67.5 million—a $41.5 million discount from its original ask.

Pricey real estate is not a rarity in Carpinteria, which is one of the most sought-after areas in the greater Los Angeles area and has been home to a host of celebrities over the years.

There are currently seven properties on the market in Carpinteria with a $10 million-plus price tag—three of them are located on the same road as this dwelling.

In August 2024, comedian-turned-real estate mogul Ellen DeGeneres sold a prime oceanfront property in Carpinteria for the awe-inspiring price of $96 million.

That 3.44-acre clifftop property, which was made up of two separate plots of land that the former TV host purchased in two parts back in 2022, featured a Tuscan-style mansion and breathtaking views of the ocean.

Meanwhile “Yellowstone” star Costner has built an incredible private retreat in the celebrity-loved enclave, having first purchased a 1.4-acre property there in 1988.

Although it is unclear just how much the actor forked over for the compound, it is now valued at around $145 million.

The stunning compound includes a main house and two additional homes.