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78.5-acre estate in Cambria, California, has finally sold for $17.22 million after nearly 15 years on the market. The property, which boasts a range of luxurious amenities, was initially listed for $60 million and had its price reduced to $28 million before selling.

    Located outside the picturesque town of Cambria, the estate features a 12,000-square-foot main home with six bedrooms, as well as guest apartments, stables, vineyards, olive groves, and a helipad. The property also includes two fenced pastures, irrigated wine vineyards, and oceanfront riding trails.

    The buyer plans to use the estate as a family compound, taking advantage of its many unique features and amenities. The seller, real estate developer Khosro Khaloghli, had built the estate over several years but never lived in the main home, opting instead for one of the guest apartments.

    Khaloghli's vision for the property was to create a luxurious retreat that would be perfect for entertaining and enjoying the beautiful surroundings. However, the high upkeep costs and lack of comparable properties in the area made it challenging to sell.

    The estate's sale marks the most expensive residential transaction in Cambria's history, according to Neyshia Go of Sotheby's International Realty, who represented the seller. The buyer was represented by David Crabtree of Home & Ranch Sotheby's International Realty.

    The property features a range of impressive structures, including a 12,700-square-foot event pavilion and a show garage for luxury cars. The grounds are equally impressive, with six acres of vineyards planted with Pinot Noir grapevines, as well as olive trees, stables, and hiking trails.

    Despite the challenges in selling the property, Go believes that its unique features and lifestyle eventually found their match with the buyer, who plans to use it as a generational compound.