A sprawling 20-acre estate in Livermore just hit the market for $5.3 million.
Extensively updated by PayPal executive Dave Montez and his wife in the past five years, the property includes a four-bedroom, four-bathroom ranch home, a casita, an olive orchard and a "fully fenced playground village."
Montez said he grew up going to Frontier Village, an amusement park that operated near San Jose between 1961 and 1980, and used it as inspiration for "Olive Town," a space designed for his grandchildren to enjoy. It includes raised garden beds, a play structure and two play cabins on the acreage.
The land also features a working olive orchard. Montez said the previous owners brought the property's olive trees over from Tuscany more than 20 years ago and they produce a grassy, peppery olive oil that his wife has been bottling and selling. Bottling equipment is on site.
The estate has also been updated for sustainability and off-the-grid living. There's a large solar field and batteries to store power, in addition to two wells that supply almost all the water the property requires throughout the year.
Each room in the main home has been renovated and all the landscaping was redesigned when the couple moved in. There's also a pool, an outdoor kitchen, a workshop and a three-car garage.
"We turned this place into what feels like a resort," Montez said, "… so it's meant for having parties and celebrations."
The couple bought the property in 2018 for $2.25 million, also inheriting two steers and a wild mustang with the land, which Montez hopes the future buyer will keep. He said they've been great pets and they do a lot of maintenance on the land, eating grasses to minimize fire risk. Property owners get significant tax breaks under the Williamson Act, a California land conservation program that benefits owners for dedicating land to agriculture and open space. He estimates their discount is around 50%.
Montez has been working fully remotely since the pandemic and he said he's getting closer to retirement. It felt like the right time to sell the home and move to the family’s home in Cambria, where they can enjoy the slower pace of life, he said.
Home Services
-
ADT, Frontpoint, Vivint, and Simplisafe are all offering great Black Friday home security deals.
-
The best home security systems offer motion detectors, doorbell cameras, entry sensors, smart…
-
If you want to barely lift a finger for your smart home security system, Vivint could be a great…
-
ADT home security is a great options if you're looking for a dependable yet modern smart home…
- Miss the Sock Puppet? Reminders of the dot-com boom in the Bay Area
- These Bay Area cities are poised to break into the million dollar home market
- A slight chill coming for the Bay Area housing market?
- Forget San Francisco. These two Bay Area cities have the most competitive markets
- Home-run king Barry Bonds knocks out of the park a $6 million home sale in Bay Area
- ‘Planes do fall out of the sky.’ Airplane lands amid the cars on Bay Area freeway
- Enjoy Burning Man without leaving the SF Bay Area
- Fewer than 1 in 5 residents can afford a home in Bay Area
- A home you can afford: How land trusts are changing Bay Area home ownership
- Bay Area gains new icon with San Francisco’s ‘Grand Central Station of the West’
- Bay Area tech CEOs say immigration policies are undermining growth
- Bay Area tech CEOs say immigration policies, H-1B plans are undermining growth
- Aryan Brotherhood leader dies in prison, leaving behind bloody legacy in Bay Area
- Who’s writing checks to Democrats in Central Valley House races? Bay Area liberals
- Bay Area's wealthiest self-made women, according to Forbes
- H-1B use skyrocketed among Bay Area tech giants
- Could you live in 200 square feet? Local company builds tiny homes for Bay Area minimalists
- Sears to close 46 unprofitable stores, including 2 in the Bay Area
- America’s Real Estate System Pushes Rents Up And People Out. There's Another Way.
- We Surveyed Hundreds About Tech’s Harassment Problem. Here Are Their Stories.
Tech executive selling huge Bay Area estate, leaving the region have 760 words, post on www.sfgate.com at February 6, 2023. This is cached page on Law Breaking News. If you want remove this page, please contact us.