Markkula served as Apple’s second CEO from 1981 to 1983 and he became the iPhone maker’s chairman as well, from 1985 to 1997.
REUTERS/Mike Blake/File Photo

Mike Markkula, co-founder of tech giant, Apple, recently relisted his expansive Carmel Valley ranch in California for a marked-down price of $37.5 million.

Based on a report from Forbes, the said amount was a sheer drop from the original $59.9 million price in 2013.

Known as the "Rana Creek Ranch," this 14,000-acre property in one connecting block is rich in water resource. It also has two barns, many miles of trails, and a landing strip of 2,900 feet-all on top of the numerous residential constructions.

The 78-year-old Apple investor said, the property is "a working ranch to grow cattle." More so, the business produces revenue in order to maintain the ranch.

Markkula served as the industry leader's second CEO from 1981 to 1983. Then, he became the iPhone maker's chairman as well, from 1985 to 1997.

$9-Million Ranch Bought 3-1/2 Decades Ago

Markkula said, he and his wife, Linda, first bought the original Rana Creek Ranch, an 8,000-arcre property which he bought for $9 million about three-and-a-half decades ago.

Before they found the ranch onto market, the Apple co-founder added, they had been in search for one to by in California for a couple of years but nothing appeared to get them enthusiastic.

They then, took a helicopter, Markkula recalled, for a tour of the Rana Creek Ranch. The more they saw the property, he shared, the better they liked it and eventually, bought Rana Creek Ranch on the spot.

Through the years, the ex-Apple executive said, they had purchased several adjoining lots to expand it. They loved the ranch, he said, and proudly added that it is a "wonderful place to go."

The ranch, as Markkula described the property, has all kinds of wildlife which deer, bobcats and mountain lions, among others. He shared he even learned how to ride horses on the ranch and it give him so much fun.

7,000-Square-Feet Interior Space

The main house, Markkula continued explaining, has over 7,000 square-feet of interior space with ceilings, floors and doors all made of pecan wood. This wood type, the ex-Apple boss said, has attractive colors and is thrice more dense compared to oak.

Additionally, the structure features a guesthouse with two bedrooms as well, and living quarters constructed specifically for the manager and staff.

The first time the couple put the ranch on the market was in April 2013, for $59.95 since they decided they would not be retiring in the said property and no one among their children, said Markkula, was interested to take it over.

He then reduced the price to $45 million in 2016 but removed it from the market in Februarly last year, based on the listing records.

Then, the property was again listed last week, "with Bill McDavid of Hall and Hall," this time at a marked-down $37.5 million. Hall and Hall is a Montana-based brokerage.

Explaining the drop in price, McDavid said, it is quite a challenge to do costing for such an extraordinary property like the Markkulas'. However, he added, it is "comparable to other large ranches" he has sold with almost the same amenities and sizes in other states.

What makes the Rana Creek unique, McDavid added, is its climate. Specifically, the climate is mild all year-round in Carmel Valley.

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