The 688-acre (278 ha) ranch's Spanish name translates to Sky's Ranch or Heaven's Ranch in English. In 1974, Reagan's family purchased the ranch, and he himself frequented the ranch throughout his presidency. The ranch is currently owned and operated by the Young America's Foundation.
History
The ranch was originally named Rancho de los Picos after José Jesús Pico, a descendant of Santiago de la Cruz Pico who arrived with the Anza Expedition in 1776, who homesteaded it and built the original adobe house in 1871. The Pico family owned the ranch until 1941, when Joe, one of Jose Pico's sons, sold it to Santa Barbara County surveyor Frank Flournoy for $6,000 (equal to $124,300 today[1]). In turn, he sold the ranch to Ray and Rosalie Cornelius, who then purchased additional land for the property.[citation needed]
Ronald Reagan's family owned a ranch in the Santa Monica Mountains that was much closer to their home in Bel Air, Los Angeles. The Reagans sold that ranch to a movie company and it is now part of Malibu Creek State Park.[2][3] The Reagans then bought the ranch from the Corneliuses for about $527,000 in 1974 (equal to approximately $3,256,000 today[1]) when his second term as governor of California was nearing an end. The estate contains a pond called Lake Lucky, stables and a barn for horses, and a 1,500 ft² (139 m²) house furnished with 1970s-style furniture. The ranch is located in a remote area on the crest of the Santa Ynez Mountains overlooking the Gaviota Coast. The nearest highway on the ocean side of the mountains is U.S. Route 101, with Solvang, California being the nearest community on the inland side of the mountains.[citation needed]
Because of his Alzheimer's disease, Reagan last visited the ranch in 1995. Nancy last visited in 1998, before selling the property to the Young America's Foundation, a conservative group which preserves it today as "a living monument to Reagan's ideas, values, and lasting accomplishments."[5] Although the ranch is closed to the public, the foundation offers students and supporters the opportunity to visit the property.[7][5]