Rare and fortunate opportunity to purchase one of the most historic homes in the Santa Ynez Valley. Perched high in a grove of one hundred-year-old Redwoods, ''Palacio del Rio'', formerly the Hacienda for the renowned Juan y Lolita Rancho, is set on approximately thirty-six point six plus/minus acres and is steeped in Valley history. A recent restoration project over the past two years has brought this spectacular estate back to the height of its glory. Designed by Joseph Plunkett and built between 1929 and 1938, the gracious Hacienda offers a dramatic setting of unparalleled Valley views and beautiful mature landscape with a pool and tennis court. Previously owned by Jimmy Stewart and Dean Martin, the main residence has six bedrooms and six and one-half bathrooms, plus extensive grand guest quarters across the magnificent courtyard with four bedrooms and two bathrooms. Additionally, there is a separate two-bedroom second residence, caretaker's quarters, wine cellar, and six car garage. On the lower portion of the property are fenced pastures, an irrigated garden, horse shelters, and a riding arena. There is also a large barn with a tack room, ample storage space, and four stalls. With sweeping views of the Santa Ynez Valley, an incredible location that is close to town but offers serenity and privacy, this property is truly magnificent and irreplaceable.