Some properties are bought. The rare ones are entrusted to the next steward.

Calpine Ranch encompasses 532± deeded acres in the heart of Sierra Valley, California’s largest alpine valley, where broad mountain meadows meet forests of towering Jeffrey and lodgepole pines beneath the Sierra crest. Offered as three legal parcels, the ranch presents a rare opportunity to acquire a significant California landholding with the flexibility to continue its agricultural legacy, thoughtfully restore its historic improvements, or shape its next chapter.

Supported by adjudicated water rights, Fletcher Creek and Spring Creek, and an artesian well, the ranch is fully equipped for productive agricultural use. Existing infrastructure currently supports approximately 30 cow-calf pairs and includes an eight-stall barn with individual run-outs, tack room, feed room, corrals, extensive fencing and cross-fencing, approximately 6,000 square feet of shop and agricultural improvements, and two residences. Together, these improvements provide the foundation for a working cattle or equestrian operation while offering exceptional flexibility for recreation, conservation, or multigenerational ownership.

Whether envisioned as a productive working ranch, an equestrian property, a private sporting retreat, or a legacy family holding, Calpine Ranch offers a combination of scale, authenticity, and infrastructure that has become increasingly difficult to assemble in Northern California.

Located approximately 45 minutes from Truckee and one hour from Reno-Tahoe International Airport, Calpine Ranch is more than a ranch. It is a landscape with history, purpose, and the rare opportunity to steward one of Sierra Valley’s enduring properties.

Historic Ranch Residence

3,116± Square Feet

The original ranch residence overlooks Sierra Valley with a quiet sense of permanence. Rich in character and history, it offers the opportunity for thoughtful restoration while preserving the authenticity and craftsmanship that only time can create.

Caretaker’s Cottage

1,158± Square Feet

A separate caretaker’s cottage provides flexible accommodations for ranch management, guests, or extended family, complementing the property’s working infrastructure while offering the opportunity for future updates and personalization.