The longtime Coto de Caza compound of late real estate developer William Lyon and his wife, Willa Dean, has been relisted for $59 million after a significant reduction to its original size.
Previously offered at 137 acres, the estate now spans 73 acres, with the 64 acres preapproved for a new 25-home gated development no longer included in the offering. Though records show they still remain in the family.
“The seller is about to select a builder for this portion of the property and will enter detailed contract negotiations once a builder has been selected,” The Agency, one of the firms marketing the property, said in an email to Southern California News Group.
Despite the smaller footprint, the Lyon Estate still boasts a grand 21,000-square-foot, Georgian-style mansion with eight bedrooms and 11 bathrooms built in 1986 by Lyon, known as “The General” from his days as a major general and commander of the U.S. Air Force Reserves.
The property includes a helipad, equestrian facilities with a 10-stall barn and a riding arena, a tennis court and a brick-clad wine cellar. A playhouse outfitted with electricity and a TV enhances the estate’s appeal.
Three guest houses add 2,095 square feet to the estate’s living space, while a 23,679-square-foot car museum can comfortably accommodates 70 vehicles. It features a professional auto shop, recessed lift turntable and a wash station.
The grounds of the estate include Italian villa-like gardens and seating areas alongside a resort-style pool, a spa and a standalone pool house that features a dry sauna and dual bathrooms with changing rooms.
Mauricio Umansky of The Agency and Josh Altman of Douglas Elliman are the lead agents on the listing.
Originally listed in June 2025 for $125 million, the Lyon Estate ranked among the most expensive homes on the market in Orange County, second only to a $150 million, 42-acre estate in San Juan Capistrano. But that property has also undergone a significant price cut and is now listed by Rex McKown and Katie Machoskie of Compass for $85 million.