The Elwood Historical Ranch spans more than 1,400 acres in Fresno County, featuring century-old structures, spring-fed water sources and sweeping mountain views. (Photos courtesy of National Land Realty)

A historic Fresno County ranch with ties to the outlaw Dalton Gang will be auctioned July 7-14. The property offers more than 1,400 acres, abundant water resources and a connection to one of the Central Valley’s best-known Old West stories.

The Elwood Historical Ranch lies between Yokuts Valley and Wonder Valley and has been listed for $6.4 million by Tom Smart, a land specialist with National Land Realty.

Smart, who has spent years working with agricultural properties and ranch owners across the Central Valley, said the property stands apart because of its mix of history, natural resources and development possibilities.

A link to the Old West

The ranch’s historic structures continue to be one of its biggest draws, Smart said. The property includes an original home, carriage house, meat locker, chicken coop and storage structures that date back more than a century.

The ranch’s connection to the Dalton Gang has also added to its appeal. According to legend, members of the outlaw group hid in the nearby mountains in the late 1800s and would come down to the Elwood property to take supplies from the meat locker, leaving gold coins as payment.

The story has led to rumors that the gang might have buried treasure somewhere near Dalton Mountain, although no treasure has been found.

Water, wildlife and wide-open land

The ranch’s natural features also make it unique, Smart said. The property includes spring-fed ponds, year-round water sources, streams, wildlife and mountain views.

“There’s a lot of water on the property,” Smart said.

The ranch is currently used as an active cattle operation through a livestock feed lease. Smart said there are several potential directions for a future owner to take the property.

The ranch consists of nine contiguous parcels, creating opportunities for continued agricultural operations, residential development and other potential uses.

Buyer interest spans the globe

Prospective buyers range from ranch operators and developers to recreational-use investors and international buyers. Smart said interest has come from across California, nearby states and overseas buyers intrigued with owning a property connected to historic Americana.

“We’ve had international buyers interested from both Asia and Europe,” Smart said.

Possible uses for the property could include a private ranch, hunting property, recreational destination, outdoor camp or even a corporate retreat location. Smart said some businesses have expressed interest in using the property for retreats, although previous ownership did not pursue those opportunities due to liability concerns.

For Smart, preserving the property’s history is one of the most important pieces of its future.

“I’ve always envisioned being able to restore a functioning ghost town of the 1800s and allow people to come and live as they did back then,” he said.

A family legacy up for sale

The auction follows an initial marketing effort that generated interest from multiple buyer groups. Smart said the auction approach is designed to connect with the right buyer.

The ranch was last owned by Fresno businessman Virgil Eischen, who bought the property in 2003 and had a strong connection to its history before deciding to sell it. Eischen died in 2022.

His daughter, Janice Jepson, previously said that her father valued the historical property and hoped a future owner would appreciate it as much as he did, Smart said.

“It’s something that’s so uniquely American,” Smart said. “There are fewer and fewer of these opportunities out there for people to get a hold of and have that they can actually anchor into what it used to be.”