The PayPal CEO’s California home includes a theme park
PayPal CEO Dave Montez loves Olive Town. So are his children, grandchildren, friends and colleagues.
The fact that the half-acre miniature theme park is right in his backyard is a bonus.
“Everybody, when they come here, they want to go check it out,” Montez said. “So everyone there is walking the roads that wind through it and taking pictures of the city. That’s a real attraction when you have a party.”
Olive City is a distinctive feature A 20-acre retreat at 1080 Victorine Road in Livermore, about 50 miles east of San Francisco. However, there is much more to the property, such as a five-acre olive garden, a separate casita and a magnificent 60-foot swimming pool.
There are also two fire pits, an outdoor kitchen with a built-in pizza oven under the pergola, raised beds, livestock and abundant wildlife.
Montez, chief audit executive at digital payments company PayPal, has listed an impressive private estate in the East Bay area for $5.25 million. He plans to retire soon and move to Cambria on the Central California coast.
The Mediterranean atmosphere is echoed with the four bedrooms and four bathrooms in the 4,000 square foot ranch. The panoramic view of the green hills from every room creates a Tuscan atmosphere. The main residence was completely renovated in 2021.
Montez hired an architect to design an amusement park in a fenced yard.
“She put her heart and soul into it and wanted to make sure everything was perfect,” he said.
Inside Olive Town there are winding roads and a dry stream with a bridge.
There are two miniature houses with heating and electricity. One of them resembles a village fire station and has two vehicles that can drive around town. Another — called the Sunflower House — has a picket fence, small Adirondack chairs in front of the house, and an irrigated garden for planting summer crops like tomatoes. Both structures have small kitchenettes and have play food and play furniture.
In the middle of Olive Town is a grassy hill that Montes calls “Jack and Jill Hill” because his grandchildren climb and play King of the Hill on it. The six-ton boulder was brought for climbing and jumping. The replica well, complete with bucket on a rope, is actually a sandbox. At the back of the amusement park is a large play structure with slides and swings.
“It’s magic,” Montez said. “In fact, when we were building it, the guy who delivered all the materials came in one time without supplies when he knew we were finishing because he wanted to see how this beautiful mini-Disneyland, as he called it, turned out. It’s a really special place for the grandchildren and their friends.”
For Montez, the amusement park is a dream.
“Growing up, I came from a family that didn’t have a lot of money, and we used to go to Frontier Village in San Jose, an old (western-style) theme park,” he recalled. “When I was little, it was almost a fantasy land for me. But I wanted it here on our lot, so I asked an architect to design it, and she did a great job.”
Located in Victorina Valley, the home feels remote, even though it’s only seven minutes from the Bay Area’s two major freeways, Highway 580 and Highway 680.
“We really made it like a resort,” he said. “We have parties and immediately everyone takes out their cameras and posts on social media. Everyone asks where they are — they think it’s some kind of resort, but it’s just here.”
A working California olive ranch
The ranch may look like a resort, but there’s also a business side. Montez’s five acres of olive trees had a banner year. It produced about 100 gallons of olive oil. There were probably another 50 gallons worth of fruit on the trees, but the Monteses couldn’t harvest them all.
His wife, Nikki, sells small batches of Tuscan olive oil through a company called Montez Family Farms in San Luis Obispo stores.
“The fruit they produce is amazing,” Montez said. “And our youngest son got a degree in packaging, so he worked for a big firm before buying the business he’s in now. He did all the packaging so it really looks professional. It’s a nice little bonus to the property.”
The olive grove and small amount of livestock on the ranch mean the property falls under the Williamson Act, which allows owners to benefit from reduced property taxes if the land is maintained as agriculture, Montez said.
“One of a kind” East Bay Area real estate
Montez likes to cook. Inside the main residence, the gourmet kitchen features marble countertops, a farmhouse sink, a Wolf range, and a Subzero refrigerator suite that includes a wine cooler.
The master suite features vaulted ceilings, nature views and a private flagstone patio for morning coffee or an evening glass of wine, according to the property’s listing. The suite includes a walk-in closet and an additional room that can be used as an office, gym, or nursery. The new spa-like bath features a marble vanity, large shower and Toto toilet/bidet.
A buyer can expand the ranch to include vineyards or equestrian facilities.
“This is an absolutely one-of-a-kind property with a stunning architectural style on the exterior with an equally thoughtful interior,” said listing agent Julia Murtagh of Compass. “The possibilities are endless on the 20-acre site, which currently supports a working olive orchard, large playground and livestock.”