On June 17, 1846, in order to help finance the fight against the Americans in the Mexican American War, Pio Pico, then the Governor of the Mexican Territory of California (and an obvious real estate tycoon!), perpetuated one of the biggest San Fernando Valley real estate deals in history, at least in sheer size! The lands of the Mission San Fernando, consisting of a total of 116,858 ACRES, and containing most of the present day San Fernando Valley, were sold by Pico to Eulogio De Celis of Los Angeles, for a total price of $14,000.00. This works out to approximately 79 cents per acre...
And you thought TODAY'S prices were low!!!!
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