The late Academy Award-winning actor Gene Hackman and his wife Betsy Arakawa left behind a legacy not only in the arts but also in real estate. Their sprawling estate, nestled on 12 acres northeast of Santa Fe, New Mexico, has drawn significant attention since their passing in early February. This property, which dates back to the 1980s, underwent extensive renovations under Hackman’s direction and could fetch millions if it enters the market. Experts estimate its value between $3.8 million and $4.5 million, with some even speculating as high as $5 million due to its unique architectural style and Hollywood ties.

Gene Hackman acquired this expansive ranch in the 1980s, transforming it into a reflection of his personal tastes. The estate features two homes—one that existed when he purchased the land and another constructed about 25 years ago. According to Architectural Digest, Hackman collaborated closely with architects Harry Daple and Stephen Samuelson to revamp the original structure significantly. Walls were removed, ceilings raised, and various styles such as Pueblo, colonial New Mexico, and Spanish Baroque seamlessly integrated into the design. These renovations created a living space both grand and stylish, capturing elements of Southwestern charm while maintaining modern comfort.

During their over two decades of residency, Hackman and Arakawa made numerous updates and additions to the property. By the time of their deaths, the estate had evolved far beyond its initial layout, which included just four bedrooms and one bathroom. They added multiple rooms, outbuildings, and garages, enhancing both functionality and aesthetic appeal. Realtor.com executive editor Charlie Lankston noted that these enhancements likely increased the property's market value considerably. Despite concerns surrounding the couple's tragic passing, industry experts believe this aspect will minimally affect pricing, emphasizing instead the home's size, condition, and historical significance.

In March, following an assessment by the New Mexico Department of Public Health, it was revealed that eight detached outbuildings on the estate contained dead rodents and nests. While this discovery may raise questions for potential buyers, Lankston reassured that factors like acreage, amenities, and decor play a more substantial role in determining the asking price. He further suggested that public curiosity might overshadow any stigma associated with the property, potentially attracting buyers intrigued by its connection to a legendary figure in cinema.

Homes within the same ZIP code vary widely in value, ranging from modest listings at $70,000 to luxurious estates priced at $19.5 million. As of March 2025, the median listing price per square foot stood at $528, translating to approximately $4 million for the Hackman residence based on its nearly 11,500-square-foot footprint. Nearby properties reflect this trend, with one comparable house listed at $7.5 million on Zillow.

A private funeral service honoring Gene Hackman and Betsy Arakawa took place recently. Their legacy lives on through contributions to culture and art, as well as the remarkable estate they cultivated together—a testament to their vision and dedication to creating something extraordinary.