In 1943, Rick and Luella “billie” Ulrich purchased six acres of oceanfront property at Latigo Point from Marblehead Land Co. They soon added adjacent property, bringing the total to eleven and one-half acres, covering most of the high ground above Latigo Shore Drive. The property includes a strip of beach between the ends of Latigo Beach Road and Malibu Cove Colony Road, separating the two neighborhoods.
Two houses were eventually constructed: first, an 1,840 square foot guesthouse completed in 1947; and second, a grand 6,000 square foot, three-story brick main house completed in 1971. A beach house, caretaker’s cottage, manicured gardens, statuary, fountains, and a waterfall were later added to the property. The compound is known as Gull’s Way, with its entrance at 26800 Pacific Coast Highway.
Gull’s Way has been used as a location for hundreds of films and TV shows, including “Fantasy Island,” “Hardcastle & McCormick,” and “It’s Only Money,” starring Jerry Lewis. Rick Ulrich died in 1987 at the age of 86. In 1992, Billie, 91, arranged to donate the property to Pepperdine after her death in 1997. Pepperdine intended to use Gull’s Way as a conference center, but could not get approval from the City of Malibu for such a center in a residential neighborhood. Pepperdine listed the property for sale in 2002. Eventually, Dick Clark bought it for an undisclosed sum.