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As The King became a megastar in the 1950s, he found himself too big for his $40K ranch at 1034 Audubon Drive.
In 1957, he gave his parents a $100K budget to find a “farmhouse,” and on March 19, they purchased Graceland for $102,500, or roughly $880K in 2019 dollars. A 22-year-old Elvis then spent $500K adding a stable, shooting range, racquetball court, musical gates and a meditation garden, where he and his mother are now buried.
Though appearing in countless songs and movies, Graceland got its name in the late 1800s, from the original landowner’s daughter.