[1][nb 1] Latching on to the 1891 gold boom in Cripple Creek, Carlton started a freight hauling business from Colorado Midland at Divide with his brother, Leslie.
Based upon the income from his freight business, Carlton invested in mines, banks and railroads.
[1][3] He invested in the Colorado Midland Railroad to carry freight and in businesses in Cripple Creek.
Carlton purchased the property in 1928 from William A. Otis to build a home for his wife.
Mrs. Carlton had become enamored of the Spanish Colonial Revival architecture during her travels across Southern California.