The Los Olivos, Calif., home that belonged to pop star Michael Jackson is on the market for $31 million after several price reductions. It went up for sale in 2015 at $100 million, then was reduced to $67 million and then went off the market for more than a year before returning at its latest price. Suzanne Perkins and Kyle Forsyth of Compass are the listing agents.
Jackson is arguably the most successful pop star in history. His “Thriller” album is the second-highest selling album of all time, with more than 33 million copies sold. It held the top spot until last year when the Eagles’ “Greatest Hits” album surpassed Jackson’s record, according to data from the Recording Industry Association of America. Jackson became a musical star at a young age when he sang with his brothers as part of the Jackson 5 with hits such as “ABC” and “I Want You Back.” His solo career started in his teens but didn’t reach its stratospheric heights until “Thriller” was released in 1982. Subsequent best-selling albums include “Bad” and “Dangerous.” He garnered 38 Grammy nominations and won 13 overall in his career, and died in 2009 from an overdose of a prescription drug and surgical anesthetic mixture administered by his personal physician.
During Jackson’s tenure, he had dubbed the property “Neverland Ranch” in homage to Never Neverland from “Peter Pan”, but the new owners have renamed it Sycamore Valley Ranch. It is now co-owned by a joint company between Jackson’s estate and a real estate investment trust, Colony Capital. The owners upgraded the infrastructure and landscaping but kept many of the signature features intact. This includes the train tracks, three guest houses, a four-acre pool and working massive outdoor clock immersed in the flower beds.
"There is nothing quite like it unless one wants to buy a reserve-like property in South Africa," said Perkins.
The total property encompasses almost 12,700 acres, with a main house measuring over 12,000 square feet and three separate guest houses are also on the grounds. The main house has six bedrooms and nine bathrooms, including a two-story master suite with two attached baths and private loft.
The sale includes a working barn and several outdoor animal corrals left over from when Jackson owned many exotic pets.
The train station built during Jackson’s ownership has been maintained by the existing owners.
The property also comes with a tennis court, pool, pool house outdoor covered entertaining areas and grilling station.
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